Comparing the prices of farmland in Kenya to other countries, we can see significant variations. In the United States, the average farm real estate value is $4,080 per acre, with a 7.4% increase from the previous year. However, it is important to note that this is a national average, and state-level values may differ. The complete Land Values 2023 Summary can be obtained from the National Agricultural Statistics Service of USDA.
In Kenya, the prices of farmland vary depending on factors such as the county and the climate in the area. For example, in Kisii, an acre of farmland, equivalent to four plots, ranges from $16,000 to $17,000. In more urbanized areas like Mombasa, Nairobi, and Kisumu, the prices are even higher. In Central Kenya, the prices can reach up to $20,000 per acre in areas like Kiambu, and $8,000 in Murang’a, Laikipia, Nyeri, and Kirinyaga counties. In Luo Nyanza, Western Kenya, and some parts of the Rift Valley, the rates are slightly lower than in Kisii. In the North Eastern and Eastern regions, the prices are cheaper due to different climatic conditions.
Moving on to other countries, the prices of farmland in Australia have shown a significant increase. According to a new farmland price index created by ABARES, the national average price per hectare has almost doubled from $2,435 in 2020 to an estimated $4,689.
In India, the average land cost per acre in North India can range from $6,700 to $26,800. Moving towards central India, states like Madhya Pradesh and Chhattisgarh offer more affordable options with lower land rates. Western states like Gujarat and Maharashtra also show a similar trend but are influenced by industrial development as well.
In Brazil, farmland prices have experienced substantial growth, particularly in areas used for grain production. From 2019 to 2022, the average cropland value increased by 128%, from $1,875 to $4,271 per acre.
Lastly, in England and Wales, the price of bare agricultural land has reached a record high, with an average value of £8,951 per acre.
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In conclusion, the prices of farmland in Kenya vary across different counties and are influenced by factors such as location and climate. When compared to other countries, Kenya’s farmland prices can be considered relatively affordable, especially in certain regions. It is important to consider the specific factors that contribute to the pricing of farmland in each country when making comparisons.
