Aestimum 75 (2019)

Land rent values determinants: a Hedonic Pricing approach at local scale

Chiara Mazzocchi
University of Milan, Italy
Anna Borghi
University of Milan, Italy
Federica Monaco
University of Milan, Italy
Anna Gaviglio
University of Milan, Italy
Rosalia Filippini
University of Milan, Italy
Eugenio Demartini
University of Milan, Italy
Guido Sali
University of Milan, Italy
Published February 24, 2020
  • farmland rent values,
  • hedonic model,
  • climate
How to Cite
Mazzocchi, C., Borghi, A., Monaco, F., Gaviglio, A., Filippini, R., Demartini, E., & Sali, G. (2020). Land rent values determinants: a Hedonic Pricing approach at local scale. Aestimum, (75), 235-255.


Farmland values are driven by a complex set of factors. Starting from the idea that land rent values may reflect several characteristics both internal and external to agricultural sector, the paper has implemented a hedonic model based on land rent values in the metropolitan area of Milan, Northern Italy, assessing the influence of climate, soil, territorial and farm variables on a sample of farms. The model is based on data at rent contract level, matched with data at farm and municipal scale retrieved from different sources. Results confirm that land rent prices are affected by some climate variables, along with territorial and farm characteristics.


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