Land Use Rights, Government Land Supply, and the Pattern of Redevelopment in Shanghai
AbstractThis paper reviews the urban redevelopment activities in Shanghai as the land market reforms were introduced. We focus on the impact of land use institutions on the spatial pattern of these activities. Sites for private real estate redevelopment were supplied by individual districts in the city. But the need for districts to pay for the resettlement of displaced residents contributed to a spatial mismatch between the supply of redevelopment sites and the market demand for commercial real estate space. Resettlement costs are highest at the high demand locations. State owned enterprises and institutions occupying land allocated by the state also engaged in real estate development. Whereas the density of private redevelopment was sensitive to the volume of commercial activities in a district, this does not appear to have been important in determining the location of the significant increase in the stock of commercial space resulting from development by local enterprises and institutions. This growth shows considerable decentralization between 1993 and 1996,indicative of spatially inefficient redevelopment activities by land-rich state enterprises.
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Bibliographic InfoArticle provided by Asian Real Estate Society in its journal International Real Estate Review.
Volume (Year): 2 (1999)
Issue (Month): 1 ()
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Postal: Asia Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
Web page: http://www.asres.org/
Postal: Asian Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
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- Lichtenberg, Erik & Ding, Chengri, 2009.
"Local officials as land developers: Urban spatial expansion in China,"
Journal of Urban Economics,
Elsevier, vol. 66(1), pages 57-64, July.
- Lichtenberg, Erik & Ding, Chengri, 2008. "Local Officials as Land Developers: Urban Spatial Expansion in China," Working Papers 6834, University of Maryland, Department of Agricultural and Resource Economics.
- Feng, Juan & Lichtenberg, Erik & Ding, Chengri, 2013. "Balancing Act: Economic Incentives, Administrative Restrictions, And Urban Land Expansion In China," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 149669, Agricultural and Applied Economics Association.
- Fu, Yuming & Somerville, C. Tsuriel, 2001. "Site Density Restrictions: Measurement and Empirical Analysis," Journal of Urban Economics, Elsevier, vol. 49(2), pages 404-423, March.
- Ding, Chengri & Lichtenberg, Erik, 2008. "Using Land to Promote Urban Economic Growth in China," Working Papers 36748, University of Maryland, Department of Agricultural and Resource Economics.
- Zheng, Siqi & Fu, Yuming & Liu, Hongyu, 2006. "Housing-choice hindrances and urban spatial structure: Evidence from matched location and location-preference data in Chinese cities," Journal of Urban Economics, Elsevier, vol. 60(3), pages 535-557, November.
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