French vineyard prices revealed - Bordeaux takes a hit

The vine market was very brisk in 2022. In terms of acreage, trade reached unprecedented levels”, said Loïc Jégouzo of the research, monitoring and strategic planning department of France’s national land registry agency FNSafer on May 25 during a press briefing in Paris.

A total 18,400 hectares changed hands, up 5.4%, with values slightly in excess of one billion euros, down 7.9%.

The average price of AOP vineyards stood at €151,200/hectare, an increase of 2.3%. “The rise was widespread, except for two regions – Bordeaux-Aquitaine (-3%) and Corsica (-7.7%)”, explained Jégouzo. The downturn in the market for generic red Bordeaux had a clear impact on the price of the region’s vineyards. “Prices have been falling for four years for AOC Bordeaux and AOC Supérieures. Conversely, prices of the prestigious appellations remain stable”. Emmanuel Hyest, chairman of the national Safer federation added that in the region, “the very severe crisis will lead to a transformation of the landscape, in the broadest sense of the word”.

For Corsica, the decline is not necessarily significant, stressed Jégouzo. “The market is very limited so any changes should be viewed with caution”.

In terms of increased prices, Jégouzo cited two examples – Burgundy and Champagne. “The increase is particularly sustained in Côte d’Or. The rate of growth is increasing due to a limited but highly desirable market”. In Champagne, average prices switched back into growth mode (+2.4%) after three consecutive years of decline. “The market has become buoyant again due to record bottle sales”.

The average price for appellation brandies reached €60,400/ha, up 3.2%. “It continues to increase, but growth is less sustained than in 2021 (+5.8%) and 2020 (+6.9%)”, explained Jégouzo. The expert ascribed the slowdown to the slight decrease in sales of Cognac, but also to continued growth in acreage permitted for planting new vines with around 3,100 ha authorised in 2022. According to Jégouzo, the policy has led to a shift in price pressure from established vineyards to plantable land.

In non-appellation vineyards, prices continued to grow at a rate of 1.9% in 2022, reaching €15,300/ha.