Management in the Built Environment
Towards future-proof selection procedures in Urban Area Development - Improving decision making regarding selection processes for municipal land sale procedures to decrease transaction costs
Over the last few years, several documents have been published about the need for more efficient and cheaper selection processes in municipal land sale procedures. The current costs of selection are often considered too high. New, light selection methods, in which a partner is chosen based on a vision instead of a design, are suggested as a solution. However little research has been conducted about how to choose a fitting process to sell municipal land. The research question of this thesis is: ‘How can decision making regarding selection processes for municipal land sale procedures be improved to decrease transaction costs for public and private parties involved.’ From this research, it is deducted that it is advisable to select one process as a starting point based on a balance between goals and transaction the costs for the specific plot. From this starting point, municipalities can use the transaction cost theory to improve cost efficiency of the preferred procedure to come to an optimal selection design for a successful competitive land sale procedure.