A STUDY ON THE EFFECT OF LEGAL DISTRICT PLAN ON LAND PRICE IN LOCAL CITY

The purpose of this study is to reveal the effect of legal district plan on land price in local city. In Japan, as the long-term population decline process is expected to continue, urban areas must adapt to the changing demographic structure by reconfiguring and downsizing existing urban areas. This study focused on district plan as a policy that has a positive impact on urban reconfiguration, and quantitatively showed the effect of district plan on land price using hedonic approach in local city. As a result, more than half of the districts analyzed had a positive impact.