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The evolution of land values in the context of rapid urban growth : a case study of Bogota and Cali (English)

The influence of rapid urban growth upon land values in two Colombian cities is examined. Land values have responded to the rapid growth of these cities much as they might be expected to in a market economy. Growth in land values has been greatest in the periphery of these cities and least at the center. Furthermore, land values in poor areas have increased as fast as land values in rich areas. These results are somewhat surprising in the presence of a widespread impression in Colombia, as in other developing countries, that land prices in cities have been growing at undesirably high and unwarranted rates. Furthermore, urban land is probably one of the few assets to which the poor have relatively better access. Thus, if access to shelter for the poor is an important policy concern, policy measures should address such access directly. Rather than hindering rising land prices, policy should be directed at providing subsidized or free access to land in the form of a squatters rights policy.

Details

  • Author

    Mohan, R. Villamizar, R.

  • Document Date

    1984/01/01

  • Document Type

    Journal Article

  • Report Number

    REP293

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Colombia,

  • Region

    Latin America & Caribbean,

  • Disclosure Date

    2010/07/01

  • Doc Name

    The evolution of land values in the context of rapid urban growth : a case study of Bogota and Cali

  • Keywords

    determination of land value;price of land;consumer price index;urban land value;urban land market;factor of production;Population Density;high population density;central business district;land price;exchange rate policy;Exchange rate policies;labor market discrimination;urban land policy;parcel of land;rate of growth;quality of infrastructure;trade adjustment;substitution in production;rapid urban growth;process of decentralization;conventional economic theory;concentration of people;agricultural land value;world war i;land price index;residential density;central city;residential population;urban economy;simple model;windfall gain;urban structure;living space;tall building;opportunity cost;Real estate;land area;transportation cost;energy policies;population data;land parcel;market system;employment opportunities;prices increase;commercial center;employment opportunity;small cities;infrastructure provision;high concentration;exponential functions;manufacturing technology;urban model;suburban population;energy crisis;natural result;economic model;good road;Exchange Rates;land valuation;property value;vacant land;new house;average age;price level;single-family house;household income;urban corridor;street system;substitute capital;infrastructure quality;high transportation;price system;academic achievement;outward orientation;Public Services;wage differential;public economics;aggregate land;average price;housing service;homogeneous commodity;discount rate;expected return;undeveloped land;negative externality;Urban Transit;rational allocation;peripheral area;city area;average distance;water source;unrealistic assumption;urban context;wage determination;old cities;resident worker;land use;industrial zone;manufacturing jobs;commercial policy;ordinary asset;human settlement;national action;important component;land policies;observed value;internal structure;Learning and Innovation Credit;monopoly power;urban production;public welfare;survey data;household welfare;positive externality;conceptual basis;Political Economy;demand management;

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Citation

Mohan, R. Villamizar, R.

The evolution of land values in the context of rapid urban growth : a case study of Bogota and Cali (English). World Bank reprint series ; no. REP 293 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/163651468746689602/The-evolution-of-land-values-in-the-context-of-rapid-urban-growth-a-case-study-of-Bogota-and-Cali