El precio de la tierra: estado del arte de las metodologías de valoración de predios rurales y su aplicación en Colombia

Abstract

The consolidation of land markets in economies in developing economies is a necessary and viable growth alternative that requires, among other elements, the understanding of the me-chanisms of generation of rural land prices. In economics there are various methods for the approximation of the valuation of rural estates, whose special features make it impossible to assign a traditional market. This article surveys the main developments in valuation methodolo­gies for rural properties. We present the expected returns of traditional methods and alternative methods of inclusion of non-marketable characteristics, with special emphasis on hedonic pri­cing methodology that integrates alternative variables to assign a value to the land. The review of literature for Colombia shows a significant lack of works that deepen the understanding of the mechanisms of generation of rural land prices in the country, which constitutes a probable obstacle to rural development.

Keywords

• Rural land pricing
• hedonic pricing model