土地政策和城市住房发展

本文首先分析了北京的住房市场 ,然后对住房价格的构成及其变化进行了分析 ,结合微观经济学理论 ,总结出北京市房价高的原因 ,即 ,(1)房地产开发过程中没有不变成本 ,因而没有规模经济 ;(2 )根据基准地价系统 ,容积率决定地价 ,这一方面与西方城市经济学理论相悖 ,另一方面使房地产商没有经济利益驱动 ,资源没有得到合理强度地利用。最后 ,本文提出了进一步改革的建议和对策。     

The price responsiveness of housing supply in OECD countries

The responsiveness of housing supply to changes in prices bears important implications for the evolution of housing prices and the speed of adjustment of housing markets. Based on a stock-flow model of the housing market estimated within an error correction framework, this paper estimates the long-run price elasticity of new housing supply in 21 OECD countries. Estimates suggest that the responsiveness of housing supply to price changes varies substantially across countries. It is relatively more flexible in North America and some Nordic countries, while it is more rigid in continental European countries and in the United Kingdom. The responsiveness of housing supply depends not only on national geographical and urban characteristics but also on policies, such as land use and planning regulations.     

URBANISATION AND INFORMALITY IN AFRICA'S HOUSING MARKETS

Urbanisation is a growing phenomenon in Africa. Across the continent cities are drawing more and more people in search of economic opportunity. The majority of these people end up living in informal settlements: slums. As Africa's slums expand, international organisations, NGOs, and governments themselves call for strong public-sector action to deal with the problems in these settlements and to limit their expansion. However, government intervention in African housing markets may have contributed significantly to the growth of informal settlements. A maze of regulations and administrative barriers has imposed high transaction costs on formal-sector housing entrepreneurs. By raising the costs of providing low-income housing, African governments bear much responsibility for driving formal-sector entrepreneurs out of the housing market and for driving their citizens into slums.     

Conflict and Commensuration: Contested Market Making in India's Private Real Estate Development Sector

Newly constructed high‐rise housing and malls, soaring land prices and violent confrontations over land testify to the massive urban transformations underway in India today. Having secured an expanded role in urban development from the state, the private sector helps to shape urban restructuring; however, few scholars have studied private real estate development in India or revealed the factions that underlie an analytically unitary ‘private sector’. This article sheds light on private sector real estate industry members' efforts to develop an internationally familiar real estate market in India. Foreign investors and consultants have been collaborating with Indian real estate developers, who are now active intermediaries in the flow of capital into India. Drawing on participant observation and data from interviews, this article finds, however, that foreign financiers and Indian developers struggle to form partnerships on account of differences on issues like land valuation. The outcome of such conflicts will define the contours of Indian real estate development and its integration with international markets in the future.     

The regulatory tax and house price appreciation in Florida

Much attention was given to the soaring price of housing that took place in different parts of the country in the 1990s and the first half of the current decade. Traditional explanations for the increase include rising land values and costs of construction, but a strand of literature, popularized by Glaeser et al. [Glaeser, Edward L., Gyourko, Joseph, Saks, Raven, 2005a. Why have housing prices gone up? National Bureau of Economic Research Working Paper #11129; Glaeser, Edward L., Gyourko, Joseph, Saks, Raven, 2005b. Why is manhattan so expensive? Regulation and the rise in housing prices. The Journal of Law and Economics 48(2)], has looked at the role of land use regulations and posits that complying with them imposes a regulatory tax on housing consumers. In this paper, we apply and extend Glaeser and Gyourko’s methodology in order to estimate the regulatory tax on an individual house level in a set of Florida metropolitan areas. Our novel data address some of the quality measurement concerns raised about the Glaeser and Gyourko methodology and allow us to look at the evolution of the regulatory tax over a 10-year period. We find that the tax is an important component of sales price and that as a percentage of sales price has increased in a majority of Florida’s MSAs. In addition, we decompose the overall house price increase into land, materials and regulatory components and find that increasing stringency in the regulatory environment within Florida represents a substantial portion of the run-up in house prices in most metropolitan areas.     

On the land assembly problem

We consider a segment of the land market where the entire available land stock is needed for the realization of some indivisible development project. The stock is shared by several landholders who either collude or negotiate independently with the developer over the prices of their lots. Investigating the price setting behavior of the landowners and the optimal strategy of the developer, we show that landowners set more moderate prices under collusion than when acting independently; in the latter case, the individual asking price falls with the size of the land share, and the total price increases with the number of landowners. As regards the optimal strategy, we find that the developer will in general not offer the lowest price he expects to be accepted by the landowners.     

城市空间结构理论——单中心城市静态模型

首先介绍了在西方城市经济理论中被广泛接受的单中心城市空间结构静态模型。然后,利用比较静态分析方法(comparativestaticanalysis),分析区位、居民收入及交通费用(区位,居民收入及交通费用为模型的外生变量(exogenousvariable))对价格和房屋消费量(价格和房屋消费量为模型的内生变量(endogenousvariable))的影响。最后,理论模型通过引进一般住房生产函数,推导出土地价格及资本密度(即建筑高度)的空间变化规律。通过对城市经济模型进一步分析(对极值条件或解的微分解析分析)得出地价(地租),资本密度(或称容积率),人口密度的空间分布规律,这些规律对城市规划,城市政策,引进市场原则和价格机制来提高城市土地利用效率都有理论指导意义。     

The spillover effects of infill developments on local housing prices

This paper examines the spillover effects of infill developments, which involve developing vacant or under-used parcels within existing urban areas that are largely developed, on local housing prices. Employing a difference-in-difference specification on a sample of 275 new developments and 55,887 sale transactions of houses in Singapore, we find that infill developments have a positive and persistent impact on local housing prices. The contagion effect is larger for infill developments that are built on teardown sites. The spillover effect can also be traced to the overpricing of new homes by developers. Overall, the evidence indicates that developers act as price leaders and contribute significantly to price discovery in the local housing market.     

The Neoliberalization of Municipal Land Policy in Sweden

In Sweden, local governments’ practice of the ‘municipal land instrument’—that is, the use of public land ownership as a tool for facilitating urban development—has a long tradition. In the post‐war era, public land ownership constituted an important component of state‐led housing production, which had both a productive and a redistributive purpose. Departing from a political economy perspective, this article demonstrates how the redistributive aspect of the municipal land instrument has been dissolved under neoliberalization, and discusses why the use of this instrument is problematic from both a democratic and ethical point of view. Based on a case study in Helsingborg, the article argues that, in using public land to leverage private investment in urban development, local decision makers adopt an interest in supporting rent extraction from tenants and housing owners, while subsidizing investment costs for developers. The dual role that municipalities assume as landowner‐developers and planning authorities enable them to facilitate urban development effectively, but it is also problematic because it transgresses the public–private law divide inherent to Swedish law. Assuming this dual role, municipalities place themselves in a biased position that risks undermining the legitimacy of governmental actions in general, and the planning system in particular.     

The New Economic Sociology of Prices: An Analysis Inspired by the Austrian School of Economics

The new economic sociology includes some reference studies on the sociology of prices. They have not until now been studied by economists, and this article attempts to fill that gap by offering a detailed analysis, inspired by the Austrian School of Economics, of their object and approach. We first show that, from a theoretical point of view, the explanations advanced by these sociologists are based implicitly on basic models of economics, such as the “law of supply and demand” and the “law of costs,” and that they cannot therefore replace economic explanations of prices. Secondly, from a methodological point of view, these studies are based on field surveys that provide concrete information on certain markets but they lose sight of an aspect that is fundamental to the Austrian School, the interdependence of prices in different markets. And when this interdependence is taken into account, namely, in the case of the relationship between cost and price, the causal link postulated by sociologists goes from cost to price when Austrian economists argue that it goes in the opposite direction.     

浅议征收房产税对未来房价的影响

房价包括房地产开发成本和开发商利润两部分,其中土地费用、建安成本和税费占房地产开发成本的90%左右,成本因素、供求关系和政策因素是影响房价上涨的主要因素.从短期来看,征收房产税会增加炒房、囤房者的投资持有成本,也会影响购房者对未来的预期,有利于遏制房价过快增长;但就长期而言,由于需求大于供给的总趋势没有变,居民对住房的...     

陕西省住宅价格波动研究与对策分析

近年来,陕西省尤其是西安市的住宅价格持续快速上升。本文从决定价格的需求和供给两方面入手,分析了陕西省住宅价格快速上升的原因,并针对需求过旺、成本上升等成因提出了相应对策建议。     

Leapfrogging, Urban Sprawl, and Growth Management: Phoenix, 1950–2000

Through a case study of Phoenix, Arizona, this paper examines how urban sprawl is linked to opportunities for capital gains. It focuses on "leapfrogging," in which developers skip over properties to obtain land at a lower price further out despite the existence of utilities and other infrastructure that could serve the bypassed parcels. The paper examines patterns of growth since 1950 and planners' efforts to structure that growth. It discusses two programs that addressed consequences of leapfrogging: development impact fees to help pay for infrastructure costs of new development and an Infill Housing Program to encourage residential development on vacant land. It concludes with a brief discussion of the future of growth management in Phoenix.     

基于土地杠杆的住房价格动态分解

住房可分为土地和依附于土地的建筑物两部分。基于土地杠杆基本概念,利用我国35个大中型城市数据,将住房价格动态分解为土地价格和建筑物价格,考察我国住房价格增长中土地增值的贡献比例与速度。对土地杠杆假说的实证检验发现,拥有更高土地杠杆的住房,其增值速度会更快。通过对土地杠杆假说的实证研究,对于了解潜在的房价决定机制、价格指数建立、土地利用限制的成本评估,以及制定住房政策和评估住房市场的合理性等,都具有重要的作用。     

克服我国房地产业的市场失灵和调控失灵

基于我国城镇土地国有的基本国情,本文从马克思政治经济学视角,围绕目前我国房价过高的问题进行了讨论。依据马克思、恩格斯关于地租的本质、地价对房价重大影响、土地不是普通商品、实行土地国有制等论述及所进行的讨论,本文提出应加强对国有土地公共性质的认识,改变用过度市场化的方法去配置国有土地资源,保护公民的基本土地使用权,完善我国普遍住房保障以及进一步强化发展为人民的执政理念等建议。     

Optimal density of radial major roads in a two-dimensional monocentric city with endogenous residential distribution and housing prices

This paper proposes an analytical urban system equilibrium model for optimizing the density of radial major roads in a two-dimensional monocentric city. The proposed model involves four types of agents: local authorities, property developers, households and household workers (i.e. commuters). The local authorities aim to maximize the total social welfare of the urban system by determining the optimal density of radial major roads in the city. The property developers seek to determine the intensity of their capital investment in the land market to maximize the net profit generated from the housing supply. The households choose residential locations that maximize their utility within a budget constraint, and the commuters choose the radial major roads that minimize their individual costs of travel between home and workplace. A heuristic solution procedure is developed to find the urban system equilibrium solution. A system optimum model is also proposed to optimize the density of radial major roads that maximizes the social welfare of the urban system. The proposed model can endogenously determine household residential distribution and land values across the city, along with the housing market structure in terms of housing prices and space. Numerical comparative static analyses of congestion pricing and road infrastructure investment (adding a new radial major road) are carried out together with evaluation of the effects of the service level of radial major roads, urban population size, and household income level on the urban economy.     

PROPERTY-LED INFORMALITY: Shifting Informal Land Development from Popular Housing to Middle-Class and Elite Speculation in Belo Horizonte

Recent decades have seen a rising interest in the peripheral nature of urbanization processes. While research has put the spotlight on large-scale, transnational and financialized real estate actors, less attention has been paid to informal land developers. Addressing that knowledge gap, this article underscores the key role of land developers in informal urbanization through a case study of Belo Horizonte, Brazil. A mixed-methods approach provides new evidence of the widespread, variegated and spatially uneven development of irregular and clandestine subdivisions over the last two decades, revealing a heterogeneous landscape of informal developers. The study shows that informal development has been shifting from the typical popular and peripheral subdivision, which provided precarious yet affordable housing for working-class families, to new forms of speculative investment for the middle and upper classes, such as country homes and gated communities in peri-urban and rural areas. I argue that this shift is explained by both national and local changing regulatory frameworks and processes of economic restructuring, urban neoliberalism and housing financialization in the periphery. In light of this, I propose the notion of ‘property-led informality’ to refer to a regime of informal urbanization increasingly dominated by commodified, rentiership and speculative land dynamics in the sprawling metropolises of the global South.     

Segmentation in urban housing markets

This study tests the hypothesis that urban housing markets are segmented in the sense of significantly different prices per unit of housing services existing contemporaneously in spatially or structurally defined submarkets. Using an unusually rich data set for single-family, suburban Boston homes, significant differences in the prices of individual housing attributes are found; but these differences result in negligible differences in the overall price per unit of services. A main conclusion is that the market is working fairly efficiently to eliminate price premiums and discounts, at least in the portion of the market analyzed.     

The elasticity of substitution in urban housing production: A VES approach

Many of the models which have been developed to explain urban spatial structure and land-use patterns rest on the properties of production functions. Differing factor price ratios within urban areas, particularly land prices, result in capital-land ratios exemplified by high-rise apartments and single-family dwellings. The purpose of this paper is to explore a new functional form for the housing production function. Specifically, a variable elasticity of substitution production function is proposed and some preliminary empirical evidence is provided using data for single-family housing.     

Do political parties matter for local land use policies?

Despite interest in the impact of land use regulations on housing construction and housing prices, little is known about the drivers of these policies. Conventional wisdom holds that homeowners have an influence on restrictive local zoning. In this paper, we contend that the party controlling local government might make a major difference. We draw on data from a large sample of Spanish cities for the 2003–2007 political term and employ a regression discontinuity design to document that cities controlled by left-wing parties convert much less land from rural to urban uses than is the case in similar cities controlled by the right. The differences between governments on the two sides of the political spectrum are more pronounced in places with greater population heterogeneity and in those facing higher housing demand. We also present evidence suggesting that these partisan differences might ultimately impact on housing construction and housing price growth.