How the inflation rate affect the value of a land after ten years?

Question

If the value of a land is $2m now, what would be the resale value of this land after ten years with inflation rate of 3% for instance?

Answer 1

land values are not tied to inflation. the value goes up or down based on what other land in the area is doing. raw land has less value than developed. land on or near a freeway may or may not be more valuable than land in, or along a waterway or lake. land which has utilities nearby is more valuable than land away from utilities. land near mountains may be more valuable than land near a very dry area such as nevada oor arizona compared to utah or montana. the current and future price of land is always based on marketability, and purpose to which it will be put as well as what the population is doing in the area. declining prices are result of loosing population, rising prices are the result of rising population in the area the land is being sold. there are many other factors, but remember what you pay will be based on what you are willing to pay.