We apply the Systematic Literature Review (SLR) approach to surveying empirical studies on urban land value. We show that research attention is directed by market size and data availability towards developed economies and residential land. Two distinct patterns of literature evolution emerge,...

Previous studies suggest that market forces and the strategic behavior of local governments regarding land development jointly contribute to rapid urban expansion in China. In underdeveloped small cities in Western China, the market is weak, and local governments lack the conditions required to...

This study explores the relationship between income growth and housing prices in Poland's seven largest cities from 2013 to 2024. Through statistical analysis, the research reveals a strong correlation between average gross wages, and both offer and transaction prices in the real estate market,...

This study examines the impact of China's special economic zones (SEZs) on land misallocation, primarily using city-level data for China from 2003 to 2018. The findings indicate that establishing SEZs exacerbates land misallocation by over-allocating land to cities, resulting in an average...

This paper explores the interplay of tourism activity, local expenditures on environmental protection, and the decisions to purchase apartments, family houses, and urban land. A random effects panel model is estimated by using data from cities and municipalities from 2012 to 2021 in Croatia, a...

In this study, we investigate how geographic proximity to industrial services provided by cities across the urban hierarchy contributes to differences in land prices of nearby towns. We construct three urban hierarchy tiers for cities in China based on their administrative levels. Using over...

Can colonialism affect today's urban outcomes? This paper examines the long-run impact of Concessions - foreign-run enclaves established in the late nineteenth century inside Chinese cities by European settlers for residence and investment purposes. They soon became the new economic hubs of...

A noticeable data gap in the evaluation of any property market is that of a residential land price series. Land costs are one of the most significant components of housing construction, however many markets do not have accurate information on such prices. The Irish housing market, more than most...

The creation of a dense, convenient, and diverse built environment is a strategic approach for fostering urban development. However, few studies have considered the relationship between a compact built environment and livability. This study seeks to answer the following question: What type of...

Can colonialism affect today’s urban outcomes? This paper examines the long-run impact of Concessions - foreign-run enclaves established in the late nineteenth century inside Chinese cities by European settlers for residence and investment purposes. They soon became the new economic hubs of...

Greater Cairo (GC) is the seventh-largest metropolitan city globally. In recent decades, GC has witnessed massive urban expansion, which has yet to be empirically measured or characterized. This research seeks to explore the patterns of urban growth and changes in urban form in GC from 1973 to...

While the relationship among land price, transportation cost, and urban sprawl under the condition of local governments monopolizing land supply has been rarely discussed in the literature, this paper addresses this gap by hypothesizing based on the monocentric city model. The hypothesis...

We use panel data from 30 provinces of China over the period 2002-2019 to examine the effect of rising urban real estate prices on employment. Empirical results, using instrumental variable estimation, show that rising urban real estate prices have a negative and statistically significant impact...

The field of ‘Urban Economics’ is an elusive object, whose US-based origins and internationalization we attempt to track in this paper. The most stable and distinctive object associated with the term ‘urban economics’ is the Alonso-Muth-Mills model. We thus reconstruct the field through...

A key reason for the existence of cities are the externalities created when people cluster together in close proximity. During Covid, such interactions came with health risks and people found other ways to interact. We document how cities changed during Covid and consider how the persistence of...

As the prime urban land in Kathmandu Valley got scarce, real estate agents and land brokers marched all over the ecologically sensitive farmlands and hills in search of cheaper land. Some of them even resorted to unlawful land-grabbing activities. Others illegally annexed scarce public land into...

Studies have found that air pollution increases with land misallocation, that is, industrial land is offered at low prices and in large quantities, while commercial/residential land at high price and in a restricted manner. We posit that urban sprawl is an important intermediate mechanism by...

Tall buildings are central to facilitating sustainable urbanization and growth in cities worldwide. We estimate average elasticities of city population and built area to aggregate city building heights of 0.12 and -0.17, respectively, indicating that the largest global cities in developing...

We propose an urban land use model to discuss the conversion of customary agricultural land to formal and informal residential land in a developing country city. Because customary land sales are insecure, migrant buyers face a risk of eviction, which affects land markets in non-trivial ways....

This paper examines the fiscal motives behind municipal governments' decisions to allocate commercial and residential land when two categories of land use are subject to different fiscal revenue alternatives: business-related tax and/or land rent. We use urban parcel-level land transfers during...

While land titling is advocated to improve land and financial market functioning in developing country cities, evidence of credit market effects is limited. We use 20 years of registry data from Lesotho to assess impacts of an urban titling program overall and by component (titling vs....

Aggregate land value is useful for a variety of research purposes including measuring the social surplus generated by cities and evaluating urban development policies. Nevertheless, only one previous study, Albouy et al. (2018), has attempted to measure cross-sectionally comparable aggregate...

We examine the effect of a large-scale administrative reorganization in China, where counties are annexed into cities to accommodate urban growth. We present a simple model to illustrate how this annexation may affect firm entry decisions and in turn land market outcomes. Using nationwide data...

This paper addresses the puzzling decline of Total Factor Productivity (TFP) levels in rapidly growing economies, such as Singapore, despite advancements in technology and high GDP per capita growth. The paper proposes that TFP growth is not negative; instead, standard growth decompositions have...

This study estimates the effect of land use regulation on land price by exploiting the feature of building height limits of the aviation law in Fukuoka, Japan. The law limits the building height within 4000 meters of an airport to 54.1 m, but when the distance exceeds 4000 meters, the limits are...

Who will benefit and who will lose from a permanent increase in working from home (WFH)? This paper investigates the impact of WFH on cities of different sizes, highlights the dangers of too much WFH, and discusses aspects of the disagreement between workers and firms. Our results suggest that...

Till now, we still need a good house price model. House price is a typical price phenomenon that land rent exists, then we can find the answer from land rent theory. We developed a house price model based on land rent theory. The house price model is the good house price model. The house price...

This paper examines whether urban leverage, defined by the bank loan-to-deposit ratio in a city, affects housing prices in China. Using a panel dataset of 236 cities and hedonic models, we find a depressing effect of urban leverage on housing price in first- and second-tier cities while leaving...

This paper develops a new approach to estimate the value of urban land. We extend AMM theory by adding the assumption of partial irreversibility. Bundled goods assumptions imply that land value with a structure can evolve differently than as-if vacant value, even in the first decades of...

We develop a model to analyze information aggregation and learning in housing markets. In the presence of pervasive informational frictions, housing prices serve as important signals to households and capital producers about the economic strength of a neighborhood. Our model provides a novel...

With shrinking cities becoming a global issue, declining housing demands due to declining population leads to a reduction in land prices. Housing asset value decline occurs mainly in suburbs, which has an economic effect on elderly households. Although some issues have already been indicated, it...