Increasing Land Values Research Articles

Disentangling the Effect of Housing on Household Stock Holdings: Evidence from Japanese Micro Data

Using Japanese household micro survey data during 2000-2015, this paper examines the effects of housing on household stock holdings. To disentangle the effect of housing asset (land value) and mortgage debt on households’ portfolio share of stocks out of liquid financial assets, we apply the instrumental variable approach by Chetty et al. (2017) that employs differences in average land price indices across housing markets in the year in which household portfolios are measured and those in the year in which the house was purchased. Our estimates suggest that an exogenous increase in land value (holding mortgage debt constant) increases the portfolio share of stocks, while an increase in mortgage debt (holding land value constant) reduces it. We also find that an increase in land value and mortgage debt (holding home equity constant) does not affect the portfolio share of stocks, but increases the repayment of mortgage debt.

Building Rejuvenation Approach Through Revitalization, Rehabilitation and Redevelopment - Case of Vertical Housing in Jakarta

Jakarta, as the center of government, trading, business, and industry becomes the main destination for many migrants to find jobs. This results in the massive population increase in Jakarta every year while the urban area availability has contrast proportion with the needs of housing area. The limited urban area, as well as the increase of land value, is not possible to build new housing area in the city center. The solution of this problem is rejuvenation of the buildings that have already existed. In this case, the writers carry the rejuvenation case of the vertical housing in Kebon Kacang XI that is close to the age limit of the building and has looked slum thus created visibility gap between the vertical housing and the other housing areas and could get the gentrification results. Besides, Kebon Kacang XI vertical housing is located in the center of Jakarta and has increasing BCR so that it is able to maximize the unit of building capacity to fulfill the needs of affordable houses in the city. The aims of this paper are to find out and to compare three different forms of rejuvenation as the solution of housing area provision for the low-income people in the city center through revitalization, rehabilitation, and redevelopment approach.

Differential effects of land value taxation

This paper makes the first attempt to empirically examine the effect of site value taxation on the value of land and explore the differential effects across various types of land use. Using municipality-level panel data, the study shows that raising the tax rate on land while lowering the tax rate on buildings leads to an increase in land value per acre. Further, this impact differs between residential land and commercial and industrial land. Residential land appears to be more responsive to changes in the tax differential than commercial and industrial land. The paper contributes to the literature on land value taxation by testing important theories that have never been tested before and offering the first empirical evidence on the impact of site value taxation on land value.

Park isolation in anthropogenic landscapes: land change and livelihoods at park boundaries in the African Albertine Rift

Landscapes are changing rapidly in regions where rural people live adjacent to protected parks and reserves. This is the case in highland East Africa, where many parks are increasingly isolated in a matrix of small farms and settlements. In this review, we synthesize published findings and extant data sources to assess the processes and outcomes of park isolation, with a regional focus on people’s livelihoods at park boundaries in the Ugandan Albertine Rift. The region maintains exceptionally high rural population density and growth and is classified as a global biodiversity hotspot. In addition to the impacts of increasing numbers of people, our synthesis highlights compounding factors—changing climate, increasing land value and variable tenure, and declining farm yields—that accelerate effects of population growth on park isolation and widespread landscape change. Unpacking these processes at the regional scale identifies outcomes of isolation in the unprotected landscape—high frequency of human-wildlife conflict, potential for zoonotic disease transmission, land and resource competition, and declining wildlife populations in forest fragments. We recommend a strategy for the management of isolated parks that includes augmenting outreach by park authorities and supporting community needs in the human landscape, for example through healthcare services, while also maintaining hard park boundaries through traditional protectionism. Even in cases where conservation refers to biodiversity in isolated parks, landscape strategies must include an understanding of the local livelihood context in order to ensure long-term sustainable biodiversity protection.

Planning and Financing Services in the City Through Land Value Capture Instruments the Case of Tirana New Bazar

Objective: This paper comes as a contribution to the discussion happening in Albania related to limited funding sources for providing urban services, especially at the city level. It aims to bring some ideas on how to finance the new services that the Albanian cities need outside general budgets, or avoiding the accumulation of additional debt for local governments (LGs). Methodology: The approach suggested in the paper is to first identify the beneficiaries of any proposed improvement in providing both facilities and services, and then explore methods, which can involve the direct beneficiaries paying for their part of the benefits. The paper focuses on analyzing and reflecting upon the experience of the Municipality of Tirana for building up/refurbishing the city new bazar, and uses this as a case study to discuss on potential financing of facilities and urban services through land value capture gains, and relevant social implications in the Albanian society. Results: A value based property tax should be introduced first in Albania, not only as the instrument that can guarantee real local autonomy, but also as a precondition for applying other land value capture instruments. To mention some of the most applied ones that could also be explored in the broad Albanian context: betterment charges/fees; tax on the increment on the value of land; inclusionary housing, land assembling and land readjusting, and tradable development rights. For all of them, a substantial revision in the fiscal/public finances legislation is needed in Albania, given the fact that the relevant planning and development of territory legislation has already introduced such instruments. But above all, and what is most important, the social implications of the proposed instruments should be further researched and addressed through appropriate regulations and processes. Conclusion: Through this paper I try to demonstrate the implications of planning and financing services in the cities through land value capture instruments in the context of Albanian cities and society. Being that investments on urban services and facilities are accompanied by increases in land value, it has the features for recovering the capital costs of urban investment, by capturing some or all of the “unearned” increment in land value resulting from the investment. To accomplish this, ‘novel’ financing mechanisms should be used – such as land value capture instruments (betterment fees, special taxes, development agreements, etc.), but their implications in terms of improving the social fabric in the cities should be considered.

Analysis of Principles and Practice of APLUC in Anambra State, Nigeria

Land taxation is any levy that is land -based. Land based taxes abound in Anambra State and they include: Companies income and Personal income Tax, Value Added Tax, Capital Gains Tax, Capital Transfer Tax, Stamp Duties and recently the Land Use Charges. In an ideal situation, land –taxes actas tool to manage land use, urban density and expansion, discourage speculative transactions and encourage sustainable development. This study analyzed Anambra State land –based taxes with a view to ascertaining the principles and objectives behind them. The paper identified various land – based taxes and in order to determine the principle and practice behind them. The study adopted a survey design to generate data from respondents(landlord and tenants).To examine the principles and practice of land based taxes in Anambra State, questionnaires were administered on Estate surveyors and Tax Assessors. They were entreated to give their views on property rate practice and Land use charge law in Anambra State. A percentage of their responses to the questions were taken to measure the weight of their views. They opined that for a land based tax to be progressive, equity and fairness should be emphasized as the major objective and not just revenue as seen in the land –based taxation in Anambra State. They were also of the view that increased land values which an owner enjoys are not due to his efforts but that of government as supported by public funds and a good tax system should amongst all seek to redistribute this wealth by upholding the principle of equity and fairness, together with other principles.

A Journey through the History: Introduction to Heritage Tourism and Tourist Trails for the Renewal of Old Dhaka

Dhaka, the one of the megacities in the world have been facing the pressure of new development and redevelopment due to rapid socio-economic development. Like the other part of the city in old Dhaka, this urban renewal is misunderstood as the process of demolition-reconstruction of old buildings and historical sites. Change in land use pattern, land scarcity, increased land value, lack of mature theoretical guidance and the awareness of preservation the old part of the city is losing its identity. This kind of development not only affecting the city fabric but also destroying the vernacular built environment, cultural values and collective memory of habitants. Introduction of heritage tourism and development of tourist trails in different part of the old city may become an effective and sustainable measure to protect the heritage sites and old fabric of the city. Heritage tourism not only has a positive effect on economic development activities but it also promotes and protects the intangible heritage resources. The study tries to explore some different ways in which tourist trail and heritage tourism can be developed in old Dhaka. Additional emphasis will placed on investigating how tourism can be used to promote awareness among local communities and the importance of assuring a balance between responsible tourism and the preservation and protection required for heritage sites.

Increase in Land Value due to Spatial Transformation in the Northern Part of the Bandung – Cimahi Peri-urban Region

The increase in density and urban activity has led to spatial expansion towards the urban periphery. Peri-urban areas that originally were rural areas, gradually turn into typical urban settlement areas. This transformation is followed by an increase in economic land value which is characterized by an increase in land price. This study examines the meaning of the increase in economic land value for the government as an effect of the spatial transformation in the periphery area of Bandung City and the northern part of Cimahi. This study uses quantitative-qualitative mixed methods. Primary data was obtained through interviews with informants from local communities, and secondary data was obtained from a former study on this area and Land and Building Tax documentation (PBB). For the government, economic land value specifically will be reviewed using the Land-Tax Object Sales Value (NJOP Tanah), and then compared with the increase in market price of land. The study results show that the increase of land price due to the spatial transformation in the Gunung Batu Dalam area was not in line with the increase in land value for local governments. The increase in land prices determined by market forces becomes a potential loss of revenue for local governments. Therefore, the government needs to control the increase in land prices. If not, then the government should immediately adjust the Land-Tax Object Sales Value to represent the economic land value of peri-urban areas.Keywords. land value, spatial transformation, peri-urban area, Gunung Batu Dalam area.Abstrak. Peningkatan kepadatan dan aktivitas urban telah menyebabkan terjadinya perubahan spasial ke arah periferi kota. Wilayah peri-urban yang sebelumnya daerah perdesaan, lambat laun berubah menjadi wilayah permukiman khas perkotaan. Perubahan fungsi tersebut berdampak pada peningkatan nilai ekonomi lahan. Studi ini mengkaji makna peningkatan nilai ekonomi lahan bagi pemerintah sebagai dampak proses transformasi lahan pada salah satu kawasan periferi Kota Bandung-Cimahi bagian utara. Penelitian ini menggunakan pendekatan kuantitatif-kualitatif. Data primer diperoleh melalui metoda wawancara dengan informan dari komunitas lokal, dan data sekunder diperoleh dari penelitian yang pernah dilakukan sebelumnya terhadap kawasan ini serta dokumentasi Pajak Bumi dan Bangunan (PBB). Hasil penelitian menunjukkan bahwa peningkatan harga lahan akibat transformasi spasial di Kawasan Gunung Batu Dalam tidak berbanding lurus dengan peningkatan nilai lahan bagi pemerintah daerah. Peningkatan harga lahan yang ditentukan oleh mekanisme pasar, justru menjadi celah potensi kehilangan pendapatan bagi pemerintah daerah. Untuk itu, pemerintah perlu mengontrol peningkatan harga tanah. Jika tidak, maka pemerintah perlu segera menyesuaikan Nilai Jual Objek Pajak (NJOP) Tanah agar secara reprsentatif dapat mewakili nilai ekonomi lahan kawasan peri-urban. Kata kunci. Nilai lahan, transformasi spasial, wilayah peri-urban, Kawasan Gunung Batu Dalam

A financing mode of Urban Rail transit based on land value capture: A case study in Wuhan City

While urban rail transit has gained increasing popularity, there are still many problems related to obtaining financial resources for constructing it in China. It is proved that the Land Value Capture (LVC) theory can provide theoretical support for exploring new financing mode of urban rail transit to solve these problems. This paper reviews the concept of LVC and the existing LVC finance mechanisms, in particular, Joint Development (JD). It is revealed that JD can’t be directly copied and reproduced in mainland China. The characteristics of land acquisition policy as well as the practice of rail transit construction in mainland China are summarized, and based on the findings, the Predetermined Land Reserve Mode (PLR) is proposed. The essence of this proposed mode is to link the reserve of specific land parcels with the relevant rail transit project and ensure it benefits from the predetermined land reserve. Rail transit companies, with the authorizations from the government, can reserve suitable land parcels prior to the planning and construction of the rail transit system so that they can capture the increased land value after the land transfer. PLR is a new finance mechanism based on LVC and it is different from JD under comparative analysis. Analytical results show that PLR has unique advantages. To demonstrate the performance of PLR, a case study of constructing the urban rail transit system in Wuhan City, China, is presented in this paper, and it shows that the PLR is well suited for financing the urban railway systems in cities of mainland China.

Compound growth and land: what are the implications for planning?

IntroductionThe significant property price rises seen in the UK since the mid-1990s are part of a wider global trend, and whilst the issue is frequently presented as one of house price rises the explanation for the phenomenon lies largely in increasing land values. Land values are rising across both urban and rural land in many parts of the world. In a recent study, Knoll et al. (2014) examined house price rises in fourteen advanced economies since 1870. They found that real house prices stayed constant from the nineteenth to the mid-twentieth century, but rose distinctly during the second half of the twentieth century, and particularly since the 1980s. Their analysis suggests that rising land values explain around 80 per cent of the house price rises which were witnessed in those countries during this period, in contrast to other possible explanatory factors, such as materials and labour costs. Rural land has also seen significant rises. For example, the Royal Institute of Chartered Surveyors (RICS) reported in August 2016 that between 2004 and 2015 pasture land prices in England and Wales tripled (AHDB, 2016). The concern of this Viewpoint is with the potential implications of this trend for planners in the immediate context, and also for the planning profession as a whole into the future.Speculating about speculationIn his recent contributions to the intellectual discourse, David Harvey has suggested why these significant land value rises may be occurring. In considering the growth of the world economy since industrialisation, Harvey notes that a number of economic historians, whilst not aligning precisely on their estimations of the figures for size and growth rate, do indicate that the global economy has shown signs of having historically grown at a compound rate (Maddison 2007 quoted in Harvey 2014). In contrast to a linear rate of growth, under the conditions of compound growth the overall size of economic output initially increases at insignificant increments, but at a certain point rises more rapidly, from which it then rises at an increasing rate. It is suggested by Harvey (2014) that the 1970s was a key inflection point, at which growth began particularly to accelerate.From his characteristic position interpreting Marx's writings, Harvey suggests that within a system of capitalism there is a continual requirement for reinvestment opportunities (in Marxian terms, the 'absorption of capital surplus'). Without these opportunities a capitalist system cannot function. In order to make a reasonable return on these investments the owners of capital require the overall economy to be growing. Harvey suggests that the commonly accepted rate at which an economy is required to grow in order for most capitalists to make a reasonable profit on their investments is around 3 per cent (the target rate for economic growth endorsed by the financial press). A key implication is that, under the conditions of compound growth, the requirement for surplus absorption also reflects this growth rate. Therefore, since the 1970s, at the level of the world economy there has been a continuingly increasing requirement for capital investment opportunities in order for capitalists to make a suitable profit and for the overall system to be maintained. The implications of this are spelt out by Harvey:To keep a satisfactory growth rate right now would mean finding profitable investment opportunities for an extra nearly $2 trillion compared to the 'mere' $6 billion that was needed in 1970. By the time 2030 rolls around, when estimates suggest the global economy could be more than $96 trillion, profitable investment opportunities of close to $3 trillion will be needed. Thereafter the numbers become astronomical. (2014, 228)The accelerating requirement for investment opportunities since the 1970s has been supported by the various neoliberal state projects the world over. Indeed, Harvey argues that the privatisation of state assets and 'enclosure' of a range of formerly common goods (such as water and other utilities) have played a significant role in opening up opportunities for the absorption of capital surplus. …

Transforming the economic value of hillside housing—A case study of Seoul, South Korea

This study examines transforming real estate value of urban hillside for residential developments, drawing on two-fold panel analyses: a random-effect panel modeling and a growth-curve panel modeling, in Seoul, South Korea from 1990 to 2015. The results reveal the reduced gap between the land values in hillside and low-lying residential sites as moving toward 2015, evidenced by the rapidly growing rate of increase of land value in the former, whereby the parabolic curvature of the land value trajectory increased from 0.00152 to 0.00156, compared to that of the latter, whereby the equivalent to that decreased from 0.00224 to 0.00214. The results also suggest that the negative effect of higher elevation has decreased to approximately zero (−0.625% per 10-m increment) and projected to turn positive, in hillside residential sites, while the equivalent to that in the low-lying residential sites has been exacerbated (−3.786% per 10-m increment). By helping the understanding of the past, current and future hillside housing development—how the hillside sites have been and will be reevaluated by passage of time, this study will provide practical lessons in planning urban housing and natural amenity resources.

South Eastern Busway Network in Brisbane, Australia: Value of the Network Effect

This paper identifies how much was added to residential land values through the provision of bus rapid transit (BRT) service in Brisbane, Queensland, Australia, with regard to increases in land values because of the BRT system itself and the value of the network effect as a result of incremental additions to the transport infrastructure, a much more common feature of Australian cities. Difference-in-differences models were employed to explore whether there were significant differences between the treatment group (properties close to busway stations) and the control group (properties not close to busway stations) with regard to housing price changes (first difference) before and after the opening of busway stations (second difference). Two types of control groups were defined by using conventional buffer methods and propensity score matching. Model results show increases in property prices because of better accessibility to busways themselves, on the one hand, and on the other hand, additions to the value of land through the network effect of access to a greater service area as the BRT network is developed. The paper reports how different methods of identifying control areas to match given treatment areas had different results and discusses the implications of these results for a literature that has a variety of methods established for research.

Stakeholder Deliberation on Developing Affordable Housing Strategies: Towards Inclusive and Sustainable Transit-Oriented Developments

Transit-oriented developments (TODs) are commanding high land and rental values due to improved accessibility and economic opportunities. Owing to the increase in land and rental values, the highly desirable TODs are gradually becoming inaccessible to the poor, creating social exclusion and housing inequities within the TODs. To address this consequence, the study proposes a three-level stakeholder deliberation framework (inform, involve, and collaborate) towards developing inclusive housing strategies for equitable and sustainable TODs. The framework is applied to the context of the Yeshwanthpur industrial area, Bengaluru, India. The first level of deliberation, ‘information’, foregrounds the need for affordable housing strategies for stakeholders. In the second level of deliberation, the stakeholders involved identify the major challenges in incorporating affordable housing into TODs. In the third level of deliberation, stakeholders collaborate to contemplate strategies to combat each challenge. The results show that mandatory inclusionary zoning, special-purpose planning vehicles, land banking entities, innovative financing tools, and local area level plans in collaboration with the community, emerged as potentially feasible strategies to create inclusive housing outcomes in the TOD case study area.

Downtown revitalization and urban space: A case study in downtown Bryan, Texas

Many cities worldwide are making efforts to revitalize their downtowns. However, limited attention seems to be given to the evaluation of these redevelopment processes. The objective of this paper is to analyze the main impacts of downtown revitalization on urban spatial structure. Our case study is Bryan and College Station, two small-cities comprising a continuous urban area in central-east Texas, and we focus on downtown Bryan revitalization process. The evaluation is addressed from socio-economic and spatial perspectives, and the methodology is based on a comparative analysis of some key indicators. The performance of the indicators is compared in time (before and after the beginning of revitalization efforts) and also in different spatial scales. The results show an increase in land values, reversing the depreciation of downtown properties; however the effects on population and local economic activity indicators showed mixed results. After 15years of efforts, downtown Bryan is undergoing a process of recovering its centrality but the resulting development pattern is spatially uneven until now. The paper ends with some recommendations regarding the evaluation of the revitalization efforts.

Reclaiming localisation for revitalising agriculture: A case study of peri-urban agricultural change in Gothenburg, Sweden

Agriculture near urban landscapes has recently been re-appreciated with the recognition of its economic, social and environmental contributions. However, rapid urbanisation and global agricultural restructuring constituting complex processes across multiple scales tend to threaten the survival of peri-urban agriculture. Focusing on family farms near Gothenburg in Sweden, this paper intends to explore the relations between location and agriculture and how family farms have been able to continue farming in peri-urban areas. Unlike previous studies of peri-urban agriculture, mostly carried out by planners from an urban-centric perspective, this paper deploys a rural and place-based perspective by drawing on theories of agricultural location. Based on statistical and spatial analyses of land use change, and interviews with farmers and authorities, the processes and drivers of local agricultural change are analysed. The results identify four simultaneous processes that produce the diversity in forms of agriculture between farms: structural changes, loss of farmland to urban expansion, specialisation of on-farm activities and a niching trend of on-farm activities. The new findings which shed light on the theory of agricultural localisation are: 1) niche production greatly takes advantage of the peri-urban location; 2) a reverse von Thünen's transportation pattern is enabled by the proximity to urban consumers; 3) enhancing competitive advantage through saving labour costs is enabled by the direct relation to consumers at the peri-urban location; 4) multifunctional agriculture has potential but also raises conflicts between different types of land use in peri-urban areas; 5) a secured access to land for farmers enabled by the local governance which separates the increasing land value from land rent is fundamental for supporting continued peri-urban agriculture. Our recommendation is that policy makers need to shift to a location-sensitive governing praxis of agriculture in order to re-vitalise peri-urban areas.

A private rental sector paradox: unpacking the effects of urban restructuring on housing market dynamics

The private rental sector (PRS) is growing in many advanced economies due to declining home ownership and retrenchment in social housing. This paper examines changes in the PRS in the context of housing market change and ongoing urbanisation processes. Using the example of Australia, it identifies a paradox when examining detailed changes in PRS composition between 1996 and 2011. Increasing demand from higher and lower income households has occurred alongside increasing concentration of supply in mid-market segments. The paper discusses possible explanations of this mismatch. It suggests that middle/higher income households rent through a mixture of constraint and choice in areas with a high level of amenity, adding to understanding of gentrification of inner-city areas. Urban restructuring, evident in increased land values in inner areas of large cities, has resulted in limited ‘filtering down’ of older housing into low-rent private rental stock and a concentration of investment in supply in mid-market segments with greatest prospects for resale and rental.

What Lies Beneath? Aquifer Heterogeneity and the Economics of Groundwater Management

AbstractThis paper examines the distribution of economic benefits from groundwater management as a consequence of underlying aquifer characteristics. The portions of an aquifer where water moves rapidly, those with high hydraulic conductivity, as well as those that receive less yearly recharge, face a more costly common-pool problem and therefore receive higher benefits from management. The introduction of management districts in Kansas is used to test the effect of underlying aquifer characteristics on changes in agricultural land value, farm size, and crop choice. A landowner in a county with hydraulic conductivity one standard deviation higher sees a relative land value increase of 5%–8% when management is implemented. Counties with lower recharge also see relative increases in land value. Changes in farm size and percentage of cropland in corn are also consistent with the proposition that the effect of management is unequal and depends on properties of the physical system.

Residential property value impacts of proximity to transport infrastructure: An investigation of bus rapid transit and heavy rail networks in Brisbane, Australia

Public transport investment is normally targeted at increasing accessibility which land rent theory identifies and will in turn increase land values. There is a clear policy interest in how much land values increase following a new transport investment so as to establish if there is sufficient land value uplift to capture and to help pay or contribute to investment plans. Identifying an uplift for residential land has been well studied in the context of new light rail systems and bus rapid transit (BRT) systems in developing countries but there is little evidence for BRT in developed countries.This paper has two objectives. First, to examine long term impact of BRT in a developed world context in Brisbane, Australia. Brisbane's BRT uses an open system design which contrasts with the closed system design of the successful BRT systems in South America and elsewhere, including the BRT in the suburbs of Sydney, Australia. Second, BRT in Brisbane was introduced to a network already dominated by a radial heavy rail network and this investigation recognises that the uplift from BRT introduction may therefore be different to a BRT in a single mode city. A third motivation is to consider the spatial distribution of uplift which is an essential pre-requisite to understanding the distributional impact if uplift is used to contribute to infrastructure provision.Spatial modelling is used to examine the accessibility impacts of the BRT at a global level. This is followed by Geographical Weighted Regression, used to examine the spatial distribution of accessibility using a local model.The results show that there is greater uplift in Brisbane, as compared to that identified by studies of Sydney's BRT which is likely due to the greater network coverage of BRT in Brisbane and less strong competition of rail. Land value uplift is also spatially distributed over the network giving higher uplift in some areas than others and lower values than typically found with rail based systems in developed countries. However, the degree of uplift is relatively low, with proximity to BRT stations attracting more uplift than proximity to train stations.

Clean money, dirty system: Connected landowners capture beneficial land rezoning

We use a unique regulatory event that occurred in Queensland, Australia, from 2007 to 2012, to examine the predictive power of landowner relationship networks and lobbying behaviour on successfully gaining value-enhancing rezoning. A State authority, the Urban Land Development Authority (ULDA), took planning control away from local councils in selected areas in order to increase the speed and scale of development in those areas, in the process increasing land values. Using micro-level relationship data from multiple sources, we compare the relationship-network characteristics of landowners of comparable sites inside and outside the ULDA areas, finding that ‘connected’ landowners owned 75% of land inside the rezoned areas, and only 12% outside, capturing $410 million in land value gains out of the total $710 million from rezoning. We also find that engaging a professional lobbyist is a substitute for having one’s own connections. Scaling up from our sample of six rezoned areas to the hundreds of rezoning decisions across Queensland and Australia in the last few decades, suggests that many billions of dollars of economic rent are being regularly transferred from the general population to connected landowners through political rezoning decisions.

The real estate turn in policy and planning: Land monetization and the political economy of peri-urbanization in Asia

This paper argues that one of the fundamental forces shaping contemporary periurban political and spatial change in Asia is the rapid escalation of land values. These land price increases present state actors with acute opportunities and challenges, leading them to develop new strategies of land management that seek to exploit urbanization processes in the interest of extending state power. Specifically, governments in much of Asia have sought to monetize land—to use government powers of land management to realize substantial increases in land values, in order to extend state power either by directly extracting revenue for government from land development, or by distributing the profits of land development to powerful corporate backers of the state. Focusing attention on this comparative political economy of land monetization can therefore provide powerful explanatory insights into emergent patterns of social and spatial inequality and political contestation. The paper further compares state land monetization strategies in Jakarta, Chongqing, and Kolkata, and uses the findings to sketch out a comparative framework for understanding these strategies and their implications for spatial and political development.