Agricultural and forestry land markets are regulated in several European countries. However, assessing the economic consequences of land market regulation for agricultural and forestry firms is methodologically challenging for various reasons. The aim of this study is to highlight the usefulness of exploring expert stakeholders’ mental models in order to gain insights into the economic impacts of agricultural and forestry land market regulation. We use thematic analysis based on in-depth interview data to explore Swedish expert stakeholders’ mental models about the regulation of the Swedish agricultural and forestry land market. Findings point to that the current regulation does not have any major impacts on the economic situation of agricultural and forestry firms in Sweden.