Underground land values |
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Authors: | Joan Pasqual Pere Riera |
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Affiliation: | Department of Applied Economics, Autonomous University of Barcelona, Bellaterra 08193, Spain |
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Abstract: | Very often, underground land values appear to be a missing factor in land economics and planning, both at academic and practitioner level. In general, ignoring such a variable and potentially valuable resource may seriously delay any underground land policy to be undertaken. It can lead the public as well as the private sector to a short-sighted over-consumption of shallow subsurface space and under-consumption of deep underground space. Considering subsurface land values in economic studies of underground projects increases their reliability for the decision-making process. This paper shows a theoretical and empirical way to estimate underground land values, with applications. |
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Keywords: | Land values Underground land Subsurface land Land appraisal |
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