Land Development Right Pricing And Spatial Transfer:an Empirical Study Of Wuhan

Contradiction between farmland preservation and increase in urban use is an unavoidable serious problem in the process of urbanization. On one hand, owing to fast population growth, the government must preserve an amount of farmland for food security. On the other hand, the Socio-economic development also increases in demand of construction land. A lot of phenomena show that, because of the unequilibrium control efforts of the farmland protection and development, the loss of farmland accelerates and the areas of development land expansion obviously. The reasons are:the absence of land development rights lead the opportunity cost of land development reduction, and reduced revenue of the farmland protection. The farmland supply curve goes down, and farmland on the demand curve shifts. Powerful interest groups obtained the excess profits, which lead to over conversion of farmland, lower compensation for farmers, higher social costs. So, setting up an unambiguous land development right, quantifying the value, analyzing the spatial transfer of development right, expected economic revenue and change in development density are of practical and theoretical significance.The main purpose of land development rights is to coordinate the relationship between land development and protection, but the many existing land development rights studies are at a stage of theoretical analysis, which is insufficient to guide specific land development right transfer. In this study, we take a number of empirical cases as examples, attempt to answer the following questions:â‘ What is the nature and attributes of land development rights?â‘¡What does the value of land development rights constitute and how does it change?â‘¢How to Measure the value of land development rights in different regions?â‘£How do land development rights transfer in China? Which factors affect it transfer?In order to solve the above problems, the dissertation is organized as the following four parts:The first part contains chapters from1to4, which is the theoretical part. The related theoretical issues, which include land development rights, land rent, urban spatial structure, real option and option theory, are discussed. On the basis of relevant theories, the conceptual analytical framework and pricing models of development right are constructed. The value of land development right, which is composed of land use conversion value and the option value, is drawn. And the change tendency of land development right, classification of urban land in central city, the general urban land and farmland, the citizen's and farmer's questionnaires are also finalized. The second part consists of chapters5and6which is pricing case in Wuhan. On the basis of analysis of land development right features in central city, general city and rural area, the author construct empirical plane and dot pricing models of land development rights and estimate the value in different areas. The results show that the average dot and plane value in the central urban area is5373.58Yuan/m2, and2559.32Yuan/m2respectively; the above value in the urban area is3026.90Yuan/m2, and2213.27Yuan/m2respectively; the plane value of farmland is185.42Yuan/m2.The third part consists of chapters7and8which is emprical study of the spatial transfer and mechanism of land development rights. In this section, the author first select Hongshan district of Wuhan city (Empirical region) as the implementation region of land development rights transfer, analyze the transfer possiblity between the sending and receiving zone. Second, transfer model of land development right is constructed based on the imcomplete information about game theory and the effects of development right system on quantity of land development is analyzed by the model. Then, the sending and receiving zone of land development transfer program are located, transfer quantity of land development between the two areas is caculated, the influencing factors of the development transfer are determined. Finally, the value of land development right transfer is measured. Land development right transfer program not only aims at the balance of the quantity, but also the value. According to the quantity and value of land development rights transfer program, the author analyzes the influence of the spatial transfer quota on the banlance of quantity and value and set up rational regulation quota so as to initiate the practical mechanism of land development right transfer and guide the application of land development rights in China.The last part of the dissertation i.e., chapters9, is the conclusion and discussion.