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Institutions at the Interface of Urban Planning and Real Estate

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  • Kauko Tom

    (Independent scholar, Budapest, Hungary)

Abstract

While being largely confined to different realms, planning and real estate also have a symbiotic relation. The logic of this relation varies in time and space, which makes the analysis of the balance between the two fields challenging. When we define these actions as institutions, potentially powerful analytic tools become available. This critical literature review examines some of the most relevant of them, in various specific institutional arenas, including the impact of planning on property markets and prices. The aim is to examine the role of institutions at the interface of urban planning and real estate. In other words, to see what kind of institutional effects are identifiable, whenever planning and property interests overlap. The conclusions suggest that a change in the urban fabric is likely to impact the possibility to use a site, and thereby also the value of land and built property.

Suggested Citation

  • Kauko Tom, 2019. "Institutions at the Interface of Urban Planning and Real Estate," Real Estate Management and Valuation, Sciendo, vol. 27(3), pages 17-30, September.
    • Handle: RePEc:vrs:remava:v:27:y:2019:i:3:p:17-30:n:2
    DOI: 10.2478/remav-2019-0022
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    References listed on IDEAS

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    1. Roland Goetgeluk & Tom Kauko & Hugo Priemus, 2005. "Can Red Pay for Blue? Methods to Estimate the Added Value of Water in Residential Environments," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 48(1), pages 103-120.
    2. Patsy Healey, 1998. "Regulating property development and the capacity of the development industry," Journal of Property Research, Taylor & Francis Journals, vol. 15(3), pages 211-227, January.
    3. Michael Ball & Colin Jones, 2013. "Introduction to Special Issue," Journal of Property Research, Taylor & Francis Journals, vol. 30(3), pages 167-169, September.
    4. Fiorentina Angjellari-Dajci & Richard J. Cebula, 2016. "The impact of historic district designation on the prices of single-family homes in the oldest city in the United States, St. Augustine, Florida," Journal of Property Research, Taylor & Francis Journals, vol. 33(1), pages 64-96, March.
    5. Sarah Monk & Christine M. E. Whitehead, 1999. "Evaluating the Economic Impact of Planning Controls in the United Kingdom: Some Implications for Housing," Land Economics, University of Wisconsin Press, vol. 75(1), pages 74-93.
    6. Vatn, Arild, 2005. "Rationality, institutions and environmental policy," Ecological Economics, Elsevier, vol. 55(2), pages 203-217, November.
    7. Jacek Łaszek & Krzysztof Olszewski & Joanna Waszczuk, 2016. "Monopolistic competition, price discrimination as a development company behaviors in the housing primary market," Chapters from NBP Conference Publications, in: Hanna Augustyniak & Jacek Łaszek & Krzysztof Olszewski & Joanna Waszczuk (ed.), Papers presented during the Narodowy Bank Polski Workshop: Recent trends in the real estate market and its analysis - 2015 edition, chapter 9, pages v1, 185-2, Narodowy Bank Polski.
    8. Thierry Theurillat & Patrick Rérat & Olivier Crevoisier, 2015. "The real estate markets: Players, institutions and territories," Urban Studies, Urban Studies Journal Limited, vol. 52(8), pages 1414-1433, June.
    9. J.M. Pogodzinski & Tim R. Sass, 1991. "Measuring the Effects of Municipal Zoning Regulations: A Survey," Urban Studies, Urban Studies Journal Limited, vol. 28(4), pages 597-621, August.
    10. Paul C. Cheshire, 2013. "Land market regulation: market versus policy failures," Journal of Property Research, Taylor & Francis Journals, vol. 30(3), pages 170-188, September.
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    12. Arild Vatn, 2005. "Institutions and the Environment," Books, Edward Elgar Publishing, number 2826.
    13. J. Michael Pogodzinski & Tim R. Sass, 1990. "The Economic Theory of Zoning: A Critical Review," Land Economics, University of Wisconsin Press, vol. 66(3), pages 294-314.
    14. Jørgen Lauridsen & Niels Nannerup & Morten Skak, 2013. "House prices and land regulation in the Copenhagen area," Journal of Property Research, Taylor & Francis Journals, vol. 30(3), pages 205-220, September.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    institutions; planning; property markets; property prices; real estate;
    All these keywords.

    JEL classification:

    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R33 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets

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