SPATIAL ANALYSIS OF AGRICULTURAL LAND PRICES AND ITS DETERMINANTS IN LITHUANIA
Keywords:land price, price convergence, arable land, meadows and pastures, municipalities
The aim of the article is to conduct an empirical analysis of territorial differences in agricultural land prices and the factors that determine them in Lithuania. Research methods used: analysis of scientific literature, spatial and regression analysis of data. The research is based on the data of the Lithuanian Statistics Department on the prices in euros per hectare by types of agricultural land (agricultural land in total, arable land, and permanent grassland) aggregated at the municipal level. 51 municipalities were included in the study, except for the municipalities of cities, Neringa and Visaginas, and the municipality of Birštonas was not included in the analysis of the permanent grassland prices. The data on 2011 and 2021 are used to determine an increase in land prices, and 2021 is used for regression analysis. The results of the empirical analysis showed large territorial differences in the prices of agricultural land in total, arable land, meadows and pastures in Lithuania, and the convergence of these prices during the recent decade. It was founded that the quality and remoteness of agricultural land in Lithuania have the greatest influence on the price of arable land. However, these factors have little effect on the prices of meadows and pastures.