Spatial Analysis of Factors Affecting Finnish Farmland Prices
The purpose of the study was to find out the factors affecting farmland prices in Finland. A hedonic pricing model that takes into account the presence of spatial dependence was applied for a very large sales price data (6 281 observations). The results confirmed the importance of land quality and the structural change as determinants of land price. In addition, off-farm job possibilities seemed to have a significant role in determining land prices.