Pursuits
Vineyard Prices Surge 21% in Pauillac, Home of Lafite Rothschild
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Vineyard prices in Pauillac, the Bordeaux wine region home to Chateau Latour and Lafite Rothschild, jumped 21 percent last year, pushing the cost of a plot of vines the size of a rugby field to $2.6 million.
Pauillac wine property changed owner for 1.2 million euros ($1.6 million) to 2.5 million euros a hectare (2.47 acres) in 2012, France’s Agriculture Ministry wrote in an online report today. Average prices rose to 2 million euros from 1.65 million euros in 2011.