Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Estimating location values of agricultural land
Humboldt-Universität zu Berlin, Germany.
Humboldt-Universität zu Berlin, Germany.
Humboldt-Universität zu Berlin, Germany.
Humboldt-Universität zu Berlin, Germany.ORCID iD: 0000-0003-2543-3673
2017 (English)Report (Other academic)
Abstract [en]

“Bodenrichtwerte” reflect the average location value of land plots within a specific area. They constitute an important source of information that contributes to price transparency on land markets. In Germany, “Bodenrichtwerte” are provided by publicly appointed expert groups (Gutachterausschüsse). Using empirical data from Mecklenburg-Western Pomerania between 2013 and 2015, this article examines the relation between “Bodenrichtwerten” and statistically determined location values. It turns out that “Bodenrichtwerte” tend to underestimate location values of arable land by 11.5 percent on average. This underestimation can be traced back to the pronounced increase of land prices in the observation period. As an alternative to the expert-based determination of location values, we suggest a nonparametric smoothing procedure that rests on the Propagation-Separation Approach. The application of this data-driven procedure achieves an accuracy comparable to that of official “Bodenrichtwerte” at the one-year ahead prediction of location values without the requirement of expert knowledge.

Place, publisher, year, edition, pages
Berlin: Humboldt-Universität zu Berlin , 2017. , p. 17
Series
SFB 649 Discussion Paper, ISSN 1860-5664 ; 2017-002
Keywords [en]
land value; adaptive weight smoothing; agricultural land markets; propagation-separation approach; PSA
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-55231OAI: oai:DiVA.org:hj-55231DiVA, id: diva2:1616820
Available from: 2021-12-04 Created: 2021-12-04 Last updated: 2021-12-04Bibliographically approved

Open Access in DiVA

No full text in DiVA

Other links

Fulltext

Authority records

Ritter, Matthias

Search in DiVA

By author/editor
Ritter, Matthias
Economics

Search outside of DiVA

GoogleGoogle Scholar

urn-nbn

Altmetric score

urn-nbn
Total: 11 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf