A Study on the Governance of Small-Property-Right Housing in Urban Renewal: A Perspective Based on the Distribution of Land Appreciation Gains

Research Objective: To explore governance pathways for small-property-right housing from the perspective of land appreciation revenue distribution, thereby promoting high-quality urban renewal. Research Methods: The study employs theoretical analysis, inductive summarization, and logical reasoning. Research Findings: (1) Land appreciation revenue consists of absolute rent, differential rent I, and differential rent II, corresponding respectively to land ownership, land development rights, and land management rights; (2) A framework for the distribution of land appreciation gains that “balances public and private interests and promotes multi-stakeholder sharing” is established, clarifying the revenue boundaries for entities such as the government, village collectives, and housing operators; (3) Two governance pathways are proposed: converting retained collective property rights into affordable rental housing, and categorizing and disposing of properties after government expropriation and conversion to state ownership. These are further refined into five implementation models. Research Conclusions: The rational distribution of land appreciation gains is key to resolving the governance challenges of small-property-right housing and coordinating the objectives of urban renewal with housing security.