100% tevredenheidsgarantie Direct beschikbaar na betaling Zowel online als in PDF Je zit nergens aan vast
logo-home
Land and real estate markets lecture notes €6,00   In winkelwagen

College aantekeningen

Land and real estate markets lecture notes

 10 keer bekeken  0 keer verkocht

lecture notes whit aditional info from the slides, might have some minor grammer and spelling mistakes

Voorbeeld 3 van de 23  pagina's

  • 17 oktober 2024
  • 23
  • 2024/2025
  • College aantekeningen
  • Erwin van de krabben
  • Alle colleges
Alle documenten voor dit vak (5)
avatar-seller
samueldehaan
(Parayitam, 2005)Land and real estate
Markets Notes
Lecture 1 4-9-2024



Course organisation
Four main topics p
 Property rights and urban planning
Planning interventions
Dynamics of land and real estate markets
Land management strategies and value capturing
Planning studio
6-person groups
Group work , -> consultensy ferm -> com with a plan for a municipality -> feasibility study
(financial and other studies) -> report -> presentation
(look at bright space)
Elective course
Placemaking and spatial practices or tussen maatschappelijke m


Lecture
Housing crisis: Verry difficult for first time buyers
Insider outsider problem (parents could buy a house)
Most social housing in the world
Those who social rent housing (good houses, good prices)
No doorstroming (social housers can not move to the other markets (not enough money to buy ore
privet marked is sik).

Speed up housing production -> more houses -> prices will go down

Question marks: Do they build the right types of houses?
Larger houses make more money…
Compromise: (1/3 social rent, 1/3 social buy, 1/3 other)

Question raised by dutch competition authority:
- How competitive is housebuilding market? Will other take over if one fails?
- How to measure market concentration?
(elastic supply: if supply increase with 1% the prices will increase with 1%)
The dutch housing market is not elastic because: planning process, housing density, public prefer of
urban land transformation.

Difference in land value (dependent on the calculation do they pay for new roads trains etz. )

Urban land transformation area = more expansive than greenfield transformation area.

The dutch house building marked shortage is unic in similar countries there is a simmlar trents

,One solution to make more houses,-> develop more plans-> lager plan capacities
50% of soft plands is hart after 9 years

After planning it causes 2,5 year until first construction ( first 50 %) (because fighting the permit,
rising building cost, market conditions, are there other construction projects can household buy a
similar home somewhere else (market concentration)).

Netherlands unused building permits is similar to the Germany

How to define markets new homes?
In the issues of how to define a market
- New homes
- Existing homes
1/3 of population does not care, 1/3 of population want new homes, 1/3 of population want existing
homes.
What causes concentration; and what are the effects?
Geographical market
- Houses in region?
- Houses in a municipality?
- Houses in a country
Most of the Consumers are looking in a municipality

How to calculate market concentration?
In Hefindahl – Hirschaman index
Most of the Netherlands (most municipalities) highly concentrated marked. The developers of new
homes have high marked power.

Does high marked power have bad consequences? There is a correlation in delay of new plans with
concentrated markets.



L2
5-09-2024
How to adapt to climate risks? A lot of funding is needed, dutch are front runners.

Both plangin decision to change the land use and public infrastructure investments may lead to
substantial increase in land values.
Without any regulation that land value will go as a windfall forfit to landowners and developers

Public investment and government actions: for infrastructure of facilities like library or climate
change.

Local -> climate adaptation
National -> climate midigation

Plak pp..

Rual -> urban land -> landprice huge land value increase (400x more valuable)
Land value capture of urban landprice for climate action (or infra or whatever)

, There are correlations between property prices (or make it down to land value) and environmental
risk. This could be urban heat ilands floots air pollution etz.

Virtuous circle

The circle of were landvalue capture is possible
Vicious circle
The circle were not is capitalised on the increase of land value by other influences

Politic: like other collective goals where money can be spent.
Land base finance is a incentive to invest in more expensive homes -> gentrification
If nothing is build, there is no uplift in land values
Some dutch Cities lack effective regulation and capacity.

Ronald Coase: property rights theory
Public
Property economics
Conditions:
- Property rights must be defined clearly and transparent for eveeybody
- Transparency leads to a more efficient outcome.
- Transaction costs should be low
Example: co2 emission rights

If there would be no transaction cost in the economy and if propery rights would be assign in a
transparent way, then the solution of problems of social costs (negative externalities) would not be
problematic.

However
The assignment of propertyrights is almost never transparent
That is why markets must be regulated by institutions
Urban planning can be considered as one of these institutions


Elinor Ostrom
- “Free people can overcome the ‘Tragedy of the Commons’
- Create right institutional conditions to stimulate “self- organizing mechanisms”
- (Alternative to 1) government intervention or 2) marketization


Henry Goeorge
Single tax on land

Non-financial compensation: transfer development rights
New York: Air rights -> prevented park
The government took the air rights and compensated with development right of other aeras. New
marked was created without money incentive

Non-financial compensation: transferable development rights:

Voordelen van het kopen van samenvattingen bij Stuvia op een rij:

Verzekerd van kwaliteit door reviews

Verzekerd van kwaliteit door reviews

Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!

Snel en makkelijk kopen

Snel en makkelijk kopen

Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.

Focus op de essentie

Focus op de essentie

Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!

Veelgestelde vragen

Wat krijg ik als ik dit document koop?

Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.

Tevredenheidsgarantie: hoe werkt dat?

Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.

Van wie koop ik deze samenvatting?

Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper samueldehaan. Stuvia faciliteert de betaling aan de verkoper.

Zit ik meteen vast aan een abonnement?

Nee, je koopt alleen deze samenvatting voor €6,00. Je zit daarna nergens aan vast.

Is Stuvia te vertrouwen?

4,6 sterren op Google & Trustpilot (+1000 reviews)

Afgelopen 30 dagen zijn er 81113 samenvattingen verkocht

Opgericht in 2010, al 14 jaar dé plek om samenvattingen te kopen

Start met verkopen
€6,00
  • (0)
  Kopen