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Urban influences on periurban farmland prices

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  • Jean CavailhËs
  • Pierre Wavresky
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    Abstract

    In periurban belts, landowners expect agricultural parcels to be converted to urban use and so farmland prices fall with distance from cities, owing to premiums reflecting potential capital gains from such future development. This is shown, first, by analysing residential and agricultural land prices via a theoretical microeconomic residential location model and, second, by an econometric model based on individual transactions with random spatial effects. Results show that farmland prices fall sharply close to the city and then gently further away; premiums for development are decomposed and allocated to several factors and the expected time of urban conversion are evaluated. Copyright 2003, Oxford University Press.

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    Bibliographic Info

    Article provided by Foundation for the European Review of Agricultural Economics in its journal European Review of Agricultural Economics.

    Volume (Year): 30 (2003)
    Issue (Month): 3 (September)
    Pages: 333-357

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    Handle: RePEc:oup:erevae:v:30:y:2003:i:3:p:333-357

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    Cited by:
    1. Cotteleer, Geerte & Stobbe, Tracy & van Kooten, G. Cornelis, 2008. "A Spatial Bayesian Hedonic Pricing Model of Farmland Values," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44137, European Association of Agricultural Economists.
    2. Geerte Cotteleer & Tracy Stobbe & G. Cornelis van Kooten, 2007. "Bayesian Model Averaging in the Context of Spatial Hedonic Pricing: An Application to Farmland Values," Working Papers 2007-07, University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group.
    3. Bell, Kathleen P. & Dalton, Timothy J., 2006. "Spatial Economic Analysis in Data-Rich Environments," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25241, International Association of Agricultural Economists.
    4. Bojnec, Štefan, 2011. "Land Markets in the EU Candidate Countries of Croatia, Former Yugoslav Republic of Macedonia and Turkey," Factor Markets Working Papers 96, Centre for European Policy Studies.
    5. Thomas Coisnon & Walid Oueslati & Julien Salanié, 2014. "Spatial targeting of agri-environmental policy and urban development," Working Papers 1401, Groupe d'Analyse et de Théorie Economique (GATE), Centre national de la recherche scientifique (CNRS), Université Lyon 2, Ecole Normale Supérieure.
    6. Jeanne DACHARY-BERNARD (UR ADBX, CEMAGREF) & Sandrine LYSER (UR ADBX, CEMAGREF) & Frédéric GASCHET (GREThA, CNRS, UMR 5113) & Guillaume POUYANNE (GREThA, CNRS, UMR 5113) & Stéphane VIROL (GREThA, C, 2011. "Real Estate and Land Values on the shoreline: a transaction-level analysis (In French)," Cahiers du GREThA 2011-07, Groupe de Recherche en Economie Théorique et Appliquée.
    7. Coisnon, Thomas & Oueslati, Walid & Salanié, Julien, 2014. "Urban sprawl occurrence under spatially varying agricultural amenities," Regional Science and Urban Economics, Elsevier, vol. 44(C), pages 38-49.
    8. Angelovska, Neda Petroska & Ackovska, Marija & Bojnec, Štefan, 2012. "Agricultural Land Markets and Land Leasing in the Former Yugoslav Republic of Macedonia," Factor Markets Working Papers 113, Centre for European Policy Studies.
    9. Jean CavailhËs & Mohamed Hilal & Pierre Wavresky, 2011. "Option values on periurban land markets," ERSA conference papers ersa10p1629, European Regional Science Association.
    10. Elodie Letort Author-X-Name- First: Elodie Author-X-Name- Last: Letort & Chalachew Temesgen, 2013. "Influence of environmental policies on farmland prices in the Bretagne region of France," Working Papers SMART - LERECO 201306, INRA UMR SMART.
    11. Stefano Pascucci, 2008. "Periurban agriculture and rural development strategies: a comment," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 2, May.
    12. Duvivier, Romain & Gaspart, Frederic & Frahan, Bruno Henry de, 2005. "A Panel Data Analysis of the Determinants of Farmland Price: An Application to the Effects of the 1992 Cap Reform in Belgium," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24577, European Association of Agricultural Economists.
    13. Jean CavailhËs & Isabelle Thomas, 2011. "The influence of urban sprawl on farmland prices in Belgium (refereed paper)," ERSA conference papers ersa10p1628, European Regional Science Association.

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