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Completed
Instruments for internalising landscape values in urban rural interplay processes.
FunderNetherlands Organisation for Scientific Research (NWO)
Duration01 Nov 2004 - 09 Oct 2009
Project code474-03-448
Identifiers
Project timeline100%
Description
The value of open space and scenic quality are not fully reflected in a market value (as is the topic of project 02), mainly because open space and scenery are not tradable. They are therefore external effects, which are not taken into account in the land market. In the Netherlands, the typical governmental role of protecting such non-economic values is decaying. Against this background, this project explores several options for internalising external effects into the metropolitan real estate market by analysing best-practices. Internalising external effects invokes market regulation of qualities that were normally outside the market. Particular interest is paid to institutions that lower transaction costs for internalising these values in the land market of metropolitan landscapes.
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The value of open space and scenic quality are not fully reflected in a market value (as is the topic of project 02), mainly because open space and scenery are not tradable. They are therefore external effects, which are not taken into account in the land market. In the Netherlands, the typical governmental role of protecting such non-economic values is decaying. Against this background, this project explores several options for internalising external effects into the metropolitan real estate market by analysing best-practices. Internalising external effects invokes market regulation of qualities that were normally outside the market. Particular interest is paid to institutions that lower transaction costs for internalising these values in the land market of metropolitan landscapes.
