By Anne Haila
In Urban Land Rent, Anne Haila makes use of Singapore as a case learn to improve an unique idea of city land lease with vital implications for city reviews and concrete theory.
Provides a accomplished research of land, lease conception, and the trendy city
- Examines the query of land from a number of views: as a source, ideologies, interventions within the land marketplace, actors within the land industry, the worldwide scope of land markets, and investments in land
- Details the Asian improvement country version, historic and modern land regimes, public housing versions, and the advance for Singapore and several cities
- Incorporates dialogue of the fashionable actual property marketplace, almost about genuine property funding trusts, sovereign wealth cash making an investment in genuine property, and the fusion among subtle monetary tools and genuine estate
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Additional info for Urban land rent : Singapore as a property state
Among the main conclusions of this study are that: affordable housing for the majority of people is feasible; preventing land speculation is possible and the key to successful housing and urban policy; a city can simultaneously have government intervention and a successful private development industry; and real world alternatives for urban development (not just utopias) exist. I use the title that was applied at the time. Today, some scholars argue that it has been substituted by the post-Washington consensus or the Beijing consensus (Halper 2010).
It has been important in nation building, was a great success story for the first-generation PAP leaders, has facilitated economic growth, created wealth for Singaporeans and been a prominent issue in elections. The book will discuss irrational overpricing of real estate and show how the property state of Singapore has intervened in the market for the benefit of homebuyers, enterprises and Singapore's economy. In Singapore, there is a thoroughly planned web of government institutions, statutory boards, government-linked companies, and government investment corporations that develop, manage and invest in land and real estate developments as if there has been an ‘invisible hand’ at work.
The real estate sector develops logics of its own, making public policies difficult to implement because the external forces of the global financial market and the built environment are vulnerable to crises (global rent is discussed in Chapter 7 and derivative rent in Chapter 8). In this phase, it becomes tempting for states and municipalities to sell and corporatise the land they own, using it as an instrument for fiscal revenue (fiscal rent). In debates concerning the origin, evolution and effects of landed property, genetic (relating to origin), consequential (referring to consequences such as efficiency and democracy) and moral (fairness and justness) arguments have been presented and confused.