An Empirical Analysis of the Determinants of the Value of Vacant Land

Hans Isakson

Journal of Real Estate Research, 1997, vol. 13, issue 2, 103-114

Abstract: This study extends the literature that investigates the use of buyer and seller characteristics in traditional hedonic price equation regressions. This study adds to the existing literature on the relationship between parcel size and price, coined plattage by Colwell and Sirmans (1980). The results reveal statistically significant buyer and seller effects. Also, the results confirm the existence of the plattage effect and reveal a statistically significant change in the plattage effect over time. The findings of this study should prove useful to those interested in the behavior of land markets on an urban fringe.

Date: 1997
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DOI: 10.1080/10835547.1997.12090872

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