Land Valuation Sustainable Model of Urban Planning Development: A Case Study in Badajoz, Spain

José Maria Codosero Rodas, José Manuel Naranjo Gómez, Rui Alexandre Castanho and José Cabezas
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José Maria Codosero Rodas: Environmental Resources Analysis Research Group (ARAM), University of Extremadura, 06006 Badajoz, Spain
José Manuel Naranjo Gómez: VALORIZA—Research Centre for Endogenous Resource Valorization, 7300-110 Portalegre, Portugal
Rui Alexandre Castanho: Environmental Resources Analysis Research Group (ARAM), University of Extremadura, 06006 Badajoz, Spain
José Cabezas: Environmental Resources Analysis Research Group (ARAM), University of Extremadura, 06006 Badajoz, Spain

Sustainability, 2018, vol. 10, issue 5, 1-18

Abstract: The urban planning development process in urban territories has multiple consequences, not only in spatial structure but also in land valuation patterns. The economic value of land encompassed in municipal planning—which is associated with a certain urbanized use—increases as the planning processes evolve over these lands. For economic land valuation to comply with the required parameters of urban and territorial sustainable development, it is pivotal that in the determination of land value there are no expectations of difficult or impossible realizations, in order to eliminate any speculative element from the valuation. The land valuation model presented in the current study complies with this premise, proposing a sustainable land valuation model based on the evolution of urban planning development, achieving maximum value when it is fully urbanized. The main objective of the present work is to analyze how land value increases as municipal planning develops and to suggest a sustainable valuation model for land with urban use. Contextually, through a case study analysis, the development of municipal planning has been divided over time into four urban states: (i) land without detailed planning; (ii) land with detailed planning; (iii) land with re-parceling; and (iv) urbanized land. In this regard, the gradual evolution of land value which has reached different states over time has been determined, as has scenarios where the value has increased up to the value of urbanized land.

Keywords: free cash flow (FCF); land value; land uses; Sustainable Planning; Valuating Models (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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