Which factors are known to affect land values?

Land values are significantly influenced by a combination of physical, economic, governmental, and social factors.

Physical factors include the land's location, size, shape, topography, and any natural features, which determine its suitability for various uses and can impact demand and price.

Economic factors encompass elements such as the local economy's strength, employment rates, and overall market conditions. These directly affect buyer willingness to invest in real property, thereby influencing land values.

Governmental factors include zoning laws, property taxes, land use regulations, and any government programs that can either enhance or restrict the development and utilization of land. These regulations can have a profound impact on land values by shaping what can be built and how land can be used.

Social factors consider demographic trends, community desirability, and cultural preferences that impact where people want to live and invest. Factors like changes in population density, economic diversity, and community amenities can also play a significant role in determining land value.

The other options include factors that are relevant but do not fully encompass the key elements that significantly affect land values. For instance, technological factors are important but are not as universally impactful as the social and economic factors included in the chosen answer. Understanding these core influences on land values is crucial for