Land prices and land subdivision in Madina,Saudi Arabia; 1965–85

Summary

This paper is concerned with explaining the relationship between land prices and subdivision activity in Madina, Saudi Arabia. This article is not concerned with the effect of land prices on individual landowners, but rather on the supply of land in general. First it is necessary to explain the increase in land prices and why they have risen in real terms over time, what are the periods of growth and decline and what effects have they had on the supply of land for subdivision. This paper then explains the geographical variations in land prices and their influence on the distribution of land subdivision throughout the Madina area, especially in inner city areas and suburban areas.     

The land resource: Policy and management

Summary

This paper advocates the preparation by major urban planning authorities of land budgets to obtain a satisfactory balance between the development of derelict or vacant land and greenfield sites. Such budgets, requiring a city‐regional dimension, should be implemented by the public and private sectors, both of which need to find means of channelling profits from peripheral or out‐of‐town projects to counter losses on the development or ‘greening’ of inner‐city sites. Suggestions are made as to the form of land budgets, and the means by which they could be put into effect. The paper reviews briefly the various outlooks on the issue of balance between the development of urban and rural land, and the state of the art of priority setting for this purpose by central and local government. Although high standards are set by a few metropolitan areas in accounting for and monitoring the land resource, this is by no means widespread. Indeed in several major urban areas the matter does not even appear to be treated as a policy issue. Amongst the measures required to improve the situation is the need for wider use of skills attuned to development finance and management.     

基于面板数据的省会城市居住地价的差异及成因研究

研究目的：基于2000 — 2006年面板数据,分析省会城市居住地价的差异、主要影响因子及其影响程度。研究方法：混合OLS估计方法、固定效应模型和随机效应模型。研究结果：（1）中国省会城市居住地价存在明显的时空差异,2005年及以后地价增长明显,且东部地区地价与中、西部地区的差距进一步拉大;（2）将城市间居住地价的影响因素分为全国宏观经济因素、区域整体差异因素和城市个体因素三个层面,并基于引致需求理论,构建更具实效性的城市居住地价影响因子体系;（3）建成区面积、城市人均GDP、国际旅游收入、2004年8月31日之后土地供应方式的重大转变（正向关系）和房地产开发投资（负向关系）对居住地价有显著影响。研究结论：面板数据模型是中国城市间地价问题定量分析的一个有效工具。     

城镇土地估价的相关技术标准分析--<城镇土地估价规程>与<房地产估价规范>比较

研究目的比较分析<城镇土地估价规程>与<房地产估价规范>在技术标准上的差异性,确定未来城镇土地估价的技术规范方向.研究方法文献资料法和比较分析法.研究结果(1)两个技术标准都强调价格的正常性,但土地估价更多从权益角度考虑,突出出让土地使用权的地位,房地产估价更多地从正常市场交易的价格前提考虑,从而导致估价基础的差异;(2)二者估价的方法相近,但术语用词、应用要求存在差别,特别是基准地价的制定和应用在土地估价中有着重要的地位;(3)对土地权益和与之相关的估价目的,土地估价重视不同用途和各种权利状况下的估价操作,房地产估价则重视具体目的估价时对合法原则的遵循.研究结论两个技术标准应逐步统一,以适应规范市场的发展需要,其关键在于明确基准地价在中国估价技术中的重要地位；规范统一专业术语；统一估价目的方法应用要求。     

农村集体经营性建设用地价格影响因素的实证分析*——基于江西省余江县179份交易案例

[目的]确定农村集体商服用地、工业用地价格的影响因素,为科学评估农村集体经营性建设用地地价、构建城乡统一建设用地市场提供参考。[方法]利用全国农村土地使用制度改革试点之一的江西省余江县179个交易案例,运用特征价格模型分析农村集体商服用地、工业用地价格的影响因素及各类因素的贡献率。[结果](1)农村集体商服用地价格的主要影响因素依次为乡镇财政收入、人均纯收入、到客运站距离、到国道的距离、教育设施;农村集体工业用地价格的主要影响因素依次为人均纯收入、人均农村居民点面积、到客运站的距离、到国道的距离。(2)社会经济因素、区位交通因素和公共设施因素对集体商服用地价格的贡献度分别为69. 0%、20. 4%和10. 6%;社会经济因素和区位交通因素对集体工业用地价格的贡献度分别为52. 8%和47. 2%。[结论]总体上与国有城镇建设用地价格存在共性规律,但存在部分因素与国有建设用地价格规律存在差异,农村集体经营性建设用地估价不宜完全套用城镇建设用地的思路。     

Urban proximity,demand for land and land shadow prices in Malawi

We assess the spatial and intertemporal variation in farmland prices using per hectare minimum willingness to accept (WTA) sales and rental (shadow) prices in Malawi. We use three rounds of nationally representative farm household panel data from the Living Standards Measurement Surveys (LSMS), collected in 2010, 2013 and 2016. The sample is split in quintiles based on distance from the nearest major city, building on the land valuation and transaction cost theory, and agrarian political economy perspectives on global and national land transactions. Generally, farmland shadow prices decrease with distance from urban areas. However, farmland shadow sales prices increased more sharply between 2010 and 2013 in rural areas (+100 % vs +30 % in urban proximity). The results indicate that the sharp increase in demand for large-scale land transfers following the sharp increase in energy and food prices also affected rural smallholders’ land valuation, even in remote rural areas of Malawi. Conversely, by 2016 land shadow sales prices were again, like in 2010, about three times as high in areas near urban centres compared to remote rural areas. Even though sales prices declined in remote rural areas from 2013 to 2016, rental prices remained high. Using farm household-level population pressure variable, we show that local population pressure is a driver of farmland shadow prices, indicating land scarcity challenges, growing demand for land, and poorly developed land markets. With increasing land scarcity, land markets are becoming more important and need to be factored in when formulating development policies that aim to improve access to land in both peri-urban and rural areas.     

Land economic rent computation for urban planning and fiscal purposes

This article proposes an innovative methodology to compute economic rents of land designed to current or potential offices uses. It consists in the establishment of a cause-and-effect relation between offices’ price levels and correspondent levels of land rent, considering the main factors that influence property prices, the ones that guide public and private activities’ location decisions and the inter-dependencies between land and real estate property markets. The rationale subjacent to this research is that land economic rent is determined by the difference between offices market price and a set of costs correspondent to land acquisition, planning and building processes, and a profit margin. An assessment of surplus values is provided in order to compute it as the difference between total land market value (land economic rent plus economic return on land use) and correspondent tributary patrimonial-value according to legal valuation proceedings (settled on property law). In order to reach these goals, variables that exert influence on urban planning and municipal management were identified, an urban management information system was designed and implemented, and an integrated and interactive model to support decisions in urban planning – concerning real estate offices and land prices and characteristics – was developed. These tools were applied as a case study to Oporto city (Portugal). They embody updating functionalities, setting up as an on-going support to policies of municipal land use management (particularly applied to offices uses). A proposal is made to integrate similar models in territorial plans as valuation tools to support better approaches to assess the impact of planning decisions on real estate and land values, thus informing a more equitable, efficient and local-based tax basis. Implications of this analysis for urban planning and fiscal settings are proposed.     

基于不同住房属性视角的土地供应规模对房价的影响

研究目的：基于住房消费品和投资品的双重属性视角分析住宅用地供应规模对房地产市场的差异化影响。研究 方法：理论分析、固定效应面板回归模型、门槛回归模型。研究结果：（1）上一年住宅用地供应面积增加 1% 可使当年 住房竣工面积显著增加 0.17%,弱于房地产投资资金对住房竣工面积所产生的 0.25% 的提升作用,该结果一定程度上 验证了住宅用地供应与住房供给之间存在生产函数渠道的影响路径;（2）基于实际房价与租金还原房价的偏离程度测 算,发现不同房地产市场投资热度下,住宅用地供应对房价影响存在双重门槛效应,门槛值分别为 2.05 和 2.92;（3）低 投资热度下,上一年住宅用地供应规模的增加可显著降低当年的房价,而高投资热度下则会起到推高房价的作用。研 究结论：住房作为消费品和投资品,存在不同的价格机制和供求规律。当住房市场以投资品属性为主导时,需求曲线 向上的刚性走势违反了一般的商品需求规律,供给曲线的右移将导致均衡价格越来越高。     

Supply side constraints in the Israeli housing market—The impact of state owned land

House prices in Israel have risen since 2008 by as much as 98%. Much of this increase is attributed to low levels of housing supply and housing supply elasticities. In Israel land is frequently owned by the state. This results in heavy government involvement in the housing market through the control of land supply via land tenders. This paper estimates the impact of state owned land on the Israeli housing market focusing on these unusual conditions of land supply. A model for the creation of new housing units is proposed. This incorporates land tenders, enabling the estimation of housing supply dynamics with an accurate measure of public land supply. The model is tested using regional panel data which facilitates the dynamic estimation of national and local supply elasticities and regional spillovers. The paper uses novel data sources resulting in a panel of 45 spatial units over a span of 11 years (2002–2012). Due to the nonstationary nature of the data, spatial panel cointegration methods are used. The empirical results yield estimates of housing supply price elasticities and elasticities with respect to land supply. Results show that housing supply is positively impacted by governmental decisions but the impact is low. Supply elasticity with regard to government land tenders stands at around 0.05 over the short run and 0.08 over the long run. Government policy of offering land in low demand areas and fixing minimum-price tendering does not seem to affect housing supply. Policy implications point to the need for more sensitive management of the delicate balance between public and private source of land in order to mitigate the excesses of demand shocks.     

中国商住用地价格倒挂及其产生机理

研究目的：剖析中国商住用地价格倒挂现象产生的机理,为中国住宅用地制度改革提供建议。研究方法：数据统计法,比较分析法。研究结果：无论从房地产价格还是土地价格看,近年中国商住用地价格倒挂现象普遍,商业房地产比住宅房地产价格低15% — 40%;产生这一现象的原因主要有：工业用地的低价过量供应挤占了住宅用地的供应量,住宅用地比重长期偏低,住宅用地内部各类土地供应结构失衡,住宅用地的供给不足加剧了地价和房价上涨的预期,住宅用地承担了过多的为地方财政做贡献的重任。研究结论：建立多层次的住房保障体系,细分住宅用地类型,加大住宅用地特别是保障性住房用地的供给力度。     

The incidence of agricultural policy on the land market in Poland: Two-dimensional and multilevel analysis

Research has shown that the reform of the CAP which broke the link between subsidies and production (the decoupling reform) has had little effect on farmers’ demand for land under the SPS (Single Payment Scheme) system. For this reason, in the conditions of the SPS, there is petrifaction of the structure of agricultural land, and an upward trend in prices on the market for agricultural land should not be expected to continue in the long term. Under the conditions of the SAPS (Single Area Payment Scheme), which applies in the EU-12 new Member States, the position in the market for agricultural land is different. However, most research carried out in Europe relates to the SPS system, where marginal changes in the value of land are identified as a result of the incidence of agricultural policy, as well as quantitative and qualitative attributes of particular properties. Under SAPS, these issues have not been sufficiently investigated. The authors have attempted to fill that gap, constructing a two-dimensional and multilevel econometric model for land prices in a leading agricultural region of Poland based on a sample of 653 transactions in the years 2010–2013. The aim is to determine how policy, as well as various quantitative and qualitative features, including location factors, affect the prices of land under SAPS. The results indicate, among other things, the key importance of the functional type of rural areas – properties in agrotouristic areas gained 43% higher prices on average than those in agricultural areas. Another finding of interest is that LFA and agro-environmental payments decapitalise the value of land.     

2021年土地科学研究重点进展评述及2022年展望 ——土地经济分报告

研究目的：梳理并比较2021年国内外土地经济领域的研究进展和研究重点,展望未来研究方向。研究方法：文献分析法。研究结果：2021年,国内研究集中于城市土地利用效率、城市土地供给、农地流转机制建设、土地价格的空间分布、土地要素市场化、产权安全效应、产权制度创新、土地征收补偿以及宅基地制度改革等问题;国外研究重点关注城市土地价格的影响因素、土地市场与农业发展、土地市场参与主体与土地利用效率、产权安全与农业生产效率、土地制度改革的减贫效应等。研究结论：土地经济研究的深度和广度得到了拓展,土地经济研究需要进一步结合中国国情,着力探索理论创新,为形成有中国特色的土地经济理论、更好地为新时代土地制度改革服务而努力。2022年《中国土地科学》将重点关注土地经济基础理论探索、土地市场波动的理论与实证研究、土地要素市场化机制设计、土地制度改革配套政策、确权登记颁证进展与绩效评估、重要改革试点的跟踪与评价等。     

地价指数及其编制中的有关问题

地价指数是以正常市场条件下、在一定时期内,一个城市(或地区)各类用地价格及其总体的综合变动趋势的相对数。它是政府管理、调控土地市场的重要依据,同时也为投资者投资决策提供重要依据。基于对地价指数的基本属性、分类、主要作用及编制目的的分析,结合河北省地价指数编制中的实际工作,提出了地价指数编制中存在的一些问题。     

基于Panel Data模型的土地供应量对房价的影响研究

研究目的：定量反映土地供应量对房价的影响及其作用机制。研究方法：计量经济学方法。研究结果：一年前的土地供应量对房屋供应量的影响是正的,对房价的影响是负的,两者在统计上都是显著的,但土地供应量增加对降低房价的影响力非常小。两年前的土地供应量虽然影响房屋供应量,但却不影响房价。研究结论：影响中国当前房价的因素非常复杂,增减土地供应量对调控房价有一定作用,但必须同时有其他工具的辅助,否则其效果很可能不够显著。     

THE EGYPTIAN STATE AND AGRICULTURAL LAND MARKET 1810–1986

The paper examines the economic effects of state policy on land transactions in Egyptian agriculture since 1810, with special reference to the post-1952 government intervention in the land market. Following a combination of historical and econometric approaches, the analysis shows that: (i) under conditions of market forces, factor prices responded to changes in land-labour ratio, cotton price and output value, and landlords' monopoly power was dominant; (ii) while the inequality was sharply reduced after equity-directed intervention, value productivity of the scarce factor, land, has lost its significance in determining rental values and the effective supply of land has, since 1970, declined together with agricultural growth rates; and (iii) there has been a trade-off between equity and agricultural growth during periods of non-intervention and relaxation of tight State control of the land market. Proposals for policy adjustment are presented.     

The economic and financial gains from water markets in Chile

Chile is one of the few countries that has encouraged the use of markets in water resource management. In order to assess the impact of water markets and transactions costs in Chile, four river valleys, the Maipo, Elqui, Limarí, and the Azapa were selected as case studies. Transactions from the Elqui and Limarí valleys, during the years 1986 to 1993, were analyzed to determine the gains-from-trade from market transfers. In the economic and financial analysis of water markets, crop budgets were used to estimate the value of water in agricultural production. The value of water-use rights to urban water-supply companies was estimated using the avoided cost of an alternative investment in a water-storage reservoir. The analysis demonstrated that the market transfer of water-use rights does produce substantial economic gains-from-trade in both the Elqui and Limarí Valleys. These economic gains produce rents for both buyers and sellers. But buyers, especially farmers growing profitable crops who buy water-use rights and individuals buying water-use rights for potable water supply, receive higher rents then sellers. Large table-grape producers in the Limarí Valley and individuals buying water for human consumption in the Elqui Valley received the highest rents. In the Elqui Valley net gains-from-trade per share were within the range of recent transfer prices of US$1000. In the Limarí Valley, gains-from-trade per share are 3.4 times the recent prices of US$3000 for a share of water from the Cogotí Reservoir. Where trading was active, especially in the Limarí Valley, transactions costs have not presented an appreciable barrier to trading. Nonetheless, in the large canal systems with fixed flow dividers in the Elqui and Maipo Valley there have been very few transactions. Various factors contribute to the lack of trading, but the absence of trading in these large canal systems highlights the costs of modifying fixed infrastructure, especially for trades between farmers.     

Recent trends in the supply of land for industrial development in Hong Kong: A case study in planned decentralization

Summary

Although free enterprise remains the dominant characteristic of the Hong Kong economy, new land supply is controlled largely by the Hong Kong Government. Rather than establish a detailed system of development plans and controls, the Government has been able to achieve substantial decentralization of housing and industry through the location of new land release. The evidence suggests that industrial developers have been willing to build and industrialists to locate in decentralized areas, especially those close to the main urban areas. Furthermore, although vacancy rates are generally higher and rental levels lower in decentralized compared to centralized locations, the extent of the differences over time is not as pronounced as might be expected. Indeed, the overall strength of demand for industrial land, other than in the recent slump, has necessitated special policies to protect land for low‐density industrial users in decentralized locations. As planned decentralization approaches completion, attention is beginning to focus upon redevelopment in the older urban areas and upon the consequences of the Sino‐British Joint Declaration of 1985. Overall, recent land policies in Hong Kong offer the British observer some useful indications of the impact of government intervention in land use on existing property markets.     

2014年土地科学研究重点进展评述及2015年展望——土地市场和土地制度分报告

研究目的:呈现目前国内外土地市场的研究进展,总结研究重点并进行国内外比较,把握国内外研究的方向和差异。研究方法:文献法。研究结果:(1)国外已有不少学者提出依靠国家理论和制度安排来提高土地市场运行效率,国内学者则较多分析市场中价格表现和参与主体行为,以及市场与宏观经济环境的关系;中国农村土地市场问题成为新制度经济学尤其是产权学派研究的一个重要领域。(2)国内外土地制度研究都关注土地产权、土地征收以及政府行为等主题,但选题角度有所差异。研究结论:(1)未来土地市场研究的重点可能有:农村建设用地供应的激励相容治理结构,从风险偏误、逆向选择、前景理论和心理核算等方面研究农地流转中微观主体的行为,以及应用委托—代理等博弈论模型研究政府供地行为和土地财政问题。(2)未来土地制度研究的重点可能是:城乡统一建设用地市场制度、征地制度、土地立法和执法、土地流转、确权颁证和推进土地适度规模经营等方面的制度设计和政策评估。     

农村集体非农建设用地直接上市:市场失灵与其政策矫正

研究目的:研究中国农村集体非农建设用地直接上市陷于困境的制度之源,探讨农村集体非农建设用地直接上市的政策矫正。研究方法:局部均衡分析和交易费用分析。研究结果:中国现行法律法规对农村集体非农建设用地直接上市限制不当以及集体非农建设用地产权残缺提升了市场交易费用,减弱了当事人的集体非农建设用地供求,影响了交易效率,降低了社会福利。研究结论:必须"尊重农民土地财产权利",在明晰农村集体非农建设用地产权基础上,赋予农村集体非农建设用地直接上市的权利,从消除制度障碍、明晰土地产权等角度克服中国集体非农建设用地直接上市的瓶颈。     

土地供应规则的变化对北京市住宅用地市场的影响

研究目的:以2004年8月31日和2005年5月1日为界,将北京市住宅用地市场分为三个阶段,从土地供应量、地价、竞租曲线、土地—资本替代弹性等方面分析土地供应规则的变化对住宅用地招拍挂出让市场的影响。研究方法:定性分析,土地竞租曲线和土地—资本替代弹性分析。研究结论:(1)经营性项目用地招拍挂供应的政策对住宅用地市场的影响胜于“熟地”供应政策;(2)土地竞租曲线的变化反映土地市场在经过较大波动之后正在适应新的土地供应规则;(3)土地—资本替代弹性分析显示北京市住宅用地的市场效率仍然偏低。