The value of farmland in the Eastern Townships
Did you know that farmland values are increasing? According to the Farm Credit Canada (FCC) Farmland Values Report, the average value of farmland in Canada increased by 6.4 per cent in 2020. This growth in land values in Quebec has been steadily increasing since 1986.
The Eastern Townships in the rankings
As usual, land price dynamics vary from region to region. In 2019, land values jumped by more than 10% in four locations: Mauricie-Portneuf (+12%), Bas-Saint-Laurent-Gaspésie (+12%), Outaouais (+14%) and Estrie (+16%).
What you need to know before buying farmland
Before buying farmland, there are some important questions to ask yourself:
- Know what is possible to farm according to the zoning in question;
- Validate the presence of acquired rights and the possibility or otherwise of construction;
- Validate what restrictions apply to the property (easements, forest corridor, agricultural production, etc.);
- Find out about lease agreements and the Act respecting the protection of agricultural land.
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