Application of New Land Value Capture Instruments in Colombia

Applying the new instruments of land value capture in Colombia led not only to the introduction of land price regulation mechanisms and state participation in the creation of urban land value increments, it also enabled operation of the land market to be described by specific socioeconomic and political contexts. The lack of efficient and effective land value capture instruments shows us how the social goals for a city, such as providing housing for the poorest segments, are redirected by a series of factors specific to the speculative land market and by the state’s inability to control them. Goals are then directed towards individual needs that reap maximum benefit for urban developers and land owners, to the detriment of the city’s poor.