Agricultural Land Prices: The Effect of the Terms of a Sale

The aim of the paper has been to diagnose factors determining agricultural landprices, classifying them and determining which of them plays the most importantrole. The considerations were based on selected subject literature, the results ofresearches conducted by other authors, as well as analysis of statistical data from theCentral Statistical Office of Poland and Eurostat. Factors determining agriculturalland prices in Poland can be divided into two groups: 2) Market: supply and demandfor agricultural land allotted to agricultural production; supply and demand foragricultural land that can be, in compliance with the binding law, allotted to purposesother than agricultural; simultaneous functioning of two market segments - private(on which a majority of land trading is conducted among farmers) as well as the statemarket segment – the Stock of Agricultural Property of the State Treasury managed,on behalf of the owner - the State Treasury, by the state institution - the AgriculturalProperty Agency; profitability of agricultural production. 2) Non-market: historicalconditions – dominance of private property in Polish agriculture, both in the marketeconomy and in the previous economic system; tradition, culture - passing farmsfrom generation to generation; Poland’s accession to the European Union andcovering Polish farmers with common agricultural policy instruments; ending thetransitional period of purchasing Polish agricultural properties by foreigners on 1May 2016. After this period, the hitherto limitations (special permits) for foreignersin purchasing agricultural properties in Poland were lifted.

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Agricultural Land Price Convergence: Evidence from Polish Provinces

Agriculture ◽

10.3390/agriculture10050183 ◽

2020 ◽

Vol 10 (5) ◽

pp. 183 ◽

Cited By ~ 2

Author(s):

Mateusz Tomal ◽

Agata Gumieniak

Keyword(s):

Market Integration ◽

Fixed Effects ◽

Agricultural Land ◽

Land Market ◽

Price Convergence ◽

Present Value ◽

Land Price ◽

Land Prices ◽

Long Run ◽

Agricultural Land Prices

This research deals with the problem of agricultural land market efficiency using the spatial market integration concept as well as the present value (PV) model. Empirically, it aims to test the convergence of agricultural land prices across Polish provinces. In order to check the law of one price (LOP), good-quality, medium-quality and bad-quality land sales markets are examined separately. Furthermore, this study is complemented by an analysis of the drivers behind agricultural land price convergence. The main method of testing price convergence is the log t regression. The latter was performed in two configurations, i.e., based on trend components of time series extracted using the Hodrick–Prescott filter and the Hamilton filter. Additionally, traditional β- and σ-convergence tests were applied. The obtained results indicated that agricultural land prices tend to converge in relative terms, which means that the provinces share a common long-run growth path. This finding and estimates of traditional convergence tests prove the increasing integration in the agricultural land market in Poland. There is no evidence, however, to support the conclusion that the absolute version of the long-run LOP holds. Moreover, using dynamic fixed effects models, it was identified that for good-, medium- and bad-quality land prices almost the same drivers of convergence apply. The only differences concern the strength of the influence of independent variables on prices of farmland of various types. Additionally, bad-quality land prices are the only ones which are affected by livestock density. Furthermore, estimates of the present value model finally confirmed that the agricultural land sales market in Poland cannot be considered as efficient.

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A hedonic analysis of agricultural land prices in Pakistan`s Peshawar district

Asian Journal of Agriculture and Rural Development ◽

10.18488/journal.1005/2016.6.4/1005.4.59.67 ◽

2016 ◽

Vol 6 (4) ◽

pp. 59-67

Author(s):

Salman Khan ◽

Ghaffar Ali ◽

Syed Attaullah Shah ◽

Abbas Ullah Jan ◽

Dawood Jan ◽

...

Keyword(s):

Agricultural Land ◽

Hedonic Analysis ◽

Land Prices ◽

Agricultural Land Prices

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Agricultural land market in Slovakia

Agricultural Economics (Zemědělská ekonomika) ◽

10.17221/863-agricecon ◽

2008 ◽

Vol 53 (No. 4) ◽

pp. 146-153 ◽

Cited By ~ 1

Author(s):

S. Buday

Keyword(s):

Agricultural Land ◽

Point Of View ◽

Land Market ◽

Foreign Investors ◽

Land Prices ◽

The Third ◽

Agricultural Use ◽

Agricultural Land Prices ◽

The Eu

The agricultural land market in Slovakia has noted an increased dynamics recently. Such situation was a result of entering big foreign investors, particularly car factories, which had bought agricultural land for construction purposes. It resulted in the raised prices of plots. Agricultural land prices sold for the further agricultural use are markedly lower from the national point of view than in the EU-15. Such prices are also the third lowest ones within the new member countries of the EU.

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Political rents in the European Union’s agriculture

Management ◽

10.2478/manment-2014-0051 ◽

2014 ◽

Vol 18 (2) ◽

pp. 191-203 ◽

Cited By ~ 3

Author(s):

Bazyli Czyżewski ◽

Agnieszka Brelik

Keyword(s):

Agricultural Land ◽

Choice Theory ◽

Land Rent ◽

The Public ◽

Land Prices ◽

Modern Agriculture ◽

Capital Productivity ◽

Land Rents ◽

Agricultural Land Prices ◽

The Eu

Abstract Occurrence of land rents in modern agriculture of the EU is confirmed by the long-lasting upward trend in agricultural land prices. However, a question arises whether these rents are differential ones, linked with a different productivity of agricultural land, absolute ones in the classical sense, or political rents in the meaning of the public choice theory? The objectives of the article are mainly theoretical. The authors made an attempt at verifying the concept of land rent formulated on the basis of studies carried out in Poland. This time, the scope of research includes a cross-section of all agricultural structures of the EU. According to the above-mentioned concept, the source of a modern land rent is higher expected productivity of capital in agriculture than in its market environment. This phenomenon is often justified by paying political rents within the CAP. Is it really the case? The conducted research answers i.a. the question: in which countries and agricultural structures the possible difference of the abovementioned capital productivity is the biggest and to what extent it results from political rents or other factors?

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Determination and forecast of agricultural land prices

Nova Economia ◽

10.1590/0103-6351/1304 ◽

2014 ◽

Vol 24 (2) ◽

pp. 389-408 ◽

Cited By ~ 7

Author(s):

Bastiaan Philip Reydon ◽

Ludwig Einstein Agurto Plata ◽

Gerd Sparovek ◽

Rafael Guilherme Burstein Goldszmidt ◽

Tiago Santos Telles

Keyword(s):

Agricultural Land ◽

Production Systems ◽

Multiple Regression Model ◽

Hedonic Price ◽

Land Prices ◽

Independent Variables ◽

Production Location ◽

Physical Attributes ◽

Parsimonious Model ◽

Agricultural Land Prices

The aim of this study is to discuss and apply hedonic methodology for the determination and forecast of land prices in specific markets. This is important due to the fact that there is no official or reliable information in Brazil on current prices in land market transactions. This hedonic price methodology uses a multiple regression model which has, as an explanatory variable, the price per hectare and independent variables related to physical attributes (soil, climate and terrain), production (systems of production, location, access), infrastructure of the property and expectations (regional scenario, local investments). Application of the methodology to a Homogeneous Zone of the state of Maranhão, in Brazil, generated a parsimonious model, in which five independent variables were responsible for 70% of the variance in the price of agricultural land.

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Multilevel Analysis of the Pressure of Agricultural Land Conversion, Degree of Urbanization and Agricultural Land Prices in Taiwan

Land ◽

10.3390/land9120474 ◽

2020 ◽

Vol 9 (12) ◽

pp. 474

Author(s):

Chun-Chang Lee ◽

Yi-Xin Chen ◽

Yun-Ling Wu ◽

Wen-Chih Yeh ◽

Chih-Min Liang

Keyword(s):

Land Use ◽

Multilevel Analysis ◽

Agricultural Land ◽

Land Conversion ◽

Land Price ◽

Related Factors ◽

Land Prices ◽

Level 1 ◽

Agricultural Land Prices ◽

Level 2

In 2000, to efficiently implement land-use policies, the Taiwanese government amended the Agricultural Development Act by easing restrictions on agricultural land purchases. As a result of increasing land development and investment needs, agricultural land prices have surged. This study aims to examine whether agricultural land prices in Pingtung County are affected by land control policy measures, the pressure of agricultural land conversion and the degree of urbanization. A multilevel analysis approach was used to analyze land price differences in townships in Pingtung County. The estimation results derived from the null model indicated significant differences between the mean land price in each administrative division. Specifically, the ratio of agricultural land prices affected by differences in Level 2 township-related factors was 21.8%, while the ratio of those affected by differences in Level 1 land-related factors was 78.2%. An empirical intercepts-and-slopes-as-outcomes regression model demonstrated that Level 2 township-related factors, such as the pressure of agricultural land conversion and the degree of urbanization, had cross-level, direct and positive impacts on agricultural land prices; while Level 1 land-related factors, such as lot size control measures on farmhouse construction and land-use zoning, had positive and significant impacts on agricultural land prices.

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