PT  - JOURNAL ARTICLE
AU  - Or Levkovich
AU  - Jan Rouwendal
AU  - Lars Brugman
TI  - Spatial Planning and Segmentation of the Land Market: The Case of the Netherlands
AID  - 10.3368/le.94.1.137
DP  - 2018 Feb 01
TA  - Land Economics
PG  - 137--154
VI  - 94
IP  - 1
4099  - http://le.uwpress.org/content/94/1/137.short
4100  - http://le.uwpress.org/content/94/1/137.full
SO  - Land Econ2018 Feb 01; 94
AB  - Zoning restrictions often exclusively permit one or a few particular types of land use. If the tightness of restrictions differs between land uses, the result may be that the market for land splits into segments referring to particular uses, because the arbitrage mechanism between various land use types is turned off. We provide evidence of such a segmentation of the Dutch land market into three compartments: agricultural, commercial, and residential use. We analyze transactions of ready-to-be developed land and find that residential land is much more expensive than commercial land. We also find that agricultural land is much cheaper than residential and commercial land. (JEL R21, R52)