Nog's prejudice against "dirt" as a suitable investment would seem to be quite a normal response from someone who has spent the majority of their formative years living in space. Note that none of his close relatives seem to have any major ambitions to own holdings of land. Quark's long-term goal is to buy a ship of his own (although he does dream of one day having his own moon, like his cousin) and his father's goal seems to be to outlive his brother and inherit Quark's bar.
Based on a combination of factors; his lack of adult role-models who want to own planetary land, his young age (what good is a plot of land to a 12 year old?) and a lack of experience of the value of land as a long-term investment, it's not hard to see why he'd much rather have the latinum which he can spend immediately.
Jake, by comparison has some experience of the worth of land, having spent much of his last few years studying the ecology of Bajor and fishing with his father on Earth. When he and Nog discuss what they could do with the land, Jake offers two options to Nog's zero:
JAKE: How many times do I have to tell you... It's not dirt; it's land.
NOG: And what're we supposed to do with this land?
Good question. Jake has to think about that one. Finally:
JAKE: Sell it, I guess.
JAKE: Land is better than bolts.
NOG: How do you know?
JAKE: You can build things on land.