From an item I found on the 'Herald Scotland' web site - dated Friday 11 May - by Rog Wood:
Herald web page here
The market for agricultural land in Scotland remains buoyant, with good arable fetching up to £10,000 per acre, but those with land that has development potential need a reality check over values.
That was the view of Andrew Wood, Group Partner in land agents Bidwells, when he addressed farming journalists in Perth.
According to Mr Wood, development land on Edinburgh's outskirts that may have been worth £1 million per acre before the property bubble burst, may only be worth half that today.
Elsewhere, farmers might only be able to get £150,000 per acre for land worth £500,000 at the peak of the market.
Mr Wood explained many residential land option agreements are being re-negotiated, or have been found to be difficult to operate in the current, depressed market conditions.
Apart from developers having increased costs due to delays in selling houses as a result of buyers finding it difficult to sell their own house or securing mortgages, local authorities are demanding bigger "planning gain".
That can range from the developer providing infrastructure like increased sewerage capacity, or contributions to providing school upgrades and even new schools, to building a proportion of affordable houses.
"The market has shifted from big development schemes to more modest ones," he added.