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Land Price Analysis 2024

Learn about the main trends and prices in the land market in Uruguay during 2024. Key data on transactions, average prices by apartment, and future prospects.

During 2024, 1.708 operations of purchase and sale of land for agricultural use, totaling more than 375.000 hectares, which represents an increase in 58% of the marketed surface area over the previous year.

The total amount traded exceeded $1.489 billion, with an average price of $3.967 per hectare, the highest in the historical series. This figure consolidates a clear market recovery, with a slight increase compared to 2023 ($3.783/ha).

Average Prices by Department

The departments of Tacuarembó, Rivera y Treinta y Tres concentrated 42% of the total hectares sold, with more than 156 thousand hectares y 502 million in transactions.
The highest average prices were recorded in:

Soriano: USD 8.621/ha

Colonia: USD 8.111/ha

Canelones: USD 6.886/ha

The lowest price was given in Artigas, with USD 2.312/ha.

Trends by Surface Scale and Land Use

The transactions of 10 to 100 hectares represented the 72% of operations, but only the 12% of the surface sold.

In contrast, the operations larger than 2.000 hectares were the 1%, but they covered the 43% of the area and 40% of the total value transacted.

In terms of use, diversification continues to predominate between agricultural, livestock, rice, and forestry uses.

Behavior by CONEAT Index

26% of the hectares sold (almost 99.000 ha) had a CONEAT index between 80 and 100a average price of USD 3.732/ha. 75% of the total surface area was sold with an index equal to or less than 100.

Historical Comparison and Perspectives

Since 2000 they have been concretized 45.870 operations, encompassing 9,8 million hectares.
The average price has increased from USD 386/ha in 2002 to USD 3.967/ha in 2024, marking an all-time high.

This evolution shows three major stages:

2003–2008: growth in area and prices

2009–2013: stability with rising prices

2014–2024: decline in operations but prices have been recovering steadily since 2020

The outlook for 2025 points to continued demand, with particular interest in land used for livestock and agricultural purposes.

What can we conclude?

The land market in Uruguay reached record average prices per hectare in 2024 and saw a significant increase in land traded. Regional differences reflect soil quality and predominant productive uses. Investor interest continues to consolidate Uruguay as a leading market. reliable destination for rural investments.

Below is a report with the latest data updates provided by the ministry.

FAQ

What was the average price per hectare in 2024?

USD 3.967 per hectare, the highest since the historical series began in 2000.

Which department had the highest price per hectare?

The department Soriano, with USD 8.621 per hectare.

How did the land market perform in 2024?

With a sharp increase in the number of transactions and surface area traded, and a rise in the average price, this demonstrates the recovery and consolidation of the sector.

Sources consulted

1. Sales Year 2024 - MGAP DIEA
2. Prices by Department - MGAP DIEA
3. Surface Scales - MGAP DIEA
4. CONEAT - MGAP DIEA Index