Location Value

First factor of land value

• Determined by the concentration/density of people (or, more specifically, people activity) around a given location (think coordinate in 3D space, or 4D if preferred) along with adequacy of available/accessible amenities to support/sustain the population and various functions thereof

• Sometimes referred to as the "unimproved value of land" but common experience has determined this to be a misleading label

• This is the part of land value which is less about what is at this location and more about what is around this location or the externalities of everything nearby (both positive and negative in aggregate) which impacts this location