An empirical analysis of the chronological and spatial spillovers on land price by an urban redevelopment in city center

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  • 中心市街地での再開発事業による地価改善効果の時空間的波及に関する実証分析
  • 中心市街地での再開発事業による地価改善効果の時空間的波及に関する実証分析 : 高松丸亀町商店街における一連の再開発事業を事例として
  • チュウシン シガイチ デ ノ サイカイハツ ジギョウ ニ ヨル チカ カイゼン コウカ ノ ジクウカンテキ ハキュウ ニ カンスル ジッショウ ブンセキ : タカマツ マルガメチョウ ショウテンガイ ニ オケル イチレン ノ サイカイハツ ジギョウ オ ジレイ ト シテ
  • A case study on Takamatsu Marugamemachi shopping street
  • 高松丸亀町商店街における一連の再開発事業を事例として

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Abstract

Land prices in local cities have been decreasing even in the city center area, where the price is the highest in the city. Due to the decline of center area, the land property tax revenue has reduced, which has caused the deterioration of municipal finance in many municipalities. Meanwhile, it was reported that land prices have improved by the effect of an urban redevelopment in Takamatsu Marugamemachi shopping street, known as a leading case of shopping street regeneration. The purpose of this study is to analyze how urban redevelopment spilled over into land prices in chronological order. The result revealed two way effects of spillovers by urban redevelopment. One is the direct and rapid price increase observed just after the development, and the other is the uphold of the improvement effect observed for a long term after the rapid price increase period.

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