- Volume 12 Issue 5
In the debates of development gains, the general rule is that it results from actions other than those of the landowner, most notably of the public sector as in granting of permissions for the development of specific land uses and densities or through infrastructure investments, or of socio-economic forces due to a general capital accumulation in space. A huge academic literature has investigated the development gains capture that refers to the process by which a portion of or all land value increments attributed to the community effort are recouped by the public sector. Policy instruments for applying development gains capture are based on deepening land value taxation, financing infrastructure, controling land use. But one of the most basic for the efficient policy implementation is the accurate estimation of development gains. This paper estimates the development gains generated by the total 204 building land projects of Korea Land Corporation and Korea National Housing Corporation since 1995.