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Land Use Rights, Government Land Supply, and the Pattern of Redevelopment in Shanghai Author: Yuming Fu, Tsur Somerville, Mengdi Gu, and Tongcheng Huang Start Page:
49 Abstract: This
paper reviews the urban redevelopment activities in Shanghai as the land
market reforms were introduced. We focus on the impact of land use institutions on the
spatial pattern of these activities. Sites for private real estate
redevelopment were supplied by individual districts in the city. But the
need for districts to pay for the resettlement of displaced residents
contributed to a spatial mismatch between the supply of redevelopment
sites and the market demand for commercial real estate space.
Resettlement costs are highest at the high demand locations.
State owned enterprises and institutions occupying land allocated
by the state also engaged in real estate development. Whereas the
density of private redevelopment was sensitive to the volume of
commercial activities in a district, this does not appear to have been
important in determining the location of the significant increase in the
stock of commercial space resulting from development by local
enterprises and institutions. This growth shows considerable
decentralization between 1993 and 1996, indicative of spatially
inefficient redevelopment activities by land-rich state enterprises.
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