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The Determination of the Price of Land

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  • Alan W. Evans

    (Faculty of Urban and Regional Studies, University of Reading)

Abstract

Received theories of the land market are inadequate, since they ignore the supply of land. It is known that occupiers of land are usually unwilling to sell at the market price but require compensation for being forced to move. Incorporating this as a theory of supply into land market theory allows us to explain or predict that (a) urban sprawl will occur, in the absence of planning controls, (b) a development gains tax will slow down the rate of development of land and increase its price, (c) whether land is owner occupied or occupied by tenants will affect its development, and (d) powers of compulsory purchase may be necessary for certain kinds of development but may cause social costs.

Suggested Citation

  • Alan W. Evans, 1983. "The Determination of the Price of Land," Urban Studies, Urban Studies Journal Limited, vol. 20(2), pages 119-129, May.
    • Handle: RePEc:sae:urbstu:v:20:y:1983:i:2:p:119-129
    DOI: 10.1080/00420988320080271
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    References listed on IDEAS

    as
    1. Bentick, B L, 1972. "Improving the Allocation of Land between Speculators and Users: Taxation and Paper Land," The Economic Record, The Economic Society of Australia, vol. 48(121), pages 18-41, March.
    2. Thanos Skouras, 1974. "The Allocation of Land between Speculators and Users under a Land Ownership Tax: A Comment," The Economic Record, The Economic Society of Australia, vol. 50(3), pages 449-450, September.
    3. B. L. Bentick, 1972. "Improving the Allocation of Land Between Speculators and Users:Taxation and Paper Land," The Economic Record, The Economic Society of Australia, vol. 48(1), pages 18-41, March.
    4. James R. Markusen & David T. Scheffman, 1978. "Ownership Concentration and Market Power in Urban Land Markets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 45(3), pages 519-526.
    5. C.D. Foster & S. Glaister, 1975. "The Anatomy of the Development Value Tax," Urban Studies, Urban Studies Journal Limited, vol. 12(2), pages 213-218, June.
    6. Alan W. Evans, 1973. "The Economics of Residential Location," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-01889-5.
    7. Donald C Shoup, 1970. "The Optimal Timing Of Urban Land Development," Papers in Regional Science, Wiley Blackwell, vol. 25(1), pages 33-44, April.
    8. Evans, Alan W, 1982. "The Neutrality of a Development Gains Tax," Public Finance = Finances publiques, , vol. 37(1), pages 59-66.
    9. Munch, Patricia, 1976. "An Economic Analysis of Eminent Domain," Journal of Political Economy, University of Chicago Press, vol. 84(3), pages 473-497, June.
    10. Skouras, A, 1978. "The Non-Neutrality of Land Taxation," Public Finance = Finances publiques, , vol. 33(1-2), pages 113-134.
    11. Skouras, Thanos, 1974. "The Allocation of Land between Speculators and Users under a Land Ownership Tax: A Comment," The Economic Record, The Economic Society of Australia, vol. 50(131), pages 449-450, September.
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    Cited by:

    1. Li Tian, 2014. "Property Rights, Land Values and Urban Development," Books, Edward Elgar Publishing, number 15856.

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