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According to the French state land price agency Safer (Sociétés d'aménagement foncier et d'établissement rural), the prices for Grand Cru vineyards in the Burgundy Côte d'Or have almost doubled in the last ten years. The average price of such land is currently just under 14 million euros, compared with 7.5 million euros in 2008. The range varies greatly depending on the location. According to Safer, top vineyards are available from around 2.75 million euros per hectare.
The top price was paid last year by French billionaire and Château Latour owner Francois Pinault for the renowned Clos de Tart vineyard in Morey-St-Denis. The prize was 200 million euros for the estate buildings, cellar technology and 7.53 hectares of best vineyard sites. Extrapolated from this, the price per hectare was around 25 million euros.
Outside the top locations, Burgundy is drastically cheaper. According to Safer, vineyards in the AOC Bourgogne cost between 12,700 and 70,500 euros. In 2008, the peak value was still 45,000 euros.
(uka / Photo: Uwe Kauss)