Abstract
Financing measures and incentive schemes for (existing and new) building owners can promote the sustainable settlement development of rural regions or municipalities and, in a wider sense, entire countries or cross-border regions. In order to be used on a broad scale, the concept of revolving funds must continue to be further developed. In this research, the concept of an advanced revolving housing fund (ARF) for building owners to support the sustainable development of rural regions and potential mechanisms are introduced. The ARF is designed to reflect impacts and challenges with regard to rural regions in Germany, Europe and beyond. Based on New Institutional Economics, the Theory of Spatial Organisms, an expert workshop, interviews and discussions and further literature research, the fundamentals for incentive schemes and the essential mechanisms and design aspects of the ARF are derived. This includes the principal structure and governance of a holding fund and several regional funds. Based on this, input parameters for the financial modelling of an ARF are presented as well as guiding elements for empirical testing to promote more research in this area. It is found that the ARF should have a regional focus and must be a comprehensive instrument of settlement development with additional informal and formal measures. The developed concept promises new impulses, in particular, for rural regions. It is proposed to test the concept by means of case studies in pioneer regions of different countries.
Highlights
IntroductionDevelopment areas and the associated land use in greenfield developments have been the answer in many countries and regions to satisfy the demand for housing
This paper introduces the concept of an advanced revolving housing fund (ARF) for property owners to support the sustainable development of rural regions and describes potential mechanisms
In order to be able to deal with individual factors, which can vary from region to region, the ARF should not have a supra-regional orientation
Summary
Development areas and the associated land use in greenfield developments have been the answer in many countries and regions to satisfy the demand for housing. Many rural regions and municipalities face an oversupply of residential building areas, transformed cultural landscapes, vacancies and functionless centres or high burdens on municipal budgets due to development and follow-up costs. The low demand for standing properties in shrinking regions is already leading to a loss in asset values for owners. Rural regions are characterised by agricultural land use and low population density. Rural life is often associated with car dependency, a low supply of services and culture and a high level of social control [27]
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