Uganda, March 26 -- It is said that the reward received for land as a factor of production is rent. To my layman's mind, I think this is even truer in urban settings where land is nearly exclusively assigned to generating rental income in one way or another. By implication, and while there may be other considerations, prospective rental incomes are a key factor in determining prices for land and landed properties.

Again, this is specially so in urban areas. In rural settings, the prices for land often get influenced by other factors such as the land's agricultural productivity. I know places in the countryside where people may determine the prices for land by the land's capacity to produce bananas or grow good pastures to feed livestock....