The land rent dynamics of public land development in Copenhagen

This study examines the land rent dynamics associated with public land development in Copenhagen, Denmark. Based on a review of existing literature and document analysis of grey literature, we chronicle the specific land commodification strategies (and forms of rent associated with these strategies) adopted by a state apparatus tuned to the financialization of public land as a means of maximizing revenue to service its debt obligations. In the process, the study integrates Bernt’s (2022) concept of the commodification gap with the forms of rent identified in land rent theory. We reveal the local and national state collaboratively operating through public development corporations to pursue each form of rent via multiple land commodification strategies. We argue that the success of this development has hinged on the pursuit of state monopoly rent whereby all the land slated for modern development in Copenhagen was consolidated under a single state-owned entity effectively stifling competition and controlling supply and demand. In the context of Copenhagen’s post-welfarist transformation, we conclude by arguing that the debt-induced disciplining of the local state (via this development model) compels its pursuit of state monopoly rent in ways that necessarily limit its capacity to fulfill its otherwise conflicting social welfare objectives.