THE STRATEGIC IMPLICATIONS FOR THE RANDSTAD OF THE DUTCH PROPERTY SYSTEM

The aim of this paper is to decide how well the Dutch are served by th eir property system and whether it is organisationally and functionall y suited to advancing the competitive position of the Randstad cities within a unified Europe. In the first part of the paper, some of the d istinctive features of the Dutch property system are highlighted by dr awing comparison with trends and outcomes found in the British and Aus tralian housing and office submarkets. Pricing policy in the Netherlan ds is outlined, followed by a consideration of some key outcomes inclu ding the relative stability of property prices; modest inter-regional price differentials; public benefits of a regulated land supply; occas ional breakdown of coordination; indifference towards development gain s. Then the property system is discussed in the context of 'internatio nalisation', subsidies, and coordinated property development within th e Randstad. The concluding assessment suggests that at present the Dut ch have a de facto, as much as a strategic, land pricing policy; but t hat so long as inter-governmental coordination and the management of b uilding assets can be improved, it does not make sense to dismantle a system that has served the Dutch comparatively well.