Côte-d’Or: winegrowers worried about rising prices for their land

The vineyards of Burgundy and its exceptional domains arouse the greed of the greatest fortunes and certain investors are ready to spend considerable sums. Billionaire Francois Pinault would have spent 280 million euros for this area. For his part, Bernard Arnault spent 100 million euros for the vineyard of a grand cru. As for the prestigious Château de Pommard, it is an American patron of Silicon Valley who owns it.

This soaring price worries local winegrowers in Golden Coast like Aubert Lefas, because these takeovers would cause the price of land to explode. “We risk it is the gradual disappearance of family farms. The most dramatic thing is that we have a lot of trouble installing the young generation”says the winemaker. In Côte-d’Or, one hectare of vines cost an average of 492,700 euros in 2012 but eight years later, the price has increased by 54%.