According to the Global Farmland Index 2019 by the property company Savills, the price of farmland has increased 12% per year worldwide over the past 16 years. The company studied price changes in 15 major markets: Argentina, Australia, Germany, Brazil, Canada, Denmark, France, Hungary, Ireland, New Zealand, Poland, Romania, the United Kingdom, USA and Uruguay. In general terms, the increase in prices was much steadier from 2002 to 2007 with an annual increase of 28%, before falling to 11% per year for the following years. In Western Europe, there has even been a decrease in prices during the past five years. In North America, Canada experienced an increase of 9.2% on average per year over 16 years, and 2.4% for the past five years; in the USA it was +6.1% on average for the same period and 1.6% in recent years. In general terms, the biggest increases were found in Eastern Europe such as Romania (+40%) and in South America. According to Savills, land value should continue to increase due to global population growth and climate change.