The Longer-Term Potential of Land Value Uplift: Insights from Great Britain and the Yangtze River Delta Region

Keywords: Land value uplift; value capture; spatial equilibrium; land use and transport; planning support systems
Session Type: Virtual Paper Abstract
Day: Saturday
Session Start / End Time: 2/26/2022 09:40 AM (Eastern Time (US & Canada)) - 2/26/2022 11:00 AM (Eastern Time (US & Canada))
Room: Virtual 73

Abstract

In many cities, the largest public policy interventions in infrastructure and urban development tend to target the periphery of cities with no immediate financial prospects of land value capture (LVC). For instance, both the UK and China are keen to decentralize their business activities and populations from overheated cores to the periphery, and in both cases, knowledge about LVC in the periphery is particularly deficient. We developed a recursive spatial equilibrium model to understand and measure the land value uplift potential in those areas, as well as the traditional ‘honey-pot’ LVC locations. The Great Britain and the Yangtze River Delta region are chosen to facilitate the in-depth comparison of land and related urban policies, pinpointing the causes and effects in terms of land values and their implications for value capture and future growth up to the year 2070. The insight from the study contributes to policies for sustainably managing land resources across the respective metropolitan areas and their hinterlands, and may shed light for similar interventions in other city regions.