Abstract
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.
Highlights
When considering various types of land and built property, markets and planning regulations are both examples of institutions (BALL 1998; WEBSTER 2005; see KEOGH, D’ARCY 1999, 2000)
While extremely important problem areas in themselves, the present contribution is not constrained to these two traditions. It rather looks at real estate situations from a more general vantage point in order to offer a conceptual analysis of planning based influences – a debated category of institutions in this context
In built environment context, the relevant institutions comprise planning on one hand and property development on the other
Summary
When considering various types of land and built property, markets and planning regulations are both examples of institutions (BALL 1998; WEBSTER 2005; see KEOGH, D’ARCY 1999, 2000). The essence here is to capture the institutional circumstances when a given project begins As already noted, both planning and real estate markets can be seen as types of institution – the rules of the game – cultural, political and administrative (cf BUITELAAR, SEGEREN 2011). Both planning and real estate markets can be seen as types of institution – the rules of the game – cultural, political and administrative (cf BUITELAAR, SEGEREN 2011) These are, in general, understood as being of three types: conventions, norms and formally sanctioned rules.. While extremely important problem areas in themselves, the present contribution is not constrained to these two traditions It rather looks at real estate situations from a more general vantage point in order to offer a conceptual analysis of planning based influences – a debated category of institutions in this context. The organization of the study is as follows: section 2 deals with general institutions; section 3 with planning and property as institutions; section 4 with the impact of planning on property price and markets; and, section 5 draws conclusions
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
