scholarly journals The “urban sprawl” effect on the out-of-town real estate market

2017 ◽  
Vol 2 (4) ◽  
Author(s):  
Athina Kiakou
Keyword(s):  
Real Estate ◽  
Urban Sprawl ◽  
Real Estate Market ◽  
Urban Morphology ◽  
Urban Land Use ◽  
City Centre ◽  
Land Market ◽  
Hedonic Regression ◽  
Land Value ◽  
Land Uses

This paper examines the “urban sprawl” effect on out-of-town real estate market. There are many factors leading to urban sprawl and modulating exurban real estate market. In order to identify these factors, a survey conducted in the Larisa city fringes. Demand, which is a formulation of a number of variables, was determined using two different methods: a) the interview survey which is a descriptive method of identifying the characteristics that affect the property market and b) statistical analysis which is a quantitative assessment of suburban property demand, based on the stochastic method of hedonic regression. According to the questionnaire survey, land value is dependent on adjacency to road infrastructure, distance of the property from the city centre urban land use concentration and physical features of the property which are view adjacent to the road, shape and size of lot. The outcome that land value is dependent on the existence of important economic activity in the property’s locality is consistent with the hedonic regression result, according to which there is a strong and statistically significant correlation between land sale price and distance from a major central use. Hence, the role of theses land uses is documented reflecting the impact of urban sprawl on land market. This correlation is negative, statistical significant and follows a different function for each axis of development. The function depends on type and cycle of development of each area which have a different distribution and type of land uses. That is to say, each function expresses the different way that emerging land uses and urban morphology affect the land market. This outcome is important because allows us to assess the effect of a future spatial planning project of activities in the tertiary sector, on out-of-town real estate market.

The Land Value Gradient in a (Nearly) Collapsed Urban Real Estate Market

2017 ◽  
Vol 93 (4) ◽  
pp. 549-566
Author(s):  
Timothy R. Hodge ◽  
Gary Sands ◽  
Mark Skidmore
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Land Value

scholarly journals Affordable Housing Provision in Informal Settlements through Land Value Capture and Inclusionary Housing

2020 ◽  
Vol 12 (15) ◽  
pp. 5975 ◽  
Author(s):  
Bernard Nzau ◽  
Claudia Trillo
Keyword(s):  
Developing Countries ◽  
Real Estate ◽  
Affordable Housing ◽  
Social Inclusion ◽  
Real Estate Market ◽  
Master Plan ◽  
Land Value ◽  
Value Capture ◽  
Inclusionary Housing ◽  
Housing Needs

Public-driven attempts to provide decent housing to slum residents in developing countries have either failed or achieved minimal output when compared to the growing slum population. This has been attributed mainly to shortage of public funds. However, some urban areas in these countries exhibit vibrant real estate markets that may hold the potential to bear the costs of regenerating slums. This paper sheds light on an innovative hypothesis to achieve slum regeneration by harnessing the real estate market. The study seeks to answer the question “How can urban public policy facilitate slum regeneration, increase affordable housing, and enhance social inclusion in cities of developing countries?” The study approaches slum regeneration from an integrated land economics and spatial planning perspective and demonstrates that slum regeneration can successfully be managed by applying land value capture (LVC) and inclusionary housing (IH) instruments. The research methodology adopted is based on a hypothetical master plan and related housing policy and strategy, aimed at addressing housing needs in Kibera, the largest slum in Nairobi, Kenya. This simulated master plan is complemented with economic and residual land value analyses that demonstrate that by availing land to private developers for inclusionary housing development, it is possible to meet slum residents’ housing needs by including at least 27.9% affordable housing in new developments, entirely borne by the private sector. Findings suggest that under a robust public-led governance umbrella, market forces can (1) significantly contribute to fill the financial gap in order to achieve the end of slums by 2050 in coherence with the United Nations Agenda 2030 targets and principles, and (2) increase both affordable and market housing in upgraded neighbourhoods, hence enhancing social inclusion in cities of developing countries.

Analysis of Housing for Rent in Borderlands

2020 ◽  
pp. 115-131
Author(s):  
Jacinto Garrido Velarde ◽  
Betina Cavaco de São Pedro ◽  
Consuelo Mora
Keyword(s):  
Urban Planning ◽  
Real Estate ◽  
Real Estate Market ◽  
Land Market ◽  
Opinion Survey ◽  
The Real Estate ◽  
Border City ◽  
The Real Estate Market ◽  
The Future

The current problems in the construction, sale, purchase, offer, or search of housing, present questions about the future of the real estate market, questions that will have to be possible solutions in the medium and long term. This document proposes obtaining primary information through “Opinion survey aimed at the population on housing and its influence on the land market,” through an applied methodology and variables associated with the survey. This chapter elaborates a methodological proposal to analyze the situation of the houses for rent in the border city of Badajoz to provide a document of support to the professionals and technicians who are dedicated to the territory and urban planning, to solve the problems about the construction, sale, purchase, offer, or search of housing.

scholarly journals Valuation methods for the housing market: Evidence from Budapest

2016 ◽  
Vol 66 (3) ◽  
pp. 527-546 ◽  
Author(s):  
Dávid Kutasi ◽  
Milán Csaba Badics
Keyword(s):  
Neural Network ◽  
Real Estate ◽  
Large Scale ◽  
Housing Prices ◽  
Market Price ◽  
Housing Price ◽  
Real Estate Market ◽  
Hedonic Regression ◽  
Valuation Methods ◽  
Valuation Method

Different valuation methods and determinants of housing prices in Budapest, Hungary are examined in this paper in order to describe price drivers by using an asking price dataset. The hedonic regression analysis and the valuation method of the artificial neural network are utilised and compared using both technical and spatial variables. In our analyses, we conclude that according to our sample from the Budapest real estate market, the Multi-Layer Preceptron (MLP) neural network is a better alternative for market price prediction than hedonic regression in all observed cases. To our knowledge, the estimation of housing price drivers based on a large-scale sample has never been explored before in Budapest or any other city in Hungary in detail; moreover, it is one of the first papers in this topic in the CEE region. The results of this paper lead to promising directions for the development of Hungarian real estate price statistics.

scholarly journals The Impact of the Real Estate Crisis on a South European Metropolis: From Urban Diffusion to Reurbanisation

2021 ◽  
Author(s):  
Massimiliano Crisci
Keyword(s):  
Real Estate ◽  
Urban Sprawl ◽  
Social Impact ◽  
Real Estate Market ◽  
The Real Estate ◽  
Urban Core ◽  
Original Dataset ◽  
Long Time ◽  
The Impact ◽  
The City

AbstractBeginning in the 1970s, the urban core of the Rome Metropolitan Area (RMA) experienced four decades of intense depopulation and urban diffusion, which caused a considerable social impact. On the basis of an original dataset on residential mobility within the city of Rome, this paper aims to show that the RMA is currently experiencing a new stage of reurbanisation resulting from the bursting of the housing bubble after the 2008 crisis. Unlike other European contexts, the RMA repopulation is lacking forms of “urban resurgence” and is taking place in one of the most difficult periods of the city’s recent history. Paradoxically, the trend of private real estate market succeeded to stop urban sprawl where for a long time public decision-maker had failed. This created an opportunity to finally govern the process and steadily halt the urban diffusion, implementing targeted residential densification measures aimed at stabilising the demographic recovery of the urban core and preventing a return to urban sprawl.

scholarly journals Titulación de la propiedad y mercado inmobiliario / Property Deeds and Real Estate Market

2010 ◽  
Vol 25 (3) ◽  
pp. 625 ◽  
Author(s):  
Julio Calderón Cockburn
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Land Market ◽  
Formal Property ◽  
Property Value ◽  
Real Estate Markets ◽  
The City ◽  
Property Markets ◽  
The Way

En este estudio se analiza la relación entre la tenencia de títulos de propiedad (registrados) y los mercados inmobiliarios en aquellas zonas de la ciudad cuyo origen fue informal o ilegal. Al hacerlo se plantean cuestionamientos a los presupuestos internacionales y se encuentran paradojas en el funcionamiento del mercado de suelo popular. La metodología es cuantitativa y cualitativa. Las conclusiones muestran que en los asentamientos no consolidados la tenencia de un título de propiedad contribuye a conferir un mayor valor a los predios en relación con los que no están titulados. No obstante, el título de propiedad no necesariamente induce al predominio de los mercados inmobiliarios formales; más bien se mantienen las tendencias que apuntan a las transacciones informales en cuanto a alquileres, compras y ventasAbstractThis study analyzes the link between the ownership of property deeds (registered) and real estate markets in parts of the city whose origin was either informal or illegal. By doing so, it raises questions about international assumptions and finds paradoxes in the way the popular land market operates. The methodology used is both quantitative and qualitative. The conclusions show that in unconsolidated settlements, ownership of title deeds increases property value. Title deeds do not however, increase the predominance of formal property markets. On the contrary, the tendency to engage in informal transactions regarding rent and buying and selling continues to exist.

Unifying Urban Land Use and Land Value Theories

2002 ◽  
Author(s):  
Grant Ian Thrall
Keyword(s):  
Land Use ◽  
Real Estate ◽  
General Theory ◽  
Urban Environment ◽  
Urban Form ◽  
Agricultural Land ◽  
Urban Land ◽  
Land Values ◽  
Land Value ◽  
Land Uses

The market analysis report that is submitted to the decision maker (see chapter 4) should include a descriptive, qualitative overview of the context the real estate project has to the existing and changing urban environment. To better accomplish this task, one should have knowledge of the general theory regarding the market processes that bring about land use and urban form. This chapter presents three relevant general theories of land use and land value. Together, these general theories provide a general qualitative understanding of how the existing urban environment came to be and allows the analyst to prognosticate the trajectory of change of urban land uses and land values. The first two of the general theories presented here arose out of an attempt to explain agricultural land values and land uses. Why should a discussion of the agronomy sector be included in a book on urban real estate analysis? First, all the general theories relevant to land values and land use, and their spatial distribution within a city, are part of an intellectual heritage that dates from general theories of agricultural land values and land use. Second, much of new urban development occurs at those suburban margins. To understand development at the suburban margins, there must be an understanding of the nonurban land uses and land values at those locations. The third general theory explains spatial equilibrium and its role in shaping urban land values and land uses. Two eighteenth-century theorists, David Ricardo and Johann Heinrich von Thünen, are credited for having created a vast and sometimes opposing literature on land valuation. Ricardo’s economic theory was based upon the relative productivity of sites. In contrast, von Thünen’s geographic theory was focused on the locational component of land values and land use. The juxtaposition of these two competing giants of land theory in many respects still differentiates economists and geographers even today. After the theories of Ricardo and von Thünen are presented, an overview of the consumption theory of land rent (CTLR) is provided. The CTLR is my general theory and methodology for evaluating urban housing land use, land values, and urban form (Thrall 1980, 1987, and see 1991).

scholarly journals Analysis of the real estate market in the city of Lublin (Poland) from the perspective of spatial development

2020 ◽  
Vol 171 ◽  
pp. 02007
Author(s):  
Patrycja Pochwatka
Keyword(s):  
Real Estate ◽  
Urban Sprawl ◽  
Spatial Development ◽  
Real Estate Market ◽  
Real Property ◽  
Luxury Goods ◽  
The Real Estate ◽  
Modern Times ◽  
The Real Estate Market ◽  
The City

Real estate, in modern times, is exclusive merchandise, because it is in limited supply and is relatively high-priced compared with goods such as food, clothing, luxury goods. Properly conducted spatial planning can bring measurable benefits to both citizens and investors. This study aims to explore the directions of spatial development in the city of Lublin through an analysis of undeveloped properties sold over a study period of twenty-one months. The main objective of the study was to assess the conditions of spatial development in the city. Data from the Register of Prices and Values for Real Estates were analyzed and visualized cartographically. The number of sales of real property located on the outskirts of the city was far larger than for property situated in the central part of the area studied. During the analyzed period, a total area of 0.8895 km2 of land was sold in Lublin, which represents about 0.6% of the entire city area. Vast areas were sold in the districts located on the outskirts. Unsurprisingly, the smallest percentage of land was sold in the central part of the city. The trends observed on the undeveloped real estate market are helpful in assessing the level of suburbanization or urban-sprawl. Besides, the usefulness of cartographic methods for real estate market studies was stressed.

scholarly journals Harnessing the Real Estate Market for Equitable Affordable Housing Provision through Land Value Capture: Insights from San Francisco City, California

2019 ◽  
Vol 11 (13) ◽  
pp. 3649 ◽  
Author(s):  
Nzau ◽  
Trillo
Keyword(s):  
Real Estate ◽  
San Francisco ◽  
Affordable Housing ◽  
Social Inclusion ◽  
Real Estate Market ◽  
Land Value ◽  
Value Capture ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market

Affordable housing remains a serious problem in many countries. Even as the housing affordability crisis deepens, most cities continue to exhibit robust real estate markets with high property prices. The low-income and poor households are unable to access affordable housing and remain excluded. This paper draws from empirical research conducted in the city of San Francisco and focuses on the application of Land Value Capture (LVC) through increased Inclusionary Housing (IH) requirements after plan changes that increased density potential in San Francisco’s Eastern Neighbourhoods to evaluate its effects on the goals of increasing both affordable housing and social inclusion. Findings reveal that the increased inclusionary requirements used as LVC mechanism enabled 76.2% of all the affordable housing units produced in the Eastern Neighbourhoods to be produced by market-rate developers in 2011–2015 as compared to the rest of San Francisco, where 35.5% of the affordable units were produced from the market through inclusionary policy during the same period. The study demonstrates that upzoning underutilised land coupled with a well-planned LVC mechanism can help harness the strength of the real estate market and increase both affordable housing production and social inclusion.

scholarly journals Introduction of land market: current issues and development prospects

2021 ◽  
pp. 2-2
Author(s):  
I. Novakovska ◽  
◽  
L. Skrypnyk ◽  
N. Ishchenko ◽  
◽  
...  
Keyword(s):  
Real Estate ◽  
Agricultural Land ◽  
Free Market ◽  
Electronic System ◽  
The United States ◽  
Real Estate Market ◽  
Public Works ◽  
Land Market ◽  
Agricultural Lands ◽  
Land Relations

The peculiarities of the free market of agricultural lands are described. The consequences of opening the land market in terms of economic, land and legal components in the system of land relations are presented. The list of conditions for the purchase and sale of agricultural land is highlighted. The specifics of the functioning of the free market of agricultural lands are substantiated. The characteristic of basic normative-legal acts in the sphere of functioning of the land market is given. A comparative analysis of the current state of purchase and sale of land by farms and agricultural holdings. A comparison of the indicators of the number of concluded agreements of purchase and sale of agricultural land, the average value of rent per 1 hectare of land, respectively, by region and price fluctuations per 1 hectare of land when concluding purchase and sale agreements. The foreign experience of land market function with the detailing of the factors influencing the further development is analyzed. In particular, the problems and needs in the functioning of the land market of Poland, Brazil, the United States and the United Kingdom are considered. The possibility of introducing an electronic system such as EMBRAESP, which monitors the main indicators of the efficiency of the urban real estate market, together with city legislation, land regulations and large public works projects that may affect the behavior of real estate markets. Key words: land relations, land market, land lease, land legislation.

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