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Zum Einfluss mitgehandelter Zahlungsansprüche auf die Kauf- und Pachtpreise von Ackerland in Schleswig-Holstein

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  • Hennig, Solveigh
  • Breustedt, Gunnar
  • Latacz-Lohmann, Uwe

Abstract

Dieser Beitrag analysiert den Einfluss von mitgehandelten Zahlungsansprüchen (ZA) auf die Kauf- und Pachtpreise von Ackerland. Die empirische Analyse beruht auf Daten aus Verträgen über den Handel von ZA und landwirtschaftlichen Nutzflächen, die zwischen 2005 und 2011 in Schleswig-Holstein geschlossen wurden. Mittels Regressionsanalysen werden die Kauf- bzw. Pachtpreise der Ackerflächen (mit und ohne ZA) durch wertgebende Flächenattribute sowie betriebsindividuelle, regionale und gesamtwirtschaftliche Einflussfaktoren erklärt. Der gleichzeitige Transfer von ZA findet in den Modellen explizit als zusätzliche potenzielle Einflussgröße Berücksichtigung, wobei der gesamte Beobachtungszeitraum in zwei Phasen unterteilt wird, um einen unterschiedlichen Einfluss der ZA in der Phase vor dem Gleitflug (bis 2009) und in der Gleitflugphase (ab 2010) zuzulassen. Die Stichprobe umfasst 135 Kaufverträge und 213 Pachtverträge. Im Ergebnis zeigt sich, dass Ackerpachtpreise in Schleswig-Holstein neben weiteren preisbeeinflussenden Faktoren signifikant positiv von mitgehandelten ZA beeinflusst werden. Der Pachtaufschlag je Hektar wird auf durchschnittlich 30-35 % der (bei Vertragsabschluss gültigen) ZANennwerte geschätzt. Ein Einfluss mitgehandelter ZA auf die Kaufpreise von Ackerland lässt sich in dieser Studie nicht nachweisen. This paper investigates the impact of payment entitlements traded in conjunction with farmland on the prices and rental rates of arable land. The empirical analysis is based upon a survey of land rental and land purchase contracts concluded in Schleswig-Holstein between 2005 and 2011. Regression analysis is used to estimate the impact of plot attributes, farm characteristics, regional and macroeconomic factors on arable land purchase prices and rental rates. The simultaneous transfer of payment entitlements enters the models as an additional explanatory variable. The observation period is sub-divided into two phases to account for the potentially differential impact of payment entitlements before (until 2009) and during the gliding phase (2010 and after). The sample comprises 135 land purchase contracts and 213 land rental agreements. The results show that rental rates for arable land in Schleswig-Holstein, besides being influenced by other factors, are significantly higher when a payment entitlement is traded with the land. The price-increasing effect is estimated to be on average 30-35 % of the payment entitlements’ nominal value at the time of contract conclusion. The analysis does not reveal a statistically significant impact of payment entitlements on the purchase price of arable land.

Suggested Citation

  • Hennig, Solveigh & Breustedt, Gunnar & Latacz-Lohmann, Uwe, 2014. "Zum Einfluss mitgehandelter Zahlungsansprüche auf die Kauf- und Pachtpreise von Ackerland in Schleswig-Holstein," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 63(04), pages 1-21, December.
    • Handle: RePEc:ags:gjagec:253195
    DOI: 10.22004/ag.econ.253195
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    2. Emmann, Carsten & Surmann, Dennis & Theuvsen, Ludwig, 2015. "Charakterisierung und Bedeutung außerlandwirtschaftlicher Investoren – Empirische Ergebnisse aus Sicht des landwirtschaftlichen Berufsstandes," Department of Agricultural and Rural Development (DARE) Discussion Papers 260787, Georg-August-Universitaet Goettingen, Department of Agricultural Economics and Rural Development (DARE).
    3. Helbing, Georg & Shen, Zhiwei & Odening, Martin & Ritter, Matthias, 2017. "Estimating Location Values of Agricultural Land," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 66(3), September.

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