**<u>Appendix table 6: Lease price regressions for agricultural land for commercial use</u>**

||<br>**All tran**|<br>**sactions**|<br>**With contr**|<br>**act duration**|<br>**With**<br>**charac**|**tenant**<br>**teristics**|**Tenant**<br>**contrac**|**details &**<br>**t duration**|
|---|---|---|---|---|---|---|---|---|
|Area (ha)|0.080***|0.066***|0.084***|0.072***|0.092***|0.081***|<br>0.098***|<br>0.088***|
||(0003)|(0003)|(0003)|(0003)|(0003)|(0003)|(0003)|(0004)|
|Area^2|.<br>0.001|.<br>-0.002|.<br>0.004|.<br>0.001|.<br>0.002|.<br>0.001|.<br>0.005*|.<br>0.004|
||(0.003)|(0.003)|(0.003)|(0.003)|(0.003)|(0.003)|(0.003)|(0.003)|
|Moratorium lifted|0.102***<br>|0.101***<br>|0.078***<br>|0.079***<br>|0.095***<br>|0.094***<br>|0.070***<br>|0.070***<br>|
||(0.008)|(0.008)|(0.009)|(0.009)|(0.008)|(0.008)|(0.009)|(0.009)|
|Legal entity (renter)|<br>0.366***|<br>0.270***|<br>0.381***|<br>0.281***|||||
||(0017)|(0018)|(0019)|(0019)|||||
|Legal entity * 2024|.<br>0.045|.<br>0.069*|.<br>0.056|.<br>0.081**|||||
||(0.037)|(0.037)|(0.037)|(0.037)|||||
|# transactions|<br>0.052***|<br>0.046***|<br>0.046***|<br>0.040***|0.048***|0.046***|0.045***|0.042***|
|in village|(0.003)|(0.003)|(0.003)|(0.003)|(0.003)|(0.003)|(0.003)|(0.003)|
|Field area (ha)||0.064***<br>||0.069***<br>||0.041***<br>||0.046***<br>|
|||(0.007)||(0.007)||(0.008)||(0.008)|
|Field area^2||<br>-0.004***||<br>-0.004***||<br>-0.003**||<br>-0.003***|
|||(0.001)||(0.001)||(0.001)||(0.001)|
|Unmapped area||<br>-0.335***||<br>-0.307***||<br>-0.274***||<br>-0.242***|
|<br>share in field||(0.042)||(0.043)||(0.045)||(0.047)|
|<1% of field area||-0.011||-0.014||-0.011||-0.014|
|unregistered||(0.008)||(0.008)||(0.008)||(0.009)|
|<br>1-10% of field area||<br>-0.034***||<br>-0.034***||<br>-0.024***||<br>-0.024***|
|unregistered||(0.007)||(0.007)||(0.007)||(0.008)|
|<br>> 10% of field area||<br>-0.027***||<br>-0.023**||<br>-0.028***||<br>-0.024**|
|unregistered||(0.009)||(0.010)||(0.010)||(0.010)|
|<1% of field area||0.015||0.025**||0.014||0.020*|
|reg. by owner only||(0.010)||(0.011)||(0.011)||(0.011)|
|<br>1-10% of field area||<br>0.011*||<br>0.011*||<br>0.021***||<br>0.023***|
|reg. by owner only||(0.006)||(0.007)||(0.007)||(0.007)|
|<br>>10% of field area||<br>0.032**||<br>0.015||<br>0.062***||<br>0.041***|
|reg. by owner only||(0.014)||(0.015)||(0.015)||(0.016)|
|<br>Largest user’s cult.<br>||<br>0.128***<br>||<br>0.117***<br>||<br>0.133***<br>||<br>0.120***<br>|
|share of field area||(0.018)||(0.018)||(0.019)||(0.020)|
|Buyer is the largest||<br>0.079***||<br>0.084***||<br>-0.007||<br>-0.004|
|user in field<br>||(0.007)<br>||(0.008)<br>||(0.008)<br>||(0.009)<br>|
|>5 registered users||-0.021**||-0.026***||-0.026***||-0.029***|
|<br>in field||(0.009)||(0.010)||(0.010)||(0.010)|
|Lease term 14-20|||0.010|0.006|||0.003|0.004|
|years|||(0.007)|(0.007)|||(0.008)|(0.008)|
|Lease term > 20|||-0.220***|-0.225***|||-0.229***|-0.228***|
|Years|||(0.009)|(0.009)|||(0.009)|(0.009)|
|Tenant's cult.|||||-0.021**|-0.020**|<br>-0.007|<br>-0.006|
|area (ha)<br>'|||||(0.010)<br>|(0.010)<br>|(0.010)<br>|(0.010)<br>|
|Tenants cult. area^2|||||0.013***|0.012***|0.010***|0.010***|
||||||(0.001)|(0.001)|(0.001)|(0.001)|
|Tenant uses <33%|||||0.023|0.019|0.011|0.006|
|<br>of village land|||||<br>(0.019)|<br>(0.019)|<br>(0.019)|<br>(0.019)|
|<br>Tenant uses 33-50%|||||<br>-0.035*|<br>-0.043**|<br>-0.015|<br>-0.024|
|of village land|||||(0.020)|(0.020)|(0.021)|(0.021)|
|<br>Tenant uses >50%|||||<br>-0.022|<br>-0.042**|<br>-0.005|<br>-0.025|
|of village land<br>Dist. to tertiary|-0.003|-0.006**|-0.002|-0.005*|(0.020)<br>-0.003|(0.020)<br>-0.005*|(0.021)<br>-0.002|(0.021)<br>-0.003|
|<br>road (km)|(0.003)|(0.003)|(0.003)|(0.003)|(0.003)|(0.003)|(0.003)|(0.003)|
|Dist. to secondary|-0.021***|-0.024***|-0.019***|-0.022***|-0.024***|-0.026***|-0.020***|-0.022***|
|<br>road (km)|<br>(0.003)|<br>(0.003)|<br>(0.003)|<br>(0.003)|<br>(0.003)|<br>(0.003)|<br>(0.004)|<br>(0.004)|
|<br>Dist to primar|<br>-0063***|<br>-0059***|<br>-0060***|<br>-0056***|<br>-0052***|<br>-0050***|<br>-0047***|<br>-0046***|
|. y<br>road (km)|.<br>(0.003)|.<br>(0.003)|.<br>(0.004)|.<br>(0.004)|.<br>(0.004)|.<br>(0.004)|.<br>(0.004)|.<br>(0.004)|
|<br>Dist. to motorway (km)|<br>-0.016***|<br>-0.017***|<br>-0.018***|<br>-0.020***|<br>-0.016***|<br>-0.017***|<br>-0.017***|<br>-0.018***|
||(0005)|(0005)|(0005)|(0005)|(0005)|(0005)|(0005)|(0005)|
|Dist. to railway (km)|.<br>-0.014***|.<br>-0.016***|.<br>-0.020***|.<br>-0.021***|.<br>-0.027***|.<br>-0.027***|.<br>-0.031***|.<br>-0.031***|

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