The French land registry authority (SAFER) has released its data on vineyard sales in 2022, as reported by Vitisphere. Last year, 18,400 ha (about 45,500 acres) of vineyards changed ownership in 9,520 transactions, just 100 ha (247 acres) more than the previous record year in 2019. While the overall value of the transactions decreased by 7.9% to just over €1bn, the average vineyard price actually increased.
Loïc Jégouzo of SAFER explained these apparently contradictory figures to the German trade magazine WEINWIRTSCHAFT, saying that the total transaction value consists of vineyards (planted and unplanted) and wineries (with commercial vineyards). So, if there are fewer transactions involving expensive developed land, the overall value can decrease even though the average price per hectare of vineyards can increase.
The absolute decline in value is particularly evident in Bordeaux-Aquitaine (-36%) and Bourgogne-Beaujolais-Savoie-Jura (-26.6%). Despite the decline, thanks to its size, the Bordeaux-Aquitaine region still has the highest traded value at around €224m, followed by Champagne with around €209m (+13.1%). The transaction value has significantly increased in Languedoc-Roussillon (€108m +40.4%), where France's largest area of 5,450ha (about 13,500 acres) was sold.
Bordeaux Prices Dropped
The average price for AOP vineyards was €151,200 per hectare (+2.3%), with only Bordeaux (-3%) and Corsica (-7.7%) experiencing a decline. In Bordeaux, while AOC Bordeaux and AOC Bordeaux Supérieur saw a decrease in prices, top Médoc, Graves/Pessac-Léognan and right bank appellations held their value and reduced the overall fall for the region as a whole. Vineyards for grape spirit production (Cognac, Armagnac) had an average price of €60,400 per hectare (+3.2%), and vineyards without protected designation of origin were priced at €15,300 per hectare (+1.9%). VM
