What determines land value?

[John Chan]

What determines land value?

Is it simply what one is willing to pay? If a Wal-mart wants to develop on a few raw acres of commercially zoned land, does it make that land a lot more valuable?

When a value of a property increases, is it the land that actually increases or is it the bricks of the house that increase in value?

Just curious

[Gregory Akerman]

Alot of things determine land value.

Location is among the top. Where the land is near, if there is construction in the surrounding area, big city or rural, etc.

It's always good to invest in land on the outskirts of big, growing cities, as the land value is lower than in the city but sooner than later the city will grow to encompass that land.