Effects of soil quality on farmland prices in Manitoba
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Date
2018
Authors
Dan, Yanlin
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Abstract
This paper illustrates farmland values in the ten Rural Municipalities (RMs) of southern Manitoba. Farmland price is measured using a Hedonic pricing model based on farmland’s inherent characteristics (e.g. soil quality, farmland location and land size) and market variables (e.g. interest rate, agriculture incomes and price index). This paper aims to quantify the effect of soil fertility on land value. Based on transaction-level data and Manitoba soil reports, the results agree with the hypothesis in previous literature. The significance of soil quality in farmland price determination has been highlighted in this paper as well.
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Keywords
Farmland price, soil quality, Manitoba