The Value of Farmland and Its Determinants—The Current State of the Art

Vasco Capela Tavares, Fernando Tavares () and Eulália Santos
Additional contact information
Vasco Capela Tavares: ISEG-UL—Lisbon School of Economics and Management, University of Lisbon, Rua do Quelhas, 6, 1200-781 Lisbon, Portugal
Fernando Tavares: ISCET—Higher Institute of Business and Tourism, Rua de Cedofeita, 285, 4050-180 Porto, Portugal
Eulália Santos: Higher School of Education and Social Sciences, CI&DEI, Polytechnic of Leiria, Campus 1, Rua Dr. João Soares, Apartado 4045, 2411-901 Leiria, Portugal

Land, 2022, vol. 11, issue 11, 1-14

Abstract: This article aims to perform a literature review on the topic of farmland valuation, covering the determinants of farmland value and the models that are used to price land. To do so, recent literature on the topic was combined with classical and well-known papers. All the factors considered in these papers to explain farmland prices and/or to model them were retrieved, presented, and compared. Then, the main models proposed in the literature are presented and their suitability and goals are explained. This study can help academics as it gives an overview of the current state of the art, summarizes the main factors proposed by researchers to explain farmland prices, and sheds light on new lines of research. Besides that, it is also relevant for policymakers because farmland valuation and its use have implications on society and on urban planning, which is a hot topic under discussion.

Keywords: farmland valuation; urban pressure; farmland price determinants; hedonic valuation models; econometric models (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/2073-445X/11/11/1908/pdf (application/pdf)
https://www.mdpi.com/2073-445X/11/11/1908/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jlands:v:11:y:2022:i:11:p:1908-:d:954679

Access Statistics for this article

Land is currently edited by Ms. Carol Ma

More articles in Land from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().