This paper studies the impact of building land limitations on within-city variation in urban density and its components crowding, residential coverage, and building height. We utilise geographical obstacles like steep inclines or water bodies as exogenous source of building land limitations...

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...

This study draws from the redevelopment, real option, and urban spatial growth literatures to explore the spatial dynamics of the components of house prices. More specifically, the paper proposes that the capitalized value of the option to redevelop housing at the property level can be estimated...

Rezoning commercial and residential parcels to permit mixed-use and higher density development in cities is a potentially important policy response to a variety of pressing urban planning issues, including housing affordability and transit congestion. Yet, comparatively little is known about the...

Using data for 134 locations in New Zealand, we study the effects of crime and agglomeration on urban amenity. We find that crime has significant negative effects on the value of urban amenity, with elasticities of approximately −0.06 for firms and −0.09 for workers. To put this effect in...

Land is a scarce resource; hence, efficient land management techniques are critical for its procurement and development. The land readjustment (LR) mechanism is one such land assembly tool, which many countries, including Japan, have adopted, and is known as the Town Planning Scheme (TP Scheme) in...

The city is a collective project that seeks to improve the general welfare of the population. Residential structuring agents have an inclination to get richer without reason. If collective actions that control and regulate this inclination are missing, the city becomes a powerful instrument to...

The owners of undeveloped urban land are often blamed for restricting housing supply and thereby driving up house prices in the face of increasing demand. This paper shows how greater intra-city variation in amenity values reduces competition between developers and makes delaying development...

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...

Urban structures and urban growth rates are highly persistent. This has far-reaching implications for the optimal size and timing of new construction. We prove that rational developers postpone construction not because prospects are gloomy, but because they are bright. The slow mean reversion in...