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why are land values high in the cbd

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Date and time: Thu, 13 Jan 2022 13:15:21 GMT

Why are land values high in the cbd

Characteristics
The CBD or Central Business District is the commercial centre of an urban area. It contains the main shops, offices and financial institutions of the urban area. It is usually the most accessible (easy to get to) part of the city. This is because most of the main transport routes lead here. Due to high land values, buildings tend to be tall, and building density is high.

The CBD in Newcastle

Land Values
Land values tend to be very high; this is the result of significant competition to locate here. It is cheaper to build up than out. Also, there is a limited amount of open space available. New developments tend to focus on redeveloping existing areas rather than using the limited open space available.