Two out of three transfers for agricultural purposes

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.

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.

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.