French vineyard sales up 2.8% in 2017
Source:
https://www.vitisphere.com/
June 04 2018
The French market for vineyards is still buoyant with an increase in trade. Prices have risen irrespective of whether the vineyards are within an appellation area or not, or eligible to produce appellation brandies.
In 2017, the vineyard market was bullish with sales progressing well. A total 9,460 transactions (+2.8%) were finalised covering 16,900 ha (+7.9%) worth 1.3 billion euros (+59.9%). "Bought and sold acreage is at its highest level for the past 25 years," commented Loïc Jégouzo, from Terres d'Europe-Scafr, on 31 May in Paris at a press conference by the Safer network on land prices. The spectacular increase in values can be ascribed to the sale of several prestigious estates. "Ten transactions alone represent 31% of the total market value", said Jégouzo. But even if these transactions are excluded, value sales are still on the rise.
Champagne slowdown
From a price perspective, increases were posted across-the-board. In appellation or PDO vineyards, the average price is 143,900 euro/ha, a rise of 2.3% compared to 2016. "But if Champagne is excluded, the increase is much more marked: + 4.2% (Editor's note: at an average price of 69,300 euro /ha), because Champagne only rose by 0.8% in 2017", explained Jégouzo. All wine regions have progressed except Corsica. The highest increases were observed in Alsace (+7.2%), Burgundy (+4.9%), the Rhone Valley and Provence (+5.5%). "The most prestigious AOCs have continued to increase and are driving up the prices of intermediate AOCs," noted Jégouzo. The price of vines for appellation brandies has soared by 8.1% to 46,900 euro /ha. "The increase is due to record levels of Cognac exports", he said. The price of vineyards outside appellation areas increased by 3% to 13,800 euro /ha.
