Institutions at the Interface of Urban Planning and Real Estate

Kauko Tom ()
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Kauko Tom: Independent scholar, Budapest, Hungary

Real Estate Management and Valuation, 2019, vol. 27, issue 3, 17-30

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.

Keywords: institutions; planning; property markets; property prices; real estate (search for similar items in EconPapers)
JEL-codes: R30 R31 R33 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:remava:v:27:y:2019:i:3:p:17-30:n:2

DOI: 10.2478/remav-2019-0022

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