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A joint Eurostat-OECD Task Force on Land and other Non-financial Assets was created in 2012 to address various issues such as the valuation of government-owned land, and the distinction between volumes and prices when recording changes in the value of land and prepare a compilation guide on Land Estimation.
The Task Force could not find clear guidance from the 2008 SNA on whether to record the change in the value of land as an other change in volume or as a revaluation, when the change in the value of the land was due to changes in the surrounding amenities of the land instead of due to a change in the economic use of the land.
Consequently, during the spring of 2014, the ISWGNA undertook a written consultation with the AEG on distinguishing the changes in the value of land between balance sheets into other changes in volume versus revaluations.
The AEG, at its 9th meeting, considered the outcome of the consultation on the recording and measurement of land and natural resources in order to ensure the consistent application of the 2008 SNA.
This guidance will be published in the forthcoming Compilation Guide on Land Estimation prepared by the OECD and Eurostat.
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