My jaw dropped last week when I read that 1ha of arable land in the Canary Islands cost an average of €120,477 in 2020, making it by far the most expensive place to buy land in Europe in 2020.

I’m putting it down to the lack of supply on the islands, which will come as no surprise.

It is truly a phenomenal figure and worth noting that Eurostat has said that is the average figure.

The next highest regional average was in the Netherlands, with a maximum price of around €105,000/ha.

The Netherlands’ average price for a hectare of arable land was just under €70,000.

I wouldn’t fancy getting into a bidding war in either country.