Abstract
An in-depth exploration of the inner mechanisms of the spatio-temporal evolution of land prices in multiple industries (residential, commercial service and industrial) is of great significance for improving the overall economic development efficiency and resource allocation capacity of the region. Based on urban land price transaction data provided by the China Land Market Network, 307 county-level units in the Yangtze River Delta were used as the study area and spatial auto-correlation and spatio-temporal hotspot analysis were used to explore the spatial variation and temporal changes of land prices in multiple industries in the Yangtze River Delta from 2008 to 2018. The three-dimensional driving theory of land “demand + supply + market” was used as the basis to construct the index system of influential factors and the Spatial Durbin Model was used to explore the mechanism of the spatio-temporal variation of land prices in multiple industries. The results show that the land prices of multiple industries in the Yangtze River Delta are generally high in the east and low in the west and high in the south and low in the north, which is spatially consistent with the level of regional economic development. Due to the disparity in economic development between the regions, factors such as population, capital, technology and information are redistributed and fed into each other’s cycles between cities. The resulting spatial differences in land market supply and demand are intrinsic to the spatial differentiation of urban land prices. It is further proposed that land prices are a monetized expression of the abundance of resources in a city and that land prices are determined by the combined ability of regional resource factors to be allocated. Thus, land price differentiation reflects differences in the level of comprehensive regional development. Finally, the dynamic interaction of various factors on land values is used to promote the division of urban functions and regional economic development, which is an effective way to promote high-quality integrated regional development.
Highlights
IntroductionGiven the continuous promotion of urbanization in China, land, which is one of the basic factors in industrial production, residential life and commercial activities in cities and towns [1], carries different functions in the operation of urban systems
Land has multiple attributes and can be a resource, an asset or a form of capital
Considering the spatial heterogeneity and non-stationarity of land prices, the influencing factors of residential land price divergence in Yangtze River Delta regions and counties were measured by spatial panel regression models to explore the intrinsic correlation and reciprocal feedbacks of spatial divergence of land prices in the integration region under the multiple influences of economy, population, policies and markets in the context of accelerated regional resource factor flow
Summary
Given the continuous promotion of urbanization in China, land, which is one of the basic factors in industrial production, residential life and commercial activities in cities and towns [1], carries different functions in the operation of urban systems. Land prices provide an important basis for the industrial layout and functional positioning of cities in urban clusters of different development types, but they relate to the implementation of China’s regional planning and development strategies [3]. It plays a pivotal role in promoting socio-economic development and transformation. Due to the complex formation and influencing factors of land prices, it is difficult to regulate land market prices solely by means of supply in China’s current non-fully competitive land market system, resource characteristics and macroeconomic context
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