Impacts of urban environmental elements on residential housing prices in Guangzhou (China)

The amenity value provided by urban green spaces, water bodies and good environmental quality is difficult to assess and incorporate into urban planning and development. Developers and governments in China hitherto have seldom objectively factored these attributes into property pricing and associated decisions. The hedonic pricing method offers an appropriate approach to gauge such external benefits which contribute to real-estate transaction prices. This study explored the impacts of key environmental elements with a bearing on residential housing value in Guangzhou, including window orientation, green-space view, floor height, proximity to wooded areas and water bodies, and exposure to traffic noise. Four large private housing estates composed of multi-storied blocks with similar design and price bracket, catering to the mass property market, were sampled. Transaction price data and structural attributes of 652 dwelling units were acquired directly from developers. Data on environmental attributes were collected in the field. Two functional hedonic pricing method models, linear and semi-log, were constructed. The semi-log model offered comparatively stronger explanatory power and more reliable estimation. High floor on the multi-storey tenement blocks contributed implicitly 9.2% to the selling price. View of green spaces and proximity to water bodies raised housing price, contributing notably at 7.1% and 13.2%, respectively. Windows with a southern orientation with or without complementary eastern or northern views added 1% to the price. Proximity to nearby wooded area without public access was not significant, expressing the pragmatic mindset in the hedonic behavior. Exposure to traffic noise did not influence willingness-to-pay, implying tolerance of the chronic environmental nuisance in the compact city. The study demonstrates that hedonic pricing method could be applied in the Chinese context with an increasingly expanding and privatized property market. It could inform the decisions of policy makers and property developers concerning land selling and buying, land conversion, property development, urban nature conservation, and design of ecological green-space networks.     

Are valuations of place-based amenities driven by scale?

Amenities play an important role in explaining regional attractiveness as they increase the competition between places and the demand for housing. This paper contributes to the literature on valuations of place-based amenities by estimating hedonic prices for a differentiated set of amenities, and by examining the link between urban density and amenity valuations. The empirical analysis is based on a sample of 8319 single-family home sales observed during the period 2001–2011. Results show that amenities are valued differently depending on their size, the relationship between size and distance and neighbourhood characteristics. Differentiating among a set of nature- and culture based amenities shows that it is profoundly the value of proximity to open space that vary with neighbourhood density. Results are robust when testing for non-constant implicit prices over different time periods and novel to the literature on valuation of open spaces using the hedonic price model.     

New Estimates of the Demand for Urban Green Space: Implications for Valuing the Environmental Benefits of Boston's Big Dig Project

Abstract Parks and open spaces enhance the quality of life in urban areas. Over the last 15 years, the city of Boston has sponsored the most expensive urban infrastructure project in history. This project relocates an elevated highway underground and creates urban parks, increasing the city's green space. The study estimates the economic benefits of proximity to parks in Boston, Massachusetts, based on hedonic pricing methods. Using Boston's land use and assessed property price data, it is determined that proximity to urban open space has positive impacts on property values, while proximity to highways has negative impacts on property prices. Based on this observation, it is expected that the spatial alteration will cause a significant increase in nearby property prices.     

The puzzling heterogeneity of amenity capitalization effects on land markets

Government‐funded urban amenities provide significant values to land markets. This paper uses spatial econometric techniques to recover the puzzling heterogeneity in capitalized values of local amenities such as higher education facilities, transport and environmental amenities. On top of its policy implications, this paper differentiates between non‐spatial models and spatial models to allow spatially varying marginal‐price estimates and reflect the subtle ways that land markets capitalize local amenities. Our results provide heterogeneous estimates of capitalized amenity values that would affect land development, illustrating the linkage between government‐funded amenities and the intensity of land development.     

郑州市老城区居民游憩绿地体系规划

该项目以居民出行500m见绿地为命题,从城市总体规划、城市绿地系统规划、城市控制性详细规划以及城市绿地方案设计等各个层次探索大城市老城区居民游憩绿地的规划设计方法,以期提供具有前瞻性又切实可行的规划成果,有效地改善老城区市民的生活环境.     

US regional population growth 2000–2010: Natural amenities or urban agglomeration?

Using a spatial hedonic growth model, this paper empirically assesses the roles of natural amenities and urban agglomeration economies in US regional growth patterns from 2000 to 2010. Natural amenities and urban agglomeration are measured using the USDA Economic Research Service county classification codes. The general finding is that natural amenities and urban agglomeration both influenced regional growth. Yet, the natural amenity ranking is estimated to be positively related to increased productivity over the period rather than increased attractiveness to households. Urban agglomeration is positively related to increased amenity attractiveness to households. Within census regions, household natural amenity demand played a stronger role in non‐metropolitan areas.     

The influence of urban and natural amenities on second home prices

This paper estimates a spatial hedonic model to examine the influence of urban and natural amenities on second home prices in south Sweden, incorporating local and regional heterogeneity. With the results obtained in this paper, several important relationships between amenities and second home prices are revealed and price formation in this particular study region is indicated to be strongly related to place-specific factors, regional context and amenities. Key findings show that natural amenities have a significant influence on pricing of second homes when located in regions classified as rural, whereas access to an attractive local house market is shown to be more important for prices of urban second homes.     

Market versus public provision of local goods: An analysis of amenity capitalization within the Metropolitan Region of Santiago de Chile

The liberalization of the Chilean economy since 1974 has generated important modifications on its urban development policies. However, little attention has been paid to estimate how urban amenities are capitalized in housing prices under this new scenario. In this paper, we explore this relationship through a hedonic pricing model and 27 urban amenities for the Chilean main urban agglomeration, the Metropolitan Region of Santiago (MR). We recognize that the capitalization of urban amenities into housing prices is spatially heterogeneous, therefore we study this relationship by using the geographically weighted regression (GWR). The main results suggest that urban amenities play an important role in determining housing prices with a significant spatial heterogeneity, where notably differences between public and private local services are found. Particularly, private services such as schools, shopping centers, healthcare centers or restaurants have positive capitalizations on housing prices. In contrast, public schools, public hospitals and public kindergartens have negative valuations in housing prices, suggesting that living closer to these services reduces housing values. Our results provide policy makers with valuable elements when designing urban policies in terms of the importance of heterogeneous valuations of urban amenities across neighborhoods, how to allocate resources more efficiently to foster the quality of life on new urban residents and the need of considering the economic segregation triggered by heterogeneous preferences to amenities across space.     

Value of scenic views: Hedonic assessment of private housing in Hong Kong

Diverse landscape elements in cities are valued differently by residents. People are willing to pay a premium for attractive views. This study assessed the amenity value of two major types of natural landscape in Hong Kong: harbor and mountain. The study was based on 1474 transactions in 2005 and 2006 in 18 private housing estates in a residential district. The high-rise and high-density blocks were typical for middle-income housing in the city. The hedonic pricing method was employed to estimate the proportional share of various views and factors on transaction prices. Only harbor view was preferred and reflected in housing value. A broad harbor view could increase the value of an apartment by 2.97%, equivalent to US$ 15,173. Even a confined harbor view could lift price by 2.18% or US$ 11,137. On the contrary, a broad mountain view would depress apartment price by 6.7%, whereas a confined mountain view was statistically insignificant. Increasing distance between an apartment and a preferred natural landscape would lower transaction price. The negative perception of street view induced a price reduction by 3.7%. Building views were tolerated as an inevitable feature of the compact and vertical city. Quantifying the value of nature and scenic endowments in cities could inform policies and strategies on urban planning, development, nature conservation, and property appraisal.     

Research on the Greening Rate and Spatial Differences of Urban Residential Neighborhoods in Shenzhen

Residential green spaces are one of the most frequently used urban green space types. Aiming at filling a gap in the existing greening indicators with considerations on the spatial differences of residential green spaces, as well as to inform the improvement of urban green space service, three greening indicators, i.e. residential unit’s green coverage rate, green view index, and park ratio within a 500 m service radius, are proposed in this paper. This study selects 14,196 residential units in built area of Shenzhen City in 2017 to measure the greening rate and the geographic spatial factors of the units upon multi-sourced geographic databases such as land cover maps and street view images. The research reveals that: 1) the three indicators can all independently measure the greening rate within or around residential units; 2) the studied residential units are low in residential unit’s green coverage rate and park ratio within a 500 m service radius, but high in green view index; 3) there are significant disparities of the greening rate and the surrounding parks in 500 m service radius among the studied units, and among different housing property rights, showing a disequilibrium in green space service; and 4) the greening rate of residential units is mainly impacted by factors such as development intensity, types of housing property right, altitude, and location. In conclusion, it is suggested that urban green space layout should prioritize improving the spatial distribution and layout of residential green spaces, especially for the socially vulnerable population. Finally, the study points out that the park ratio within a 500 m service radius can be adopted as a supplement to existing greening indicators for residential areas.     

不同类型地铁站点对住宅价格的影响差异 ——以成都为例

地铁是促进居民低碳出行、解决城 市交通及一系列衍生问题、有助于实现碳达 峰、碳中和目标的重要交通方式。作为大型 城市交通基础设施和地方公共产品,地铁提 高了站点地区的可达性,可能产生经济外部 性,如提升土地和房地产价格。大量研究关 注此话题,但是它们较少考虑站点类型的差 异,比如区分换乘站、首末站和常规站。因 此,本研究基于成都2019年已开通的6条地铁 线路周边2.5 km范围内2 535个小区的27 814个 交易住宅样本,构建了双层随机截距特征价 格模型,估计了各个住宅特征的影子价格,对比换乘站、首末站和常规站对住宅价格的影响差异。实证结果表明：地铁正向影响周边 房价,带来增值效应;邻近换乘站与房价正相关;邻近首末站与房价负相关;换乘站的增 值效应远大于常规站;首末站的增值效应和常规站无显著差异。最后,围绕土地价值捕获 的政策制定进行了讨论。     

新冠肺炎(COVID-19)疫情下居住区绿地对居民心理健康影响的实证研究

As one of the frequently used green spaces of urban residents, residential green spaces have a positive effect on people’s mental health status. In order to understand the impact of residential green spaces on citizens’ mental health during the COVID-19 epidemic, this study collected the sociodemographic data of 556 residents from 15 residential communities in Hefei New Municipal and Culture District, Anhui Province, China in March, 2020 through online questionnaires, then adopted the Kessler Psychological Distress Scale (K10 Scale) to evaluate the residents’ mental health status, and used GIMP Grid to quantify the green view index of residential green spaces outside the windows. Besides, a multiple linear regression model was used to explore the correlations between residential green spaces and residents’ mental health status. The findings show that green coverage ratio, satisfaction of the landscapes of green space, green view index outside the window, and green viewing duration of the residential green spaces have positive effects on residents’ mental health status. The study verifies the benefits of residential green spaces to promoting resident’s mental health status under COVID-19, providing a scientific guidance for the future practice of urban construction.     

Does bus accessibility affect property prices?

Existing studies have yet reached consistent conclusions on accessibility benefits of buses. Most existing studies have been conducted in the context of the West, where bus patronage is generally low. In this study, we used a database of 22,586 secondhand residential properties in 358 residential estates in Xiamen, China to develop four non-spatial hedonic pricing models (one standard and three Box-Cox transformed) and two spatial econometric models to quantify the effects of bus accessibility on property prices and analyze how the introduction of spatial econometric models would influence estimates of such benefits. Our findings are as follows. (1) Access to bus stops is positively correlated with property prices. This outcome is in contrast with findings of mainstream research (or conventional wisdom). For every bus stop within 500 m, the price of a property is 0.5% higher, all else being equal. (2) Bus travel times to essential destinations significantly influence housing prices. (3) Spatial econometric models that account for spatial autocorrelation outperform traditional hedonic pricing models. A few robustness check analyses further guarantee the plausibility of this study. However, the price premiums offered by bus accessibility may be gradually decreased, even eventually discarded, because of declining attractiveness for bus travel and continuous transit service enhancement in the forthcoming years.     

Amenity,accessibility and housing values in metropolitan USA: A study of Salt Lake County,Utah

Negative amenities, such as air pollutions, have plagued many rapidly growing cities. However, researchers have not comprehensively examined their effects on housing values and on the local economy. These effects may be spatially auto-correlated with accessibility factors, differ in how they are dispersed over space and time, and have sizable localized effects. In this study, we use the assessed property value data and hedonic pricing models to examine consumers' underlying preferences for various amenities and accessibility factors in Salt Lake County, with a particular focus on air pollutions and forest coverage. Three models are used to address the problem of special and temporal heterogeneity. Results from ordinary least squares (OLS) regression show that single-family home values are affected not only by structural attributes, but also by urban amenities and accessibility factors such as air pollution, forest coverage, quality of public schools, and commuting cost. After controlling the covariates in spatial lag regression (SLR), we find that air pollutions and the lack of forest coverage have a significant and detrimental effect on housing values over time. Finally, results from geographically weighted regression (GWR) indicate that spatial heterogeneity is evident and that the forest coverage has more positive influences in the east side of Salt Lake County, while the negative effect of air pollutions is less pronounced on housing values in the southeast. However, air pollutions and forest cover matter irrespective of the method used.     

外部环境对住宅价格影响的Hedonic法研究——以上海市为例

应用Hedonic住宅价格法对上海市210个住宅实际成交价格作定量分析,建立有效的上海市住宅价格Hedonic模型。并应用该模型对上海市轨道交通以及公园绿地对住宅价格的影响作出定量估测,结果表明,有黄浦江视线的住宅总价高33.96%,约38万元人民币;有公园视线的住宅总价高17.86%,约20万元人民币;到地铁站点地面距离100～600m的圆环内,距离每增加1%,住宅总价下降0.058%,平均每个站点的经济收益为2.76亿元,等。     

供需耦合协调视角下高密度城市公园 绿地公平性研究——以深圳龙华区为例

城市化的快速发展致使城区人口密度迅速上升，公园绿地资源供需失调、绿地配置不公平的情况日益突出。在存量发展的背景下，基于供需耦合协调理论，从“空间公平-社会公平-社会正义”3个维度构建高密度城市公园绿地供需空间匹配关系和协调发展程度的研究框架，并以深圳市龙华区为例，以社区为研究尺度，探究弱势群体的绿地资源配置差异。结果表明：1)从供需耦合协调视角能够更为精准地对城市公园绿地配置的公平性进行测度，并研究其空间分异特征；2)龙华区中部的公园绿地供给滞后，大部分区域处于供需失调状态；3)群体间绿地资源分配差异明显，老年群体和儿童群体的绿地供给滞后情况在南部较为严重。研究结果可为高密度城市绿地的规划提供精细化评价的参考，有助于实现城市绿地空间的社会效益均衡及高质量协调发展。     

Amenities and urban residential structure: An amenity-embedded model of residential choice

The basic model of residential choice, which has been established by generalizing Von Thünen's concept to an urban context, states that the equilibrium structure of residential land use is determined by the trade-off between accessibility and space. The willingness to sacrifice space for accessibility differs between households and depends on household income. The equilibrium land use is the outcome of the interplay between the income elasticity of space consumption and the income elasticity of commuting outlays. The primary purpose of this article is to extend the basic model by incorporating a location-dependent quality of the environment. The proposed model examines the locational consequences of household choice as influenced by a complicated interplay among three factors: the income elasticity of housing demand, the income elasticity of commuting costs, and the location-dependent amenity schedule. The equilibrium land use is contrasted for two types of cities: the case 1 city in which the level of amenities increases toward the urban fringe, and the case 2 city in which the level of amenities is assumed to decrease as one moves toward the urban fringe. Received: 2 August 1999 / Accepted: 18 September 2000     

基于InVEST-MCR复合模型的城市 绿色空间生境网络格局构建研究

城市化进程的不断加快影响了城市绿色空间的生境质量,城市生物多样性受到极大威胁。构建城市范围内的多物种综合生境网络能够整合现有的城市绿色空间格局,促进生物多样性保护与发育。以北京市丰台区为例,面向生物多样性保护与城市绿色空间发展提出了基于In VEST-MCR复合模型的城市绿色空间生境网络格局构建方法体系:即以生境类型为导向选取区域内生物多样性保护的焦点物种,通过大数据选取焦点物种的栖息源地,基于In VEST模型生境质量模块选取潜在栖息地(汇)并生成生境网络构建阻力面,采用最小累计阻力模型(MCR)构建丰台区城市绿色空间生境网络。研究结果明确了丰台区的生境质量现状与未来生境网络发展脉络,为城市绿色空间生境网络构建提供了新方法,为丰台区绿地空间格局规划与生物多样性保护提供了参考框架。     

基于交通因素的日常生活圈环境健康出行 适老化研究——以南京市中心城区为例

15min生活圈能够提升老年人群健康安全的生活质量。老年人群与城市绿地的连接既依赖道路体系，又面临空气污染隐患。基于大数据与ArcGIS平台，从绿地可达性视角展开对南京市中心城区“绿-居-人”体系的空间分布研究。从健康出行视角综合判断绿地规划、可达便利与老年人群的呼吸健康。研究发现如下。1)老城区中50岁及以上的人口占比(4.23%)高于新城区(2.86%),1997年及之前的老旧小区面积占比高达64%。2)老城区有67%的居住区在绿地15min步行范围内，是新城区的2倍多。以老城区为中心向外辐射，绿地对老年人群的服务效能逐级降低。3)老城区绿地受到的道路空气污染压力约为新城区的2倍。可达性高的绿地，所受道路污染源影响也更大。主干道对绿地空气污染压力的源头供给占40%，对绿地可达性的支持达33%。提倡为老年人群出行构建健康绿色路网，满足绿地15min可达和低空气污染。研究成果对城市更新中统筹绿地、路网、居住区布局，优化生活圈适老化环境具有一定借鉴价值。     

更新观念 重构城市绿地系统规划体系

本文结合深圳城市绿地系统规划的实践,重点就《城市绿地系统规划》的编制形式、内容、深度,以及绿地实施措施和管理方式进行了研究和探索,并进一步探讨了科学发展观下城市绿地系统在城市规划体系中所应承担职能及其相应的改革问题。