Determination and prediction of agricultural land prices using hedonic prices model: an application

This article aims specific markets agricultural land prices determination and forecast using hedonic prices methodology. The absence of official or trustworthy information on land prices makes this very important in Brazil. This multiple regression model has as dependent variable the price per hectare and the next explanatory variables: physical attributes (soil, relief), production (systems of production, localization, access), and infrastructure of the property and expectations (regional situation, local investments). The application to a Homogeneous Zone of Maranhão, Brazil generated a parsimonious model, where five independent variables explained 70% of the variance of the price of agricultural land.