I don't know if this will provide you with the complete answer, but with property assets, the value is relative to the next best alternative. So it's partly opportunity costs that capitalize.
In Saskatchewan we have varying pressures that compete for farmland, besides farmers. We have conservation programs, for example, and I'll speak specifically about Saskatchewan. But we have this nifty little thing with land ownership. Conservation organizations find Saskatchewan a very lucrative place to preserve land for wild fowl and whatever. And they have deep pockets.