Official statistics from the Ministry of Agriculture indicate that last year 938 farmland transactions were carried out, covering an area of 159.000 hectares. The total amount involved was 519 M USD, which leads to an average price of 3.257 USD per hectare (or 1,318 USD per acre).
The majority of deals was done in Lavalleja, Durazno and Tacuarembó, in general investments in forestry. The highest values (aprox 6.000 USD per hectare or 2,400 USD per acre) were recorded in Soriano, Rio Negro, San José and Colonia, which is where you can find the best cropland. The lowest prices were found in Artigas (1.800 USD per hectare or 720 USD per acre).
Only 3% of all transactions involved farms of over 1.000 hectares. This is an important caveat to take into consideration for the average prices. Most transactions were done with plots between 10 and 100 hectares.
Average prices per hectare came down since 2015 after having increased significantly between 2003 and 2014.
Upon request the full report in Spanish can be provided.