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Ground Lease-Based Land Use System versus Common Interest Development

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  • F. Frederic Deng

Abstract

In recent decades, we observe brisk growth of ground lease-based land use systems, such as shopping malls, and Common Interest Developments in retail and residential real estate, respectively. I argue that the ground lease system is an efficient response to the hold-up problem in urban land use because of two facts: the bundled consumption of land and collective goods, and landowners’ limited ex-post mobility. It incorporates the core insight of Henry George view with Tiebout competition. But, due to bundled consumption, different characteristics of retail and residential real estate determine the dominance of the ground lease systems and CIDs, respectively.

Suggested Citation

  • F. Frederic Deng, 2002. "Ground Lease-Based Land Use System versus Common Interest Development," Land Economics, University of Wisconsin Press, vol. 78(2), pages 190-206.
    • Handle: RePEc:uwp:landec:v:78:y:2002:i:2:p:190-206
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    References listed on IDEAS

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    Cited by:

    1. Feng Deng, 2017. "Homeowners association vs. leasehold," Asia-Pacific Journal of Regional Science, Springer, vol. 1(2), pages 307-327, October.
    2. Feng Deng, 2018. "A theoretical framework of the governance institutions of low-income housing in China," Urban Studies, Urban Studies Journal Limited, vol. 55(9), pages 1967-1982, July.
    3. Ying Wang & Nick Clarke, 2021. "FOUR MODES OF NEIGHBOURHOOD GOVERNANCE: The View from Nanjing, China," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 45(3), pages 535-554, May.
    4. Yang, Hee Jin & Kim, Yoon-jung, 2022. "The role of territorial collective goods in Korea’s residential development," Land Use Policy, Elsevier, vol. 112(C).
    5. F. Frederic Deng, 2003. "Collective Goods and the Political Hold-Up Problem," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 159(2), pages 414-434, June.

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    JEL classification:

    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations

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