What is the price of arable land and how to proceed when selling and buying it in Slovakia?

Mgr. Jana Tomčíkova, Ing. Ľubomíra Lacková 21.02.2024 160x

Do you want to sell or buy arable land? How to proceed and how to find out its price?
 
The issue of selling arable land is very extensive, we would like to explain it to you at least in the basics.
 
According to Act no. 220/2004 On the protection and use of agricultural land, means productive potential land registered in the real estate cadastre as arable land, hop fields, vineyards, orchards, gardens and permanent grasslands.
 
Acquisition of ownership of agricultural land is governed by Act No. 140/2014 on the acquisition of ownership of agricultural land. This law defines agricultural land as agricultural land or land developed by construction for agricultural purposes before June 24, 1991.
 
For more than three years, owners have been able to sell their land more freely. As of 2019, the restrictive provisions of this law on the acquisition of ownership of agricultural land ceased to apply. The transfer of agricultural land is essentially unrestricted again from 2019.
Agricultural as well as other types of land can therefore be acquired by means of a standard contract of sale, the content of which is governed by the Civil Code.
 
Many of you contact us with the question, at what price should I sell arable land?
 
If you are looking for land suitable for cultivation or other activity, first of all you should familiarize yourself with the territorial planning information - UPI, as it is authoritative for you (you can apply for the issue of UPI at the relevant municipal or city office). UPI defines the possible use of the land, in terms of the spatial plan of the city/municipality, and can also alert you to restrictions regarding the land (e.g. protected areas, protective zones, etc.)
 
The legislation does not establish any uniform price regulation that would determine the price of agricultural land. However, there are several legal regulations that determine the price of land depending on the purpose for which the price is determined (transfer of ownership of agricultural land, for tax purposes, determination of the amount of rent, price for an expert opinion when applying for a loan...).
The official price can be influenced by using the coefficients listed in Decree no. 492/2004 Coll. on determining the general value of property and as amended by later regulations, e.g. for connoisseurs.
 
In Annex No. 1 to Act No. 582/2004 Coll. as amended by Act no. 465/2008 Z. z..
the values of arable land and TPP according to cadastral territories are listed:
 
Many factors affect the market prices of agricultural land when sold.
 
The following factors reduce the value of land:
 
-permanent grasslands (up to 30% lower value)
-land not used for agricultural purposes
-very small or poorly accessible plots of land
-degraded land (erosion, pollution, etc.)
-minority co-ownership share
-land with a disadvantageous lease agreement.
 
 
The following factors increase the value of land:
 
-proximity to larger cities
-above-average quality plots of land with a higher bonita (southern Slovakia)
-complete plots of land in one location
-the shape of the plot as well as its width/length
-good access/access road to the property
-plots of land in a location with great interest from buyers
-potential building plots - reserve in the spatial plan
 
So if you have arable land that you would like to sell, do an analysis based on these factors that will help you determine the price per m2.
We deal with the sale of land mainly in the districts of Bratislava, Pezinok, Senec, Trnava, where we sold agricultural land for cultivation from 1.-Eur/m2 to approx. 3.50 EUR/m2. However, the price can of course also be higher when it comes to the territories specified in the spatial plan, e.g. as a future reserve for the construction of houses/apartments.
 
If you would like to determine the value of your land, you can contact us with confidence, we will be happy to help you.
 
In conclusion, we would like to emphasize that agricultural land is a unique commodity, it is our irreplaceable resource and a part of the land fund that we have an obligation to protect (Act No. 220/2004), take care of it and handle it adequately.
 
Real estate topics from practice as well as questions related to real estate will also be addressed in our new FB group: Reality-poradňa, on Facebook.
 
Mgr. Jana Tomčíková, Ing. Ľubomíra Lacková, kluc@kluc.sk
 
The Slovak Land Fund has published lists of unidentified land owners. According to the cadastral territory, you can find out on the SPF website whether you have forgotten to mention any land in the inheritance proceedings of your ancestors. If so, you can ask the court to inspect the newly discovered property.
More information and listings can be found on the SPF page: https://pozfond.sk/verejny.../zoznam-nezistenych-vlastnikov/