The land market first classic school theories are based fundamentally on the urban land value. According to Marshal, 1980, urban land begins to have primordial interest with the neo-classics. After Hurd, 1903 theory that states that urban land value decreases proportionally with the city size and distance to its center, therefore, the idea of transports importance, competition and exploitation emerged progressively.
Great land market models were developed in the last years: Wingo (1962), Alonso (1964) and R. Mayer (1965) models.
Giving emphasis to transports, the Wingos model establishes on one hand " the relationship between the time traveled and transport costs, and on the other, the land market value"
Being so, the land market value is higher in the city center than in more distant areas. When the city size increases, the land market value and the population density increase. Accordin to the author’s assumption, transports improvement (tariff unification) would reduce inequalities.
In Alonsos model, more importance is given to the individual’s financial capacity. It assumes that the family budget is broken down into transport, accommodation and other consumables expenses. Assuming that consumable expenses are constant and more of the income is allocated to transport, the part remaining for the plot to build a house will be reduced.
According to Alonso, transports improvement would favor periphery expansion, consequently a price rise in the periphery areas while reducing the land market pressure in the center. On another view, favoring city center accessibility, transport progress can give rise to new activities; increase competition and consequently a rise in land market prices. Mayers models, supports itself on the decreasing land marked pressure in the center to the periphery and in inverse progression of the time lost in traveling from the periphery to the center (jobs concentration). The periphery land price is equivalent to farming soil added equipment and feasibility costs, of an amount that corresponds to an anticipation over the value achieved by urban land and a rare rent when there is little land for building. According to this model, the amount of equipped land, improvement of urban transport speed as well as the creation of secondary centers would reduce the rents and the land value as a whole.
From the theoretical models presented, it could generally be concluded that: the medium value are established by a growing gradient, concentric areas without clear limitation nor regular layouts; the concentric areas are distorted mainly at transport level where “ isochoric curves are also of “iso-price” and “iso-rent””, the changes in communication networks as well as the coming into sight secondary centers act on the land value. Lastly, the land market is influenced by the multi-central phenomenon.
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