The effect of developable land supply on land price

Les effets prix de l’offre foncière

Ghislain Geniaux (), Claude Napoleone () and Bertrand Leroux ()
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Ghislain Geniaux: ECODEVELOPPEMENT - Unité de recherche d'Écodéveloppement - INRA - Institut National de la Recherche Agronomique
Claude Napoleone: ECODEVELOPPEMENT - Unité de recherche d'Écodéveloppement - INRA - Institut National de la Recherche Agronomique
Bertrand Leroux: Centre d'Etudes Techniques de l'Equipement Méditerranée

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Abstract: Does land use zoning policy increases land prices by reducing developable land supply ? To answer this question, we propose an evaluation of the relationship between land supply and land prices in a French region. We propose a geomatic method to measure real developable land supply based on new generation of spatial land use micro-data (digitalized cadastral map, land and owner characteristics, land use zoning policies). To estimate the price effects of land supply, we use two alternative econometric evaluation methods: spatial hedonic model and quasi-natural experiments. We show that with both methodologies the estimated relationship is positive. Municipalities with higher corrected developable land supply exhibit higher land prices. The disequilibrium between supply and demand for developable land is so high in Provence-Alpes-Côte d'Azur that municipalities who increase the supply of land through new developable zones (without coordination with neighboring municipalities) face an increase of land prices.

Keywords: Evaluation contrefactuelle des effets des zonages; Offre foncière; Prix fonciers; Zonage d’urbanisme; Approche hédonique spatiale (search for similar items in EconPapers)
Date: 2013
Note: View the original document on HAL open archive server: https://hal.inrae.fr/hal-02803913v1
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Published in [0] 2013, 28 p

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