Two out of three transfers for agricultural purposes

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In 2016, a total of 8 960 agricultural properties were transferred to new owners, of which 5 600 were transferred for agricultural purposes. One third of the properties were sold on the free market. The average purchase price for properties sold on the free market in the period 2010-2016 increased from NOK 1 463 000 to NOK 2 231 000.

In 2016, approximately 4 per cent of the 184 400 agricultural properties in Norway were transferred to new owners. Of these, 1 500 had more than one transfer registered. One in three properties were transferred as licensed decedent estates or inheritance of decedent estates, almost one in three properties were sold on the free market and 2 100 properties were transferred as donations. Most of the donations were transfers within the family. The seller and buyer were related to each other in 5 400 of the transfers.

Figure 1. Registered transfers of agricultural properties¹, by purpose of use
Figure 1. Registered transfers of agricultural properties¹, by purpose of use
Other Holiday Dwelling Agriculture
2000 606 641 1346 7435
2001 715 647 1555 7139
2002 608 680 1548 6755
2003 611 665 1497 6621
2004 659 805 1734 7216
2005 798 825 1733 6484
2006 843 822 1653 5500
2007 279 663 1543 6261
2008 505 752 1723 5476
2009 488 762 1567 5626
2010 453 699 1581 5775
2012 475 859 2036 5628
2013 813 808 1723 5683
2014 594 968 2077 5676
2015 545 908 1887 5644
2016 525 926 1903 5604

Transfers by purpose of use

In 2016, a total of 5 600 agricultural properties were transferred for agricultural purposes. For properties transferred as a donation, 80 per cent were transferred for agricultural purposes, while the corresponding figure for properties sold on the free market was 60 per cent. Thirty per cent of the transfers in 2016 were purchased for dwelling or holiday purposes.

Figure 2. Average purchase price per transfer of agricultural properties¹ with building sold on the free market and with agriculture as purpose of use. 2016
Figure 2. Average purchase price per transfer of agricultural properties¹ with building sold on the free market and with agriculture as purpose of use. 2016
sum
Nordland 1136000
Troms Romsa 1160000
Finnmark Finnmárku 1299000
Sogn og Fjordane 1426000
Møre og Romsdal 1798000
Nord-Trøndelag 1960000
Sør-Trøndelag 2185000
Telemark 2228000
Hedmark 2237000
Hordaland 2337000
Oppland 2426000
Vest-Agder 2484000
Buskerud 2833000
Rogaland 3299000
Aust-Agder 3403000
Vestfold 4451000
Østfold 4924000
Akershus/Oslo 5270000

Higher prices per transfer

The average purchase price for all properties sold on the free market in the period 2010-2016 increased from NOK 1 463 000 to NOK 2 231 000; an increase of 52 per cent from 2010. The average purchase price per transfer for properties with buildings sold on the free market and agriculture as purpose of use was NOK 2 464 000. This is an increase of 3 per cent from the year before.

Age of new owners lowest in donation transfers

The average age of new owners of agricultural properties was 52 years in 2016. For transfers registered as a donation, which is normal for a family transfer, the average age of the new owner was 42 years. For properties transferred as licensed decedent estates or inheritance of decedent estates, the new owners were on average 65 years old.

Figure 3. Average purchase price per transfer of agricultural properties¹ with building sold on the free market, by purpose of use
Figure 3. Average purchase price per transfer of agricultural properties¹ with building sold on the free market, by purpose of use
Agriculture Dwelling Holiday
2000 707000 715000 239000
2001 782000 785000 474000
2002 848000 902000 536000
2003 988000 864000 423000
2004 1079000 1003000 504000
2005 1236000 1132000 509000
2006 1277000 1208000 562000
2007 1431000 1393000 840000
2008 1529000 1542000 694000
2009 1528000 1565000 766000
2010 1706000 1610000 793000
2012 1944000 1837000 896000
2013 2073000 2056000 993000
2014 2186000 2090000 929000
2015 2403000 2167000 1168000
2016 2464000 2295000 1141000

Figure 4. Registered transfers of agricultural properties¹ , by purpose of use. 2016
Figure 4. Registered transfers of agricultural properties¹ , by purpose of use. 2016
Other Holiday Dwelling Agriculture
Finnmark Finnmárku 11 20 40 29
Troms Romsa 10 16 26 48
Nordland 9 23 26 43
Nord-Trøndelag 2 8 18 71
Sør-Trøndelag 4 9 16 71
Møre og Romsdal 5 8 21 66
Sogn og Fjordane 3 9 16 72
Hordaland 5 9 18 67
Rogaland 6 7 16 71
Vest-Agder 5 14 15 67
Aust-Agder 8 6 31 55
Telemark 5 10 23 62
Vestfold 6 4 13 77
Buskerud 8 6 15 72
Oppland 3 6 20 71
Hedmark 5 5 26 63
Akershus/Oslo 7 3 22 68
Østfold 2 3 21 74

Additional information

The composition of sold agricultural properties varies over time as regards size, standard and location. Due to this, the change in average purchase price per transfer from one year to another does not reflect the correct price trend.

 

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