Last year was historic for Uruguay’s farmland market: the average land price in Uruguay 2024 reached a record USD 3,967 per hectare, according to official data from DIEA (Agricultural Statistics Office, MGAP).
This value not only represents a 5% increase compared to the previous year but also stands 12% above the five-year average, confirming Uruguay as a solid destination for those looking to invest in high-quality farmland.
1,708 land purchase transactions completed in 2024.
375,497 hectares sold, a 58% increase compared to 2023.
Total value of transactions: over USD 1.489 billion.
National average price: USD 3,967/ha, the highest in 25 years of records.
The departments with the highest land sales activity were:
Tacuarembó
Rivera
Treinta y Tres
Together, they accounted for 42% of the land area sold and 34% of the total investment in farmland in 2024.
The highest land prices per hectare were recorded in:
Soriano: USD 8,621/ha
Colonia: USD 8,111/ha
Canelones: USD 6,886/ha
On the other hand, Artigas had the lowest average land price, at USD 2,312 per hectare.
72% of transactions involved properties between 10 and 100 hectares, yet they only represented 12% of the total area sold.
Just 1% of the transactions involved properties over 2,000 hectares, but these accounted for 43% of the total land area and 40% of the transaction value.
Conclusion: while small-scale operations are numerous, large estates continue to dominate the market in terms of volume and investment.
In an increasingly uncertain global context, Uruguayan farmland has consolidated as a secure capital refuge. Sustained demand from investment funds, particularly in the forestry sector, along with growing interest from foreign investors seeking natural capital and RegenAg investments, continues to drive land prices upward—even amid tight profit margins in agriculture and livestock sectors.
Purchasing farmland has become part of a diversification and capital preservation strategy in a volatile global market.
With the 2024 data, Uruguay now boasts over two decades of uninterrupted monitoring of land prices, recording:
45,870 land transactions since 2000
9.8 million hectares traded
The 2024 average price of USD 3,967/ha marks a historic high, far exceeding the record low seen in 2002 (USD 386/ha).
All indicators suggest the trend will continue: strong demand, firm prices, and strategic opportunities for investors seeking a safe, profitable agricultural investment.
If you are considering buying farmland in Uruguay, don’t hesitate to reach out.
We are experts in rural investment management and can advise you in finding the best opportunities to be part of this growth cycle.
You can also view our previous report on Uruguay’s land market trends in 2023 by clicking the link below:
Farmland Prices in Uruguay 2023
Source: DIEA Land Price Series – Official Report
