Land prices in Uruguay: 18% increase in first half of 2023

Uruguayan land prices: opportunity or barrier to entry?

According to the General Direction of Agricultural Statistics (DIEA) of the Ministry of Livestock, Agriculture, and Fisheries (MGAP), a total of 603 transactions were made involving agricultural land during the first half of 2023. This encompassed 95,535 hectares, with an overall value of 375 million dollars. The average price of land in Uruguay for the first half of 2023 reached USD 3,928 per hectare, representing an 18% increase compared to the same period in 2022.

The data gathered from analyzing land transactions, specifically those exceeding 10 hectares, between January 1st and June 30th, 2023, has been disclosed.

Land Values Across Uruguay: Perspective by departments

The increase in land prices is most pronounced in the departments of Rocha, Salto, and Paysandú, which have a high concentration of agricultural land. The average price of land in these departments is USD 2,980, USD 3,980, and USD 3,646 per hectare, respectively.

Regions with soils of higher productivity, such as Colonia, Soriano, and San José, recorded the highest average prices per hectare at USD 9,325, USD 6,650, and USD 5,691, respectively. This underscores the direct correlation between soil quality and investment values in these areas.

On the other hand, Artigas and Cerro Largo reported the lowest average prices at USD 2,397 and 2,457 per hectare, respectively.

By Surface Scale:

Although 70% of transactions occurred on surfaces ranging from 10 to 100 hectares, these areas accounted for only 16% of the total sold. In contrast, the 8 transactions exceeding 2,000 hectares represented 23% of the total area and 21% of the total transaction amount.

By Sale Price:

Approximately 27% of the land was sold within the price range of USD 3,001 to 4,000 per hectare, surpassing 90 million dollars in value.

Land Sales by Productivity Index:

A quarter of the land sold in Uruguay during the first half of 2023 corresponds to soils with CONEAT indexes of 60 or lower, averaging USD 2,769 per hectare.

The price of agricultural land remains at a high level, posing both an opportunity for livestock producers and a barrier for new investors.


The current Uruguayan farmland market demonstrates increasing demand with limited supply, leading to a sustained rise in prices over recent months.

Foreign investors from Europe and the region continue to show interest, particularly in agricultural and forestry lands.

In this context, the Uruguayan farmland market is likely to remain dynamic in the coming months, albeit with a more moderate growth pace.

Source: MGAP Report via DIEA’s official statement: Link

To learn more about the impact of land prices on the Uruguayan agricultural sector, read our blog post: