Skip to main content

Determinants of the Prices of Bare Forestland and Premerchantable Timber Stands: A Spatial Hedonic Study

The full text article is temporarily unavailable.

We apologise for the inconvenience. Please try again later.

In this study, we examine the determinants of market prices of bare forestland and premerchantable timber stands in Southwest Alabama and Southeast Mississippi. Applying a spatial hedonic pricing model to forestland sale data from 2001 to 2007, we find that road access, topography, land productivity, and population density are the main determinants of bare forestland prices, whereas land productivity, potential for higher and better uses, and age of plantation are determinants of premerchantable timber stand prices. In particular, the value of a premerchantable stand increases along with the age of plantation by $56 per acre per year and compared with a tract with only one use in timber production, an identified higher and better use makes its value increase by $736 per acre or 45%.
No References
No Citations
No Supplementary Data
No Article Media
No Metrics

Keywords: bare forestland; hedonic pricing model; land valuation; premerchantable timber stand; spatial error model

Document Type: Research Article

Publication date: 21 August 2013

  • Access Key
  • Free content
  • Partial Free content
  • New content
  • Open access content
  • Partial Open access content
  • Subscribed content
  • Partial Subscribed content
  • Free trial content
Cookie Policy
X
Cookie Policy
Ingenta Connect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more