LAND VALUATION FOR FINANCIAL ANALYSIS PURPOSES: A CASE STUDY IN ARGENTINA
The farm real estate market is different from commodity markets because land has unique characteristics such as durability and immobility. Moreover, the heterogeneity of land and relatively low activity of land transactions limits the availability of pricing information for specific properties. Because land is the primary asset and the least liquid of any farm company, its valuation plays an important role in financial analysis. The purpose of this paper is to compare different approaches to estimate the value of land.