Is there a term structure in land lease rates?

Hüttel, Silke; Ritter, Matthias; Esaulov, Viacheslav; Odening, Martin

doi:10.1093/erae/jbv010

Cited by 15 publications

(18 citation statements)

References 16 publications

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“…Similarly, for a one-unit increase in soil quality, we expect an 1.2% increase in farmland sales prices. These results are consistent with those in the first model, as well as with conclusions drawn by Hüttel et al [6,17,37,38].…”

Section: Results Of the Transaction-based Modelsupporting

confidence: 93%

“…A one-unit increase in average soil quality within the community increases the average farmland price per hectare by 0.9%. Similar results showing a positive impact of plot size and soil quality on farmland prices in ST have been found and discussed by Hüttel et al [6,17,37,38]. Some differences in coefficients between our study and those of Hüttel et al can be explained by the fact that despite being based on data in ST, different time periods were considered and different data preparation and estimation methods were used.…”

Section: Results Of the Community-based Modelsupporting

confidence: 85%

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The Influence of Wind Energy and Biogas on Farmland Prices

Myrna¹,

Odening²,

Ritter³

2019

Land

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In the context of the rapid development of renewable energy in Germany in the last decade, and increased concerns regarding its potential impacts on farmland prices, this paper investigates the impact of wind energy and biogas production on agricultural land purchasing prices. To quantify the possible impact of the cumulative capacity of wind turbines and biogas plants on arable land prices in Saxony-Anhalt, we estimate a community-based and a transaction-based model using spatial econometrics and ordinary least squares. Based on data from 2007 to 2016, our analysis shows that a higher cumulative capacity of wind turbines in communities leads to higher farmland transaction prices, though the effect is very small: if the average cumulative capacity of wind turbines per community doubles, we expect that farmland prices per hectare increase by 0.4%. Plots that are directly affected by a wind turbine or part of a regional development plan, however, experience strong price increases.

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Section: Results Of the Transaction-based Modelsupporting

confidence: 93%

Section: Results Of the Community-based Modelsupporting

confidence: 85%

The Influence of Wind Energy and Biogas on Farmland Prices

Myrna¹,

Odening²,

Ritter³

2019

Land

Self Cite

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“…Habermann and Ernst [56] consider the influence of the agricultural structure on rental prices in the case of Germany and show that in regions with higher rent shares and higher competition the farmland rental price level increases. Another influencing factor identified in the literature is the contractual design of rental agreements [57]. Lastly, Emmann et al [22] showed that farmers perceive themselves to be in competition with non-agricultural investors.…”

Section: (€022) Andmentioning

confidence: 99%

German Farmers’ Perspectives on Price Drivers in Agricultural Land Rental Markets—A Combination of a Systematic Literature Review and Survey Results

Hobe

Michels

Mußhoff

2021

Land

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Despite the popularity of agricultural land markets as a research topic, a current literature review on price drivers on agricultural land rental markets is missing, which is crucial in order to gain an overview of the status quo. Furthermore, farmers’ perceptions of price drivers on agricultural land rental markets have not been considered sufficiently. Therefore, this study combines descriptive results from a survey with 156 German farmers conducted during 2019–2020 using purposive sampling and a systematic literature review. The systematic literature review reveals four important areas acting as price drivers in agricultural land rental markets: policy/Common Agricultural Policy (CAP), bioenergy, climate change, and market prices/competition. Based on the overview, several points of departure for further research are provided. Furthermore, results from the survey show that farmers’ perceptions of the relative importance of the price drivers differ from the results of scientific literature. Therefore, perceptions of farmers should be considered for possible policy interventions derived from scientific evidence.

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“…Brownian motion and Wiener process and partial differential equations). These works inspired S. Hüttel et al to construct relevant tools to analyse rents paid for UAA (Hüttel et al, 2016). The following hedonic model was used as a starting point:…”

Section: (349) 2016 New Directions Of Research On Rental Feesmentioning

confidence: 99%

Wybrane Problemy Wyceny Wartości Ziemi Rolniczej I Ustalania Czynszów Za Jej Dzierżawę

Kulawik

2016

Zagadnienia Ekonomiki Rolnej

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Farmland is a specific economic good of almost fundamental importance for the current societies and their development and prosperity perspectives. It underlies the traditional agricultural activity and this process will continue in the foreseeable future, but in the conditions of incessantly growing number of people on Earth, most of which still experiencing various quantitative and qualitative food shortages. Their basic needs will be satisfied in the conditions of progressing climate change, water problems and shrinking land acreage suitable for agricultural use. The above circumstances highlight the second aspect of farmland, i.e. its role as the source of diverse ecosystem and agri-environmental services provision. The fact that land meets many functions at the same time poses a serious challenge for land valuation. Precision in this field largely predetermines the amount of rents for the factor of production. In this context the key aim of the paper is to present the evolution of formal concepts and empirical models used to determine farmland value and rents for the possibility to benefit from its use.

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Is there a term structure in land lease rates?

Cited by 15 publications

References 16 publications

The Influence of Wind Energy and Biogas on Farmland Prices

The Influence of Wind Energy and Biogas on Farmland Prices

German Farmers’ Perspectives on Price Drivers in Agricultural Land Rental Markets—A Combination of a Systematic Literature Review and Survey Results

Wybrane Problemy Wyceny Wartości Ziemi Rolniczej I Ustalania Czynszów Za Jej Dzierżawę

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