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An Estimation Of Farmland Prices In Romania After The Application Of Law 17 Of 2014

Author

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  • Lucian LUCA

    (Institute of Agricultural Economics, Romanian Academy, Bucharest)

Abstract

The paper presents an estimate of the average national price of agricultural land, for the years 2014 (second half), 2015, 2016 and 2017 (the first three quarters). Throughout the investigated period, the average price was about 4000 euro/ha. For this estimation, the public data on the sale offers of agricultural land outside the localities were used, for parcels larger than 30 ha. For the comparison with the prices of parcels smaller than 30 ha, the average price in the third quarter of 2017 was also estimated, for three counties (Bacău, Olt and Mureş). The results confirm the experts’ perception of the price gaps between the small-sized parcels and the large-sized parcels, the value of the latter being almost double. The analysis also highlights the differences between the farmland prices in the counties with high agricultural potential, from the plain area, where the number of transactions with consolidated land is also higher, compared to the counties from the hilly area, where prices are lower.

Suggested Citation

  • Lucian LUCA, 2018. "An Estimation Of Farmland Prices In Romania After The Application Of Law 17 Of 2014," Agricultural Economics and Rural Development, Institute of Agricultural Economics, vol. 15(1), pages 15-28.
    • Handle: RePEc:iag:reviea:v:15:y:2018:i:1:p:15-28
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    References listed on IDEAS

    as
    1. Lucian LUCA, 2014. "Romanian Land Market Regulatory Framework: The Legislative Corrections In 2014," Agricultural Economics and Rural Development, Institute of Agricultural Economics, vol. 11(2), pages 203-212.
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      More about this item

      Keywords

      farmland acquisition; land price; Romanian legislation.;
      All these keywords.

      JEL classification:

      • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
      • Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land

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