Answers are grounded in this paper and cite their sources.
Since 1981 information on land sales has been recorded in the Land Register for some counties in Scotland. Rural land sale data for areas of more than 10 hectares in Renfrewshire have been analysed to determine the extent to which land capability, elevation and slope have an influence on land value. Although many factors influence the price paid for rural land, the effect of land capability in particular is demonstrated, with altitude having a minor effect. Using a best fit curvilinear model price ranges are predicted on the basis of land capability classes.
No takes yet. Share an insight, caveat, or question.
Donald A. Davidson (1989) studied this question.
Synapse has enriched 10 related papers. Consider them for comparative context: