Investigating the Determinants of Finnish Agricultural Land Prices Using Generalised Additive Model

Research output: Conference materialsPaper


The agricultural sector in Finland has witnessed a rapid structural change since the Finnish EUaccession. At the same time, agricultural land prices have increased considerably. Using a hedonic pricing model, we investigated the characteristics affecting the prices of parcels sold. We analysed a dataset consisting of over a thousand additional agricultural land transactions and discovered several regional and production related characteristics affecting prices. The generalised additive modelling framework enabled estimation of a regional price level as a smooth trend surface. The model captured spatial dependency in the prices while retaining the sensible interpretation of the results.
Original languageEnglish
Publication statusPublished - 27 Feb 2019
MoE publication typeNot Eligible
EventAgricultural Land Markets – Recent Developments, Efficiency and Regulation: 165th EAAE seminar - Humboldt-Universität zu Berlin, Berlin, Germany
Duration: 4 Apr 20195 Apr 2019


SeminarAgricultural Land Markets – Recent Developments, Efficiency and Regulation
Internet address

Fields of Science

  • 511 Economics

Cite this