In recent years, the topic of land prices has received considerable attention in the literature [1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 16, 17, 18]. Part of the interest stems from the importance of land as a factor of production in agriculture. Land prices have a direct influence on the ability of young farmers to operate and expand their operations. Thus, the interest in land· prices by farmers, bankers and input suppliers is easily understood.