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Prices for vineyards on the Côte-d'Or in Burgundy have risen by eleven per cent to almost one million euros per hectare in 2023. This makes them almost as expensive as vineyards in Champagne. This was announced by the French state property agency Safer. Prices for premier cru white wine vineyards rose for the 28th year in a row to an average of 2.25 million euros, while prices for premier cru red wine vineyards increased by 9.2 per cent to 950,000 euros per hectare. Local wine appellations also rose by eight to ten per cent, depending on colour and location.
Last year's larger transactions included the purchase of William Fèvre and 70 hectares in Chablis by Domaines Barons de Rothschild, two vineyards with 20 hectares by Maison Joseph Drouhin and the seven hectares of Domaine des Terres de Velle in Auxey-Duresses by a consortium led by Domaine Leflaive director Pierre Vincent. However, most of the transactions are smaller than one hectare.
The value of all vineyard sales in France rose by almost 16 per cent to 1.17 billion euros. According to Safer, however, this was due to a small number of "exceptional transactions". While the appellations of the Côte-d'Or continue to be in demand, prices for red wine sites such as those in Bordeaux and the Rhône Valley fell. In Bordeaux, they fell by 4.3 per cent to 122,400 euros per hectare, with particularly frost-prone sites in the AC Bordeaux and Côtes-de-Bordeaux appellations barely achieving more than 4,000 euros. Many winegrowers therefore prefer to accept the state grubbing-up premiums. In Languedoc-Roussillon, prices fell by 3.1 per cent
In France, the average cost per hectare within protected designations of origin rose by 1.5 per cent to 153,500 euros last year. In Alsace, the Loire Valley and Champagne, the increase was below the French inflation rate of 5.4 per cent in 2023. If Champagne is excluded, vineyards with protected designation of origin increased by 0.7 per cent to 82,000 euros per hectare. The number of transactions fell by 7.6 per cent.
(al / source: decanter)