Allocation of property rights in the next city: proposal for socially sustainable surplus value

Abstract

This article proposes to implement in the private real estate traffic, nowadays managed by the figure of the owner, the figure of surface right in real estate transactions of land transformation (urbanization) and building sites (promotion), from the moment of land subdivision, and from the existence of the building site to the construction of products, and even during the operating lease. The theoretical framework is the conceptual separation of socially useful and added value that has to do with productive rents and socially useless surplus that has to do with speculative profits which is outside of the collective interest. As if we were talking about cholesterol (= surplus value) which is good for our body and a bad cholesterol. Or about energy (= surplus) that makes the changes viable, distinguishing a clean, slightly dangerous electricity, of continuous supply and modular intensity, from electricity which is dangerous energy, highly explosive, of intermittent supply and which requires strong security measures, such as gas. There have been analyzed two cases of estate-transforming activity, one aimed to sell and the other to convert for rent – under the two types of real estate traffic: traffic-based classic land ownership for the transformer-promoter and trafficking in which the surface rights law governs relations between the land owner and the transformer-promoter as a land owner. As a result of the analysis, the system transfiguration implies a change superior to Pareto, improving both the profitability of the participants (owner, surface owner and the ultimate purchaser) and the social returns for it allows the owner - real estate promoter - to adapt the sales values ?? to the demand to gain always, in both bullish and cycles in recessions. However, all this without considering the limitation imposed to the owner of land for it to yield his right to have the surface rights.