Mahon, G.

Archive of European Integration

in focus AGRICULTURE AND FISHERIES THEME 5 - 4/2000 Contents Land prices 2 Rents 3 Manuscript completed on: 22/12/1999 ISSN 1562-1340 Catalogue number: CA-NN-OO-004-EN-C Price in Luxembourg per single copy (excl.VAT):EUR6 © European Communities, 2000 AGRICULTURAL LAND PRICES AND RENTS IN THE EUROPEAN UNION 1977-1998 • • • • • « f t * « · · · · · * · G. Mahon Annual change in the real index of agricultural land prices (%) -25 -20 -15 -10 -5 0 5 10 15 20 2 Β Arable land Β Meadow DK Agrie. Land D-11 Agrie. Land D-15 Agrie. Land EL Irrig. Land ELNon-img. Und E Irrig. Und E Non-img. Und F Arable land F Meadow IRL Agrie. Und 1 Agrie. Land LAgric.land NL Arabie land NL Meadow FIN Agrie. Land S Agrie. Land UK-En Agrie. Land UK-Wa Agrie. Land UK-NI Agric.land D1997 11998 J c ^Ξ i — J ■ ' I I 1 , , 5 4Í.6 For 1998, data on the price of agricultural land was available for thirteen Member States (see graph). In several of these Member States, for the deflated land price (see methodological notes) notable increases were observed:­ France (+2.0%, arable land; +2.5%, meadow), Germany (+3.5%, D­111), the Netherlands (+7.8%, arable land; +10.9%, meadow), Finland (+10.6%), Denmark (+12.4%), Sweden (+12.9%), Spain (+14.9%, irrigated land; +15.4%, non­irrigated land) and especially part of the United Kingdom (+19.6%, Northern Ireland), Ireland (+22.2%) and Luxembourg (+24.4%). There was little change in the price of land in two Member States:­ Belgium (+0.1%, arable land; +0.7% meadow) and Italy (+0.5%). In contrast notable price decreases were observed in Greece (­2.4%), Germany (­5.1%, D­16) and another part of the United Kingdom (­7.1%, England). In most Member States, the changes in the land price observed in 1998 continued the trends seen in 1997 although at different rates. However, in France (meadow) and Luxembourg the price increase in 1998 reversed the downward trend seen in 1997. In England, the price rise in 1997 (+3.8%) was followed by a fall in 1998 (­7.1%). 1 D-11: Germany in its frontiers before Octobre 1990, eleven Länder D-16: Germany in its frontiers after October 1990, sixteen Länder Concerning real agricultural rents, 1998 data were available for nine Member States. Rent increases were observed in Sweden (+2.1%), France (+2.4%, arable land) and Luxembourg (+3.1%). However, rent decreases were seen in Denmark (­0.4%), Austria (­1.5%) and Greece (­3.2%, arable land). In Belgium and the Netherlands, rents fell for meadow (­1.2% and ­2.9% res­pectively) but rose for arable land (+0.5% and +2.0% respectively). Within the United Kingdom, various changes were seen (­4.6%, Northern Ireland; ­0.1%, England; +7.9%, Wales; +19.3%, Scotland). Land prices Concerning the trends in the real price of agricultural land over the past two decades, most Member States showed a peak in the land price in the late 1970's. This was especially marked in France and Ireland where the land price in 1977 was more than twice that in 1990. In Scotland, Northern Ireland, Belgium and Denmark, the land price in 1977 was more than 50% higher than in 1990. A lower but still clear peak was seen in England, Wales and the Netherlands. The peak occurred somewhat later, in the early 1980's, in Italy and Germany. Luxembourg was an exception among the Member States, showing no such high land prices in the late 1970's or early 1980's. Land prices fell in most Member States during the 1980's but in some cases the prices recovered to a new peak in the late 1980's. This was the case in the Netherlands (for meadow), Denmark, and Spain (especially for irrigated land). Such a peak was observed in Luxembourg in the early 1990's. The notable increases in land prices in 1998 relative to 1997 for most Member States have already been noted. A remarkable price rise over the last eight years was observed in Northern Ireland, where the index of the real land price in 1998 was 219 relative to 100 in 1990. In Ireland the index in 1998 was 144 relative to 100 in 1990. The lowest real land prices in 1998 relative to 1990 were seen in Greece (irrigated land, index 64; non­irrigated land, index 55) and Finland (index 54). Β Β DK D-11 D-16 EL EL E E F F IRL I L NL NL FIN S UK-En UK-Wa UK-Sc UK-NI Arable land Meadow Agricultural land Agricultural land Agricultural land Irrigated land Non­irrigated land Irrigated land Non­irrigated land Arable land Meadow Agricultural land Agricultural land Agricultural land Arable land Meadow Agricultural land Agricultural land Agricultural land Agricultural land Agricultural land Agricultural land 1977 148 182 161 99 202 231 208 129 74 106 109 118 117 163 153 Real index 1990 1983 112 125 82 133 105 92 139 158 111 129 41 80 84 89 117 126 157 124 1988 100 102 105 99 124 111 114 110 105 106 80 100 56 89 120 110 104 136 97 99 = 100 1993 89 90 85 79 89 1) 75 74 62 73 85 84 91 90 91 96 97 54 83 1» 70 83 88 112 1998 86 95 128 82 70 1) 64 55 81 102 85 81 144 87 69 118 120 54 110 1) 100 219 Real ann 1994 -2.5 0.5 8.5 -0.9 -3.5 -0.3 -7.4 3.8 5.3 -2.7 -3.1 6.5 -0.3 ­31.8 -7.4 -3.0 -3.0 5.4 9.8 8.1 -7.7 14.9 1995 1.4 -2.0 12.0 2.1 -4.7 -1.9 -8.8 -3.5 -0.9 0.5 -0.7 3.9 -1.1 0.4 57 3.4 0.5 -4.4 10.4 16.0 26.5 14.8 nal rate of change 1996 -4.2 0.5 4.3 -2.0 -5.4 -8.6 -7.3 3.1 4.8 -0.4 -1.3 14.0 -2.7 -5.2 5.8 6.8 -8.6 6.3 22.2 9.7 ­15.0 -16.4 1997 2.5 4.8 6.1 0.4 -5.3 -2.2 -3.2 10.5 10.7 0.9 -0.4 3.0 0.1 -5.9 10.3 4.2 2.4 9.0 3.8 -3.9 48.6 1998 0.1 0.7 12.4 3.5 -5.1 -2.4 -2.4 14.9 15.4 2.0 2.5 22.2 0.5 24.4 7.8 10.9 10.6 12.9 -7.1 19.6 1) 1992 = 100 Statistics in focus — Theme 5 — 4/2000 ■ 'm eurostat Over the past twenty years, for certain Member States, there has been a downward trend in agricultural rents. This was ob­served for Belgium, Greece, France and Luxembourg. No such clear pattern was visible in other Member States, including Denmark, Germany, the Netherlands and the United Kingdom. (The data series Rents were shorter for the new Member States:­ Austria, Finland and Sweden.) Changes in agricultural rents in 1998 relative to 1997 for several Member States have already been noted. Rent increases were observed about as frequently as decreases. Relative to 1990 when the real index was 100, the index was low in Greece (75) but high in Scotland (120) and Wales (130). All other Member States for which data were available showed a more moderate trend, and the 1998 rent index ranged from 96 in Belgium to 110 in the Netherlands (arable land). Β Β DK D-11 D-11 EL F L NL NL A FIN S UK-En UK-Wa UK-Sc UK-NI Arable land Meadow Agricultural land All agricultural land New leases Arable land Arable land Agricultural land Arable land Meadow Agricultural land Agricultural land Agricultural land Agricultural land Agricultural land Agricultural land Agricultural land 1977 118 121 83 86 117 125 143 74 77 84 81 79 Real i 1983 103 106 103 1) 101 102 123 114 120 89 88 108 105 112 129 2) ndex 1990=100 1988 104 105 101 3) 96 3) 113 103 114 103 103 103 114 109 116 107 1993 95 94 96 90 91 82 98 91 94 112 100 4) 94 93 89 95 92 90 1998 101 96 106 93 5) 7 7 5, 75 101 89 110 108 97 7 7 5) 102 101 130 120 96 Real annual rate of change 1994 -0.8 0.8 6.2 -1.2 0.1 -3.0 3.2 -2.7 0.3 0.9 -0.4 4.4 6.6 6.6 1995 2.4 0.7 -1.0 -3.5 -2.9 -0.2 -0.2 0.4 1.0 -5.8 -1.5 ­10.2 -1.6 1.4 4.8 1.2 4.5 1996 2.9 2.0 6.5 -1.9 -0.1 -2.5 4.2 3.3 0.9 -2.6 4.5 9.2 11.1 0.3 7.5 1997 0.8 -0.5 -0.1 5.1 -5.3 -2.3 0.9 -0.3 5.8 5.7 -1.3 -7.3 4.4 3.5 4.0 1.2 -5.8 1998 0.5 ­1.2 ­0.4 ­3.2 2.4 3.1 2.0 ­2.9 ­1.5 2.1 ­0.1 7.9 19.3 ­4.6 1) 1982; 2) 1984; 3) 1987; 4) 1994; 5) 1997 > ESSENTIAL INFORMATION - METHODOLOGICAL NOTES provide a single indicator fór the European Union. Deflation: The indices of agricultural land prices and rents are available in Eurostat's database in both nominal and deflated form. Using the deflated indices avoids the distortions caused by different inflation rates in the Member States. The nominal indices are deflated by means of the implicit deflator of gross domestic product for each Member State. This replaces the previous use of the consumer price index as a deflator. The implicit deflator of gross domestic product is more appropriate for the deflation of the prices of factors of production such as land or its use. The terms "deflated" and "real" are used synonymously in this report. Type of index: The land prices and rents by Member States are expressed as a percentage of the levels in 1990 (i.e. 1990 = 100). These price relatives, or indices, allow trends to be compared among Member States. Because of differences in methodology, these indices cannot be aggregated across the Member States to Germany: Land price data are available for Germany in Its boundaries before October 1990 (D­11, eleven Länder) and after this date (D­16, sixteen Länder). However data on agricultural rents are only available for Germany in its previous frontiers (D­11). The various series for the former Germany (D­11) allow comparisons over a relatively long period. \m eurostat • 4/2000 — Theme 5 — Statistics in focus Further information: > Reference publications > Title Agricultural land prices and rents in the EU ­ Data 1977­1998 Catalogue No CA­26­99­546­3A­C Price EUR 26,5 Databases New Cronos Domain: PRAG To obtain information or to order publications, databases and special sets of data, please contact the Data Shop network: B E L G I Q U B B E L G I Ë D A N M A R K D E U T S C H L A N D ESPANA F R A N C E ITALIA - R o m a Eurostat Dati Shop Bruxelles/Brunei Planifiât Belgique 124 Rue du Commerce Handelsstraat 124 B-1000 BRUXELLES / BRUSSEL Tel. (32-2) 234 67 50 Fax (32-2) 234 67 51 E-Mal: datashop@planistat.be DANMARKS STATISTIK Bibliotek og Information Eurostat Data Shop Sejregade 11 DK-2100 KØBENHAVN 0 Tel. (45-39) 17 30 30 Fax (45-39) 17 30 03 E-Mail: bjb@dst.dk STATISTISCHES BUNDESAMT Eurostat Data Shop Berlin Otto-Braun-Strafse 70-72 D-10178 BERLIN Tel. (49-30) 23 24 64 27/28 Fax (49-30) 23 24 64 30 E-Mail: datashop@statsbk-bund.de INE Eurostat Data Shop Paseo de la Castellana, 183 Oficina 009 Entrada por Estèbanez Calderón E-28046 MADRID Tel. (34-91)583 9167 Fax (34-91) 579 71 20 E-Mail: datashop.eurostat@ine.es INSEE Info Service Eurostat Data Shop 195, rue de Bercy Tour Gamma A F-75582 PARIS CEDEX 12 Tel. (33-1)5317 88 44 Fax (33-1) 53 17 88 22 E-Mail: datashop@insee.fr ISTAT Centro di Informazione Statistica Sede di Roma, Eurostat Data Shop via Cesare Balbo. I l a 1-00184 ROMA Tel. (39-06) 46 73 31 02/06 Fax (39-06) 46 73 31 01/07 E-Mail: dipdiff@islat.it I T A L I A - M i l a n o L U X E M B O U R G N E D E R L A N D N O R G E P O R T U G A L SCHWEIZ /SU ISSE /SV IZZERA ISTAT Ufficio Regionale per la Lombardia Eurostat Data Shop vìa Fieno 3 1-20123 MILANO Tel. (3M2) 8061 32460 Fax (39-02) 8061 32304 E-mail: mileuro@bn it Eurostat Data Shop Luxembourg BP453 L-2014 LUXEMBOURG 4, rue A. Weicker L-2721 LUXEMBOURG Tel. (352) 43 35 22 51 Fax (352) 43 35 22 221 E-Mail: dslux@eurostatdatasfiop.lu STATISTICS NETHERLANDS Eurostat Data Shop-Voorburg pò box 4000 2270 JM VOORBURG Nederland Tel. (31-70) 337 49 00 Fax (31-70) 337 59 84 E-Mail: datashop@cbs.nl Statistics Norway Library and Information Centre Eurostat Data Shop Kongens gate 6 P. b. 8131, dep. N-0033OSLO Tel. (47-22) 86 46 43 Fax (47-22) 86 45 04 E-Mail: datasnop@ssb.no Eurostat Data Shop Lisboa INE/Serviço de Difusão Av. Antonio José de Almeida, 2 P-1000-043 LISBOA Tel. (351-21) 842 61 00 Fax (351-21) 842 63 64 E-Mail: data.shop@ine.pl Statistisches Amt des Kantons Zürich, Eurostat Data Shop Bleicherweg 5 CH-8090 Zürich Tel. 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Statistics in Focus: Agriculture and Fisheries. Agricultural Land Prices and Rents in the European Union, 1977-1998. 2000.4

in focus 
AGRICULTURE AND 
FISHERIES 
THEME 5 - 4/2000 
Contents 
Land prices 2 
Rents 3 
Manuscript completed on: 22/12/1999 
ISSN 1562-1340 
Catalogue number: CA-NN-OO-004-EN-C 
Price in Luxembourg per single copy 
(excl.VAT):EUR6 
© European Communities, 2000 
AGRICULTURAL LAND 
PRICES AND RENTS IN THE 
EUROPEAN UNION 
1977-1998 
• • • • • « f t * « · · · · · * · 
G. Mahon 
Annual change in the real index of agricultural land prices (%) 
-25 -20 -15 -10 -5 0 5 10 15 20 2 
Β Arable land 
Β Meadow 
DK Agrie. Land 
D-11 Agrie. Land 
D-15 Agrie. Land 
EL Irrig. Land 
ELNon-img. Und 
E Irrig. Und 
E Non-img. Und 
F Arable land 
F Meadow 
IRL Agrie. Und 
1 Agrie. Land 
LAgric.land 
NL Arabie land 
NL Meadow 
FIN Agrie. Land 
S Agrie. Land 
UK-En Agrie. Land 
UK-Wa Agrie. Land 
UK-NI Agric.land 
D1997 11998 
J 
c 
^Ξ 
i — J 
■ ' 
I 
I 
1 , , 
5 
4Í.6 
For 1998, data on the price of agricultural land was available for 
thirteen Member States (see graph). In several of these Member 
States, for the deflated land price (see methodological notes) notable 
increases were observed:­ France (+2.0%, arable land; +2.5%, 
meadow), Germany (+3.5%, D­111), the Netherlands (+7.8%, arable 
land; +10.9%, meadow), Finland (+10.6%), Denmark (+12.4%), 
Sweden (+12.9%), Spain (+14.9%, irrigated land; +15.4%, non­
irrigated land) and especially part of the United Kingdom (+19.6%, 
Northern Ireland), Ireland (+22.2%) and Luxembourg (+24.4%). There 
was little change in the price of land in two Member States:­ Belgium 
(+0.1%, arable land; +0.7% meadow) and Italy (+0.5%). In contrast 
notable price decreases were observed in Greece (­2.4%), Germany 
(­5.1%, D­16) and another part of the United Kingdom (­7.1%, 
England). 
In most Member States, the changes in the land price observed in 
1998 continued the trends seen in 1997 although at different rates. 
However, in France (meadow) and Luxembourg the price increase in 
1998 reversed the downward trend seen in 1997. In England, the price 
rise in 1997 (+3.8%) was followed by a fall in 1998 (­7.1%). 
1 D-11: Germany in its frontiers before Octobre 1990, eleven Länder 
D-16: Germany in its frontiers after October 1990, sixteen Länder 
Concerning real agricultural rents, 
1998 data were available for nine 
Member States. Rent increases 
were observed in Sweden (+2.1%), 
France (+2.4%, arable land) and 
Luxembourg (+3.1%). However, rent 
decreases were seen in Denmark 
(­0.4%), Austria (­1.5%) and Greece 
(­3.2%, arable land). In Belgium and 
the Netherlands, rents fell for 
meadow (­1.2% and ­2.9% res­
pectively) but rose for arable land 
(+0.5% and +2.0% respectively). 
Within the United Kingdom, various 
changes were seen (­4.6%, 
Northern Ireland; ­0.1%, England; 
+7.9%, Wales; +19.3%, Scotland). 
Land prices 
Concerning the trends in the real 
price of agricultural land over the 
past two decades, most Member 
States showed a peak in the land 
price in the late 1970's. This was 
especially marked in France and 
Ireland where the land price in 1977 
was more than twice that in 1990. In 
Scotland, Northern Ireland, Belgium 
and Denmark, the land price in 1977 
was more than 50% higher than in 
1990. A lower but still clear peak 
was seen in England, Wales and the 
Netherlands. The peak occurred 
somewhat later, in the early 1980's, 
in Italy and Germany. Luxembourg 
was an exception among the 
Member States, showing no such 
high land prices in the late 1970's or 
early 1980's. 
Land prices fell in most Member 
States during the 1980's but in some 
cases the prices recovered to a new 
peak in the late 1980's. This was the 
case in the Netherlands (for 
meadow), Denmark, and Spain 
(especially for irrigated land). Such a 
peak was observed in Luxembourg 
in the early 1990's. 
The notable increases in land prices 
in 1998 relative to 1997 for most 
Member States have already been 
noted. A remarkable price rise over 
the last eight years was observed in 
Northern Ireland, where the index of 
the real land price in 1998 was 219 
relative to 100 in 1990. In Ireland the 
index in 1998 was 144 relative to 
100 in 1990. The lowest real land 
prices in 1998 relative to 1990 were 
seen in Greece (irrigated land, index 
64; non­irrigated land, index 55) and 
Finland (index 54). 
Β 
Β 
DK 
D-11 
D-16 
EL 
EL 
E 
E 
F 
F 
IRL 
I 
L 
NL 
NL 
FIN 
S 
UK-En 
UK-Wa 
UK-Sc 
UK-NI 
Arable land 
Meadow 
Agricultural land 
Agricultural land 
Agricultural land 
Irrigated land 
Non­irrigated land 
Irrigated land 
Non­irrigated land 
Arable land 
Meadow 
Agricultural land 
Agricultural land 
Agricultural land 
Arable land 
Meadow 
Agricultural land 
Agricultural land 
Agricultural land 
Agricultural land 
Agricultural land 
Agricultural land 
1977 
148 
182 
161 
99 
202 
231 
208 
129 
74 
106 
109 
118 
117 
163 
153 
Real index 1990 
1983 
112 
125 
82 
133 
105 
92 
139 
158 
111 
129 
41 
80 
84 
89 
117 
126 
157 
124 
1988 
100 
102 
105 
99 
124 
111 
114 
110 
105 
106 
80 
100 
56 
89 
120 
110 
104 
136 
97 
99 
= 100 
1993 
89 
90 
85 
79 
89 1) 
75 
74 
62 
73 
85 
84 
91 
90 
91 
96 
97 
54 
83 1» 
70 
83 
88 
112 
1998 
86 
95 
128 
82 
70 1) 
64 
55 
81 
102 
85 
81 
144 
87 
69 
118 
120 
54 
110 1) 
100 
219 
Real ann 
1994 
-2.5 
0.5 
8.5 
-0.9 
-3.5 
-0.3 
-7.4 
3.8 
5.3 
-2.7 
-3.1 
6.5 
-0.3 
­31.8 
-7.4 
-3.0 
-3.0 
5.4 
9.8 
8.1 
-7.7 
14.9 
1995 
1.4 
-2.0 
12.0 
2.1 
-4.7 
-1.9 
-8.8 
-3.5 
-0.9 
0.5 
-0.7 
3.9 
-1.1 
0.4 
57 
3.4 
0.5 
-4.4 
10.4 
16.0 
26.5 
14.8 
nal rate of change 
1996 
-4.2 
0.5 
4.3 
-2.0 
-5.4 
-8.6 
-7.3 
3.1 
4.8 
-0.4 
-1.3 
14.0 
-2.7 
-5.2 
5.8 
6.8 
-8.6 
6.3 
22.2 
9.7 
­15.0 
-16.4 
1997 
2.5 
4.8 
6.1 
0.4 
-5.3 
-2.2 
-3.2 
10.5 
10.7 
0.9 
-0.4 
3.0 
0.1 
-5.9 
10.3 
4.2 
2.4 
9.0 
3.8 
-3.9 
48.6 
1998 
0.1 
0.7 
12.4 
3.5 
-5.1 
-2.4 
-2.4 
14.9 
15.4 
2.0 
2.5 
22.2 
0.5 
24.4 
7.8 
10.9 
10.6 
12.9 
-7.1 
19.6 
1) 1992 = 100 
Statistics in focus — Theme 5 — 4/2000 ■ 'm 
eurostat 
Over the past twenty years, for 
certain Member States, there has 
been a downward trend in 
agricultural rents. This was ob­
served for Belgium, Greece, France 
and Luxembourg. No such clear 
pattern was visible in other Member 
States, including Denmark, 
Germany, the Netherlands and the 
United Kingdom. (The data series 
Rents 
were shorter for the new Member 
States:­ Austria, Finland and 
Sweden.) 
Changes in agricultural rents in 
1998 relative to 1997 for several 
Member States have already been 
noted. Rent increases were 
observed about as frequently as 
decreases. Relative to 1990 when 
the real index was 100, the index 
was low in Greece (75) but high in 
Scotland (120) and Wales (130). All 
other Member States for which data 
were available showed a more 
moderate trend, and the 1998 rent 
index ranged from 96 in Belgium to 
110 in the Netherlands (arable land). 
Β 
Β 
DK 
D-11 
D-11 
EL 
F 
L 
NL 
NL 
A 
FIN 
S 
UK-En 
UK-Wa 
UK-Sc 
UK-NI 
Arable land 
Meadow 
Agricultural land 
All agricultural land 
New leases 
Arable land 
Arable land 
Agricultural land 
Arable land 
Meadow 
Agricultural land 
Agricultural land 
Agricultural land 
Agricultural land 
Agricultural land 
Agricultural land 
Agricultural land 
1977 
118 
121 
83 
86 
117 
125 
143 
74 
77 
84 
81 
79 
Real i 
1983 
103 
106 
103 1) 
101 
102 
123 
114 
120 
89 
88 
108 
105 
112 
129 2) 
ndex 1990=100 
1988 
104 
105 
101 3) 
96 3) 
113 
103 
114 
103 
103 
103 
114 
109 
116 
107 
1993 
95 
94 
96 
90 
91 
82 
98 
91 
94 
112 
100 4) 
94 
93 
89 
95 
92 
90 
1998 
101 
96 
106 
93 5) 
7 7 5, 
75 
101 
89 
110 
108 
97 
7 7 5) 
102 
101 
130 
120 
96 
Real annual rate of change 
1994 
-0.8 
0.8 
6.2 
-1.2 
0.1 
-3.0 
3.2 
-2.7 
0.3 
0.9 
-0.4 
4.4 
6.6 
6.6 
1995 
2.4 
0.7 
-1.0 
-3.5 
-2.9 
-0.2 
-0.2 
0.4 
1.0 
-5.8 
-1.5 
­10.2 
-1.6 
1.4 
4.8 
1.2 
4.5 
1996 
2.9 
2.0 
6.5 
-1.9 
-0.1 
-2.5 
4.2 
3.3 
0.9 
-2.6 
4.5 
9.2 
11.1 
0.3 
7.5 
1997 
0.8 
-0.5 
-0.1 
5.1 
-5.3 
-2.3 
0.9 
-0.3 
5.8 
5.7 
-1.3 
-7.3 
4.4 
3.5 
4.0 
1.2 
-5.8 
1998 
0.5 
­1.2 
­0.4 
­3.2 
2.4 
3.1 
2.0 
­2.9 
­1.5 
2.1 
­0.1 
7.9 
19.3 
­4.6 
1) 1982; 2) 1984; 3) 1987; 4) 1994; 5) 1997 
> ESSENTIAL INFORMATION - METHODOLOGICAL NOTES 
provide a single indicator fór the European 
Union. 
Deflation: The indices of agricultural land 
prices and rents are available in Eurostat's 
database in both nominal and deflated form. 
Using the deflated indices avoids the 
distortions caused by different inflation rates 
in the Member States. The nominal indices 
are deflated by means of the implicit deflator 
of gross domestic product for each Member 
State. This replaces the previous use of the 
consumer price index as a deflator. The 
implicit deflator of gross domestic product is 
more appropriate for the deflation of the 
prices of factors of production such as land 
or its use. The terms "deflated" and "real" 
are used synonymously in this report. 
Type of index: The land prices and rents by 
Member States are expressed as a 
percentage of the levels in 1990 (i.e. 1990 = 
100). These price relatives, or indices, allow 
trends to be compared among Member 
States. Because of differences in 
methodology, these indices cannot be 
aggregated across the Member States to 
Germany: Land price data are available for 
Germany in Its boundaries before October 
1990 (D­11, eleven Länder) and after this 
date (D­16, sixteen Länder). However data 
on agricultural rents are only available for 
Germany in its previous frontiers (D­11). The 
various series for the former Germany 
(D­11) allow comparisons over a relatively 
long period. 
\m 
eurostat 
• 4/2000 — Theme 5 — Statistics in focus 
Further information: 
> Reference publications > 
Title Agricultural land prices and rents in the EU ­ Data 1977­1998 
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Statistics in Focus: Agriculture and Fisheries. Agricultural Land Prices and Rents in the European Union, 1977-1998. 2000.4

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