This article summarizes the theory of how regional urban containment policy should influence the regional land market; it gives special reference to the interaction between greenbelt and exurban land markets separated by containment policies. I apply a model of the theory to a case study. I find first that the demand for exurban land shifts into exurban districts and away from farmland protected in greenbelts. Second, I find that exurban land value rises the closer it gets to greenbelt land, which suggests that it captures scenic and other benefits of greenbelts. Third, I find that nearby exurban development does not affect greenbelt land values adversely, which suggests that farmers and exurban residents may coexist if their respective districts are defined. Planners who wish to protect farmland from urban households seeking low density and rural residential lifestyles within commuting range of urban centers might consider the implications of this empirical note on their efforts.
ASJC Scopus subject areas
- Geography, Planning and Development
- Urban Studies