Effects of Public Investments on Urban Land Values

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Abstract
The study reported in this paper was an attempt to develop a model for identifying and assessing the impact of alternative development policies on urban land values. The statistical analysis carried out suggests that the most important factor determining the values of urban land is accessibility to the central urban functions. Age of existing structures and zoning regulations are secondary factors. Since future development of central urban functions can be projected with the help of existing models and since accessibility of places (particularly by means of public transportation) and zoning regulations can be influenced by public authorities, indirect public actions considerably influence urban land values.

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