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Landwirtschaftlicher Bodenmarkt - Dominanz der nicht-landwirtschaftlichen uber die landwirtschaftlichen Faktoren?

Author

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  • Giuliani, Gianluca
  • Rieder, Peter

Abstract

The aim of the study presented in this article is to identify existing conflicts of land use and ownership in the 'Landwirtschaftszone', together with the problems arising therefore. This paper discusses determinants of farmland prices in Canton Zurich. A hedonic price model was used to estimate 1) the implicit value of an agricultural use of a land parcel, 2) the implicit value of the option to convert a farm parcel to a non-farm use and 3) the implicit consumptive value (value of owning land) of agricultural land. The analysis found farmland prices are influenced by agricultural production attributes as well as factors that influence the non-agricultural demand for land. In Canton Zurich, it can be assumed that economic development has already taken place in all communities in which it was possible. Its effect on farmland prices is therefore already manifested by influencing factors such as population density and the circumstances regarding land use. Once the new law on farmland became effective (1.1.1994), speculatory motives became much less a feature of land purchases. The weight of the factors determining price has thus shifted from "non-agricultural" to "agricultural". Arousing concern is on the other hand the fact that after 1994, the likelihood of transactions on good parcels located in economically strong communities has shrunk significantly. The ruling on maximum price may be responsible for the demise of the agricultural land market. The policy recommendations arising from the results relate both to the provisions of farmland legislation and to aspects of the law on space planning. In particular, innovations are proposed with regard to the keeping of price statistics, the terms of taking possession at income value and the definition of agricultural structures.

Suggested Citation

  • Giuliani, Gianluca & Rieder, Peter, 2003. "Landwirtschaftlicher Bodenmarkt - Dominanz der nicht-landwirtschaftlichen uber die landwirtschaftlichen Faktoren?," Agrarwirtschaft und Agrarsoziologie/ Economie et Sociologie Rurales, Swiss Society for Agricultural Economics and Rural Sociology, issue 1.
  • Handle: RePEc:ags:agrarw:31996
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    File URL: http://purl.umn.edu/31996
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    References listed on IDEAS

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    1. Myrick Freeman, A. III, 1974. "On estimating air pollution control benefits from land value studies," Journal of Environmental Economics and Management, Elsevier, vol. 1(1), pages 74-83, May.
    2. Miranowski, John & Hammes, B., 1984. "Implicit Prices of Soil Characteristics for Farmland in Iowa," Staff General Research Papers Archive 10706, Iowa State University, Department of Economics.
    3. Joseph A. Herriges & Jason F. Shogren & Nancy E. Barickman, 1992. "The Implicit Value of Corn Base Acreage," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(1), pages 50-58.
    4. d'Arge, Ralph C. & Shogren, Jason F., 1989. "Okoboji experiment: Comparing non-market valuation techniques in an unusually well-defined market for water quality," Ecological Economics, Elsevier, vol. 1(3), pages 251-259, October.
    5. J. S. Shonkwiler & J. E. Reynolds, 1986. "A Note on the Use of Hedonic Price Models in the Analysis of Land Prices at the Urban Fringe," Land Economics, University of Wisconsin Press, vol. 62(1), pages 58-63.
    6. Charles B. Moss, 1997. "Returns, Interest Rates, and Inflation: How They Explain Changes in Farmland Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1311-1318.
    7. Barry Falk & Bong-Soo Lee, 1998. "Fads versus Fundamentals in Farmland Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(4), pages 696-707.
    8. Cynthia J. Nickerson & Lori Lynch, 2001. "The Effect of Farmland Preservation Programs on Farmland Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(2), pages 341-351.
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