Urban Land Markets

Abstract

Urban land markets play an important regulatory and development function in the efficient and effective access, use and sustainable management of land and property markets. Efficient commodification of urban land markets underpins inclusive and progressive urban human settlement functioning. However, inefficient urban land markets perpetrate suboptimal land and property market shifts and changes that encourage speculation, landholding, fragmentation and splintering of urban land markets, whether for commercial, industrial, residential or recreational purposes. This chapter makes use of the complex dynamic systems approach to unpack the narrative of urban land markets and performance in Zimbabwe from 1990 to 2020. The lessons from the review act as a benchmark for infusing new insights on how postcolonial Zimbabwe can utilise both formal and informal urban land markets in transforming and transitioning towards sustainable human settlements. The results indicate how formal and informal urban land markets can be managed towards sustainable human settlements. Furthermore, the chapter illustrates and advances urban land market transitions and an innovative framework that explains how the contemporary urban land market forces of demand and supply interact in Zimbabwe. The way the current land market struggle is unfolding in Zimbabwe is reflected by the emergence of new housing standards, products, technologies, formats and geographical areas.