Painting the Urban Skyline
14 Pages Posted: 6 May 2009 Last revised: 28 Sep 2014
Date Written: May 6, 2009
Abstract
This paper attempts to explain housing supply, land price and structural density, the last of which paints the urban skyline. It proves that structural density and land price are positive functions of housing rent and lot size, but negative functions of interest rate and construction cost. Because of technological improvement, modern urban skyline and land price gradient have become steeper. This paper also explains why the skyline is usually not smooth, and why two adjacent land parcels can have very different prices.
Keywords: Population Density, Rent Gradient, Density Gradient
JEL Classification: R38, R14, R31
Suggested Citation: Suggested Citation
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