Agricultural land market


Average prices of the agricultural land transactions
Contact
Contact organisation

National Statistical Institute

Contact organisation unit

Agricultural and Forestry Accounts and Prices Department

Contact name

Girgina Nikolova

Krasimira Tsonkovska

Contact person function

Head of Department

State Expert

Contact mail address

2, P.Volov Str., 1527 Sofia, Bulgaria

Contact email address
Contact phone number
+359 2 9857-646
+359 2 9857-465
Contact fax number

-

Metadata update
Metadata last certified30 July 2021
Metadata last posted30 July 2021
Metadata last update30 July 2021
Statistical presentation
Data description

The National Statistical Institute of Bulgaria has provided Eurostat with annual data on the prices of agricultural land transactions and rent payment in agriculture since 2000. The grant in 2011 aimed at the development of comparable statistical data according to the Target Methodology and envisaged to set up the improved national data collection system and to ensure data quality by introducing new tools for data collection and data checks in order to meet users' needs and access to the data. The three years period for observation (2010, 2011 and 2012) has been selected, moreover the 2012 information was collected on the quarterly bases. After the completion of the project, the NSI continued to develop this statistical information and providing data to Eurostat on a regular basis.

Within the survey data for the next variables are collected:

• Number of transactions;

• Total land area sold by the observed unit in the reference period;

• Sale price per unit of area.

Classification system

For data compilation next classifications are used:

• Classification of Territorial units for Statistics in Bulgaria (NUTS)

• Classification of observed Land use categories

• Classification of Economic Activities in Bulgaria (NACE 2008, Rev. 2)

• National Register of Populated places in Bulgaria

Sector coverage

Data on the sale price of agricultural land are collected from three main groups of respondents operating on the agricultural land market:

• Agricultural holdings, buying agricultural land for development of their economic activity (NACE 2008, code 01)

• Land transactions companies established according to the National legislation specially to carry out operations (purchase, sale and rental) of agricultural land (NACE 2008, code 6810 and 6820)

• Real estate agencies (limited number)buying and selling agricultural land (NACE 2008, code 6831)

Only those agricultural land transactions where its purpose for agricultural production is not changed are taken into account.

Statistical concepts and definitions

1. Definition of the price of agricultural land According to the market price concept, the price of agricultural land (arable land, permanent grassland) is the price received/paid by the holder in free trade without deduction of taxes or levies and without the inclusion of subsidies. In practice, this means the actual price agreed upon by the transactors. Any taxes that the seller may have to subsequently pay as a result of selling the land, such as capital gains tax, would not be deducted from the price. The selling/purchase price of land should thus exclude:

• costs of transferring ownership (therefore lawyer's fees, registration taxes and real estate tax are not included in the land price);

• deductible VAT;

• the entitlements related to the land;

• the value of any monetary compensation received by farmers for the sale/acquisition of the Utilized Agricultural Area (UAA);

• the value of any building on the sold/purchased agricultural land;

• inheritance transfers.

Within the survey data on absolute prices of the agricultural land transactions is collected. There is no need respondents to calculate average prices in cases of several transactions made. In this case they fill-in the most frequently contracted price when they buy/sale agricultural land within the area of corresponding populated place.

2. Observed land use categories

• Arable land - land worked (ploughed or tilled) regularly, generally under a system of crop rotation (as defined for the latest Farm Structure Survey).

• irrigable arable land – arable land area which could, if necessary, be irrigated in the reference year using the equipment and the quantity of water normally accessible

• non-irrigable arable land - arable land area which cannot be irrigated due to the lack of access to water for irrigation

• Permanent grassland - land used permanently (for five years or more) to grow herbaceous forage crops, through cultivation (sown) or naturally (self-seeded) and which is not included in crop rotation

According to the data from the Agricultural Farm Structure Surveys the irrigable land represented non-significant value of the total UAA in Bulgaria and thus in compliance with the Common Methodology the breakdown of the average price of land transactions by two subcategories of arable land (the irrigable and non-irrigable) was not carried out.

Statistical unit

1. Reporting units:

Data on the sale price of agricultural land are collected from three main groups of respondents operating on the agricultural land market:

• Agricultural holdings,buying agricultural land for development of their economic activity (NACE code 01)

• Land transactions companies established according to the National legislation specially to carry out operations (purchase, sale and rental) of agricultural land (NACE code 6810 and 6820)

• Real estate agencies (limited number) buying and selling agricultural land (NACE code 6831). Only those agricultural land transactions where its purpose for agricultural production is not changed are taken into account.

2. Observation unit

The observation unit is the price of 1 decar of agricultural land purchased/sold.

Statistical population

• The statistical population for the agricultural holdings and real estate agencies is defined on the base of information for the acquisition of fixed assets (land is presented as a separate item), reported by them in the Annual Activity Report of Non-financial Enterprises.

• For the Land transactions companies the statistical population is defined on the base of information on reported value of changes in the fixed assets during the calendar year in the Annual Report of Consolidated Annual Activity Report of Specialized Investment Firms.

All units above a certain value threshold are included in the monitoring.

Reference area

The survey includes all units that meet the defined value threshold, as a result of which some of the districts (at NUTS 3 territorial level) remain outside its scope.

Time coverage

The data from 2010 onwards meet the requirements of the Eurostat Common Methodology.

Base period

Not applicable.

Unit of measure

BGN per 1 decar sold agricultural land

In order to meet the requirements of the Eurostat Common Methodology, prices are then recalculated in BGN per hectare.

Reference period

Calendar year.

Institutional mandate
Legal acts and other agreements

1. Common EU Methodology on Agricultural Land prices and rents;

2. ESS-net agreement between Eurostat and members states;

3. National Law on Statistics;

4. National Statistical Programme.

Data sharing

Data from the survey are included in Agreements for data exchange and strategic partnership between the National Statistical Institute and other bodies.

Data to Eurostat are supplied according to ESS-net agreement.

Confidentiality
Confidentiality - policy

• Law on Statistics: http://www.nsi.bg/en/node/218/;

• Regulation (EC) 223/2009 on European statistics (recital 24 and Article 20 (4)) of 11 March 2009 (OJ L 87, p 164) foresee that for that purpose it is necessary to establish common principles and guidelines, ensuring data confidentiality of data used for production of European Statistics and access to those confidential data with account for technical developments and requirements of users in democratic society.

http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2009:087:0164:0173:EN:PDF

Confidentiality - data treatment

Individual data shall not be published, observing art. 25 of the Law on Statistics. The dissemination of individual data is made only under Art. 26 of the Law on Statistics.

Problems with the confidentiality of data arise at lower geographic levels and for smaller categories of land, where in some cases there are separate transactions or renting of agricultural land. In this case, the data is aggregated at the higher geographic level.

Release policy
Release calendar

The schedule for dissemination of statistical information from the survey on agricultural land prices and rents is published in the Release Calendar presenting the results of the statistical surveys carried out by the NSI.

Release calendar access

The calendar is available on the NSI website: http://www.nsi.bg/en/node/480

User access

Data are published in compliance with the Chapter 5 of the Law on Statistics and European Statistics Code of Practice, considering professional independence and with aim of impartiality and transparency, where all users are treated equal.

Frequency of dissemination

Annual.

Accessibility and clarity
News release

The press releases are published regularly on the NSI website in the year following the reference period in Bulgarian and English, together with the dissemination of the data.

The press release can be accessed at http://www.nsi.bg/en/node/11616/?qt-statistical_domain_en=4

Publications

The data are published regularly on the NSI website in the year following the observation period in Bulgarian and English in the domain Statistical data/Agriculture and Forestry/Agriculture.

On-line database

Data are available in IS INFOSTAT and acces was given through the NSI website: http://www.nsi.bg/en/node/11616

Micro-data access

Not applicable.

Other

Not applicable.

Documentation on methodology

• Metadata for agricultural land and rent price statistics are published in SDMX format on the NSI website under the heading “Metadata and methodology”;

• A Common methodology on Agricultural land prices and rents in agriculture in EU is available at the same link in Bulgarian and English.

Metadata and the Common Methodology can be accessed at the following link: http://www.nsi.bg/en/content/11615/agricultural-land-market-and-rent?qt-statistical_domain_en=2#qt-statistical_domain_en.

Quality documentation

Quality report is not available.

Quality management
Quality assurance

The methods and procedures for the calculation of data are periodically described and their compliance with the Eurostat Common Methodology is documented.

During the meetings of the Agricultural Accounts and Prices Working Group, questions of methodological nature are discussed and examples of good data development practices are presented.

Comparative analysis with data from previous periods and other sources of information is made.

Quality assessment

The assessment of the quality of the data is performed through an analysis of the representativeness of the collected information. This is done by measuring the achieved scope of survey and by comparing the survey data with data from other statistical areas - Annual business statistics - for investments of agricultural land in value and agricultural statistics - for the scope of leased land.

Comparisons are also made between the prices of transactions with agricultural land and rents in two consecutive years, at the lowest geographical level.

In case of established deviations (+; - 25%) they are subject to further clarifications with the respondents. Extreme (very low and very high) prices are usually excluded from the calculation of average prices.

Relevance
User needs

The main user of data is the Ministry of Agriculture, Food and Forestry. Data are also provided to the business and to citizens.

User satisfaction

The survey of user’s satisfaction is not conducted.

Completeness

All required data sets, including data at regional level are reported to Eurostat. Data on irrigated and non-irrigated land are not compiled as far non-irrigated land is below as percentage of total agricultural land as the Common Methodology requires.

Accuracy and reliability
Overall accuracy

The accuracy of data is achieved by ensuring a satisfactory scope in the selection of respondents, development of reliable statistical tools, including IT environment for data collection, data control and data editing through elimination of extreme values and methodological instructions for survey implementation.

Sales of permanent grassland are limited in Bulgaria.

The permanently grassed areas, for the most part, are owned by the municipalities and are used for free grazing of animals (in the majority of cases).

The large differences in the reported prices of transactions with permanent grassland from year to year are usually due to the small number of transactions with small areas.

Sampling error

Not applicable.

Non-sampling error

Non-response rate is calculated.

Timeliness and punctuality
Timeliness

Data from the Survey on agricultural land prices and rents in agriculture are published according to the Release Calendar of the results of NSI statistical surveys. Data were first published on 24.04.2017.

Punctuality

No delays have been made with regard to deadlines for sending Eurostat data and to timetable in the Release Calendar of the results of statistical surveys conducted by the NSI.

 

Coherence and comparability
Comparability - geographical

The data are geographically comparable for the entire period for which they are available.

Comparability - over time

The data are comparable in time for the period after 2010.

Coherence - cross domain

A comparison is made with the data from the Annual business statistics, comparing the value of the costs for acquisition of tangible fixed assets (in particular for agricultural land) and the value of the sold / bought agricultural land, estimated within the survey of the price of agricultural land and rent .

Consistency with other statistical areas has not been studied.

 

Coherence - internal

The internal coherence of data is ensured by using the same definitions, classifications, and methods of observation.

Cost and burden

The budget (financial resources) needed for the implementation of survey is published in the National Statistical Program on the NSI website. In order to reduce the burden on respondents, an electronic off-line questionnaire containing logical controls is used.

 

Data revision
Data revision - policy

According to the established policy, data revisions are made when the methodology, the classifications and definitions used are changed.

Data revision - practice

So far not data revision has been made.

The Farm Structure Surveys are carried out over a certain period of time (usually three years) and as far as land data are used as weights for weighing agricultural land prices and rents, for some of the years in the period it is necessary to recalculate the average prices, once the data on the areas by category of land are available.

Statistical processing
Source data

Direct observation trough implementation of statistical survey.

Frequency of data collection

Annual.

The National Statistical Institute of Bulgaria has provided Eurostat with annual data on the prices of agricultural land transactions since 2010.

Data collection

The data are collected via an electronic offline questionnaire, which is sent to the respondent by e-mail. The questionnaire is also available on the NSI's website, where it can be downloaded from the respondents or experts from the Regional Offices, for subsequent filling in the required information. After filling in the data by the respondent, the questionnaire is returned by e-mail to a special address of the Regional Statistical Office, in the territory in which it operates. Each regional statistical office is responsible for collecting information from respondents on its territory. Experts at the Regional Offices are required to review the completeness and correctness of information received from respondents. Errors discovered are communicated to the respondents and are required to send correct information from them.

Data validation

The validation of data in the process of statistical processing is done by means of specially developed software. The development of the software is in accordance with a technical specification written by the responsible experts for conducting the statistical survey. The validation of the data is done at two levels: at the regional level - by the experts in RSOs and nationally - by the NSI experts.

Data compilation

Data processing is done using software specifically developed for this purpose. The development of the software is in accordance with a technical specification written by the responsible experts for conducting the statistical survey. The data processing is done at two levels: regional - in RSOs and national - at NSI.

At the regional level, the process involves checking data, editing data, validating data, and setup of a regional database.

At national level, the process involves checking of regional data, editing data, validating data, setup of a national database, and tabulation (automatically produced tables containing aggregated data on the number of transactions, size of sold land and weighted average prices broken down by land use categories and geographical levels.

The aggregation of data at national level is in accordance with the Common methodology for agricultural land prices and rents in agriculture. At the territorial level "municipality" (LAU2) the average price of transactions for the respective category of agricultural land is calculated as an arithmetic mean of the prices reported by the respondents.

At NUTS3 level (district), NUTS2 level (statistical region), NUTS1 level (statistical zone) and NUTS0 (national level) the average price for the respective land use category was calculated as average weighted value. For the land transactions as weight  the area of arable land and of permanents grassland were used. The size of areas (weights) are regularly updated once the data from the last Farm Structure Survey were released.

 

 

Adjustment

Not applicable.

Comment

-

Metadata Structure Definition in SDMX 2.1: ESMS_MSD+BNSI+2.0+SDMX.2.1.xml
Metadata Structure Definition in SDMX 2.0: ESMS_MSD+BNSI+2.0+SDMX.2.0.xml
  • Tuesday, 22 June 2021 - 11:00

    In 2020 the average price of arable land transactions in Bulgaria reaches BGN 1 042 per decare, and the average price of arable land rents - BGN 46 per decare. Compared to the previous year, the price of arable land decreased by 1.0%, and the rent payments - by 6.1%.

  • Friday, 14 May 2021 - 11:00

    The producer price index in agriculture in the first quarter of 2021 increased by 18.6% in comparison with the same quarter of 2020. The price index of crop output increased by 28.9% while the animal output decreased by 3.7%. In comparison with the previous year, the prices of agricultural output went up by 16.8%, as in crop output they increased by 24.8%, and in animal output a slight decrease of 0.6% was registered.

    The index of prices of goods and services currently consumed in agriculture in the first quarter of 2021 was higher by 1.2% compared to the same quarter of the previous year and by 3.3% compared to 2020.

  • Monday, 15 February 2021 - 11:00

    The producer price index in agriculture in the fourth quarter of 2020 increased by 15.8% in comparison with the same quarter of 2019. The crop output index increased by 19.9%, while the animal output index decreased by 5.3%. In comparison with previous year, the prices of agricultural output went up by 17.5% as result of the increase in crop output price index was by 20.9% and the animal output price index decreased by 0.4%.

    The index of prices of goods and services currently consumed in agriculture in the fourth quarter of 2020 was by 4.5% lower compared to the same quarter of previous year and by 3.8% compared to 2019.

  • Friday, 18 December 2020 - 11:00

    According to the first estimate of Economic Accounts for Agriculture in 2020 the value of final output in agriculture was by 8.3% lower than in previous year. The gross value added decreased by 11.5%, net operating surplus/mixed income - by 6.4% and net entrepreneurial income by 6.3%.

  • Monday, 16 November 2020 - 11:00

    The producer price index in agriculture in the third quarter of 2020 increased by 6.8% in comparison with the same quarter of 2019. The crop output index increased by 7.6% and the animal output index increased by 1.7%. In comparison with previous year, the prices of agricultural output went up by 4.2% as the increase in crop output price index was by 4.9%, while the animal output price index remained almost unchanged - a minimal increase of 0.1% was registered.

    The index of prices of goods and services currently consumed in agriculture in the third quarter of 2020 was by 3.9% lower compared to the same quarter of previous year and by 3.8% compared to 2019.

  • Wednesday, 21 October 2020 - 11:00

    The value of final output in agriculture in 2019 (preliminary data) compared to the previous year went up by 0.5%. The gross value added increased by 1.7%, net operating surplus/mixed income - by 3.7% and net entrepreneurial income by 4.3%.

  • Friday, 14 August 2020 - 11:00

    The producer price index in agriculture in the second quarter of 2020 increased by 2.8% in comparison with the same quarter of 2019. The crop output index increased by 3.7% and in animal output - by 1.6%. Compared to previous year, the prices of agricultural output went up by 4.3% as the increase in crop output prices was by 7.5%, while the prices of animal output remained almost unchanged.

    The index of prices of goods and services currently consumed in agriculture in the second quarter of 2020 was by 5.3% lower compared to the same quarter of previous year and by 4.2% compared to 2019.

  • Friday, 19 June 2020 - 11:00

    The average price per one decar arable land in 2019 in Bulgaria reached BGN 1053 and per one decar hired/leased arable land - BGN 49. In comparison to the previous year in the price of land transactions increase by 7.4% was reported, while the price of rental payments was lower by 2%.

  • Friday, 15 May 2020 - 11:00

    The producer price index in agriculture in the first quarter of 2020 increased by 6.0% in comparison with the same quarter of 2019. The crop output index increased by 5.9% and the animal output index increased by 6.3%. In comparison with previous year, the prices of agricultural output went up by 7.7% as the increase in crop output price index was by 9.4% and in animal output price index increase was by 4.4%.

    The index of prices of goods and services currently consumed in agriculture in the first quarter of 2020 was by 2.4% higher compared to the same quarter of previous year and by 0.1% compared to 2019.

  • Friday, 14 February 2020 - 11:00

    The producer price index in agriculture in the fourth quarter of 2019 increased by 2.8% in comparison with the same quarter of 2018. The crop output index increased by 0.9% and the animal output index increased by 12.6%. In comparison with previous year, the prices of agricultural output went up by 1.6% as the decrease in crop output price index is by 0.4% and in animal output price index increase is by 11.7%.

    The index of prices of goods and services currently consumed in agriculture in the fourth quarter of 2019 was by 1.4% higher compared to the same quarter of previous year and by 2.1% compared to 2018.

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