The Patterns and Mechanisms of Land Price Divergence in Multiple Industries from the Perspective of Element Flows: The Case of the Yangtze River Delta, China

Shuyun Hu, Dazhuan Ge, Guojian Hu, Jingwen Sun, Yingyi Ma, Mengqiu Lu and Yuqi Lu
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Shuyun Hu: School of Geography, Nanjing Normal University, Nanjing 210023, China
Dazhuan Ge: School of Geography, Nanjing Normal University, Nanjing 210023, China
Guojian Hu: School of Geography, Nanjing Normal University, Nanjing 210023, China
Jingwen Sun: School of Geography, Nanjing Normal University, Nanjing 210023, China
Yingyi Ma: School of Architectural Engineering, Jinling Institute of Technology, Nanjing 211169, China
Mengqiu Lu: School of International Economics and Trade, Nanjing University of Finance and Economics, Nanjing 210023, China
Yuqi Lu: School of Geography, Nanjing Normal University, Nanjing 210023, China

Land, 2022, vol. 11, issue 2, 1-24

Abstract: An in-depth exploration of the inner mechanisms of the spatio-temporal evolution of land prices in multiple industries (residential, commercial service and industrial) is of great significance for improving the overall economic development efficiency and resource allocation capacity of the region. Based on urban land price transaction data provided by the China Land Market Network, 307 county-level units in the Yangtze River Delta were used as the study area and spatial auto-correlation and spatio-temporal hotspot analysis were used to explore the spatial variation and temporal changes of land prices in multiple industries in the Yangtze River Delta from 2008 to 2018. The three-dimensional driving theory of land “demand + supply + market” was used as the basis to construct the index system of influential factors and the Spatial Durbin Model was used to explore the mechanism of the spatio-temporal variation of land prices in multiple industries. The results show that the land prices of multiple industries in the Yangtze River Delta are generally high in the east and low in the west and high in the south and low in the north, which is spatially consistent with the level of regional economic development. Due to the disparity in economic development between the regions, factors such as population, capital, technology and information are redistributed and fed into each other’s cycles between cities. The resulting spatial differences in land market supply and demand are intrinsic to the spatial differentiation of urban land prices. It is further proposed that land prices are a monetized expression of the abundance of resources in a city and that land prices are determined by the combined ability of regional resource factors to be allocated. Thus, land price differentiation reflects differences in the level of comprehensive regional development. Finally, the dynamic interaction of various factors on land values is used to promote the division of urban functions and regional economic development, which is an effective way to promote high-quality integrated regional development.

Keywords: spatial structure of land prices; land price of multiple industries; spatial and temporal differentiation; influencing factors; Yangtze River Delta; counties (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2022
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