Impact of urban green space on residential housing prices: Case study in Shenzhen

Journal of Urban Planning and Development

Volumn 141, Issue 4, 2015, Pages

  Wu, Jiansheng ^a   Wang, Meijuan ^a   Li, Weifeng ^b   Peng, Jian ^a   Huang, Li ^c  

^a PEKING UNIVERSITY   (China)

^b UNIVERSITY OF HONG KONG   (Hong Kong)

^c UNIVERSITY OF IDAHO   (United States)

Author keywords

Hedonic pricing method (HPM); Parks; Residential housing price; Shenzhen

Indexed keywords

COSTS; DECISION MAKING; PARKING;

CENTRAL BUSINESS DISTRICTS; ENVIRONMENTAL TAXES; ENVIRONMENTAL VARIABLES; HEDONIC PRICING; PURCHASE DECISION; RESIDENTIAL HOUSINGS; SHENZHEN; URBAN GREEN SPACES;

HOUSING;

ACCESSIBILITY; CENTRAL BUSINESS DISTRICT; GREENSPACE; HEDONIC ANALYSIS; HOUSING MARKET; PRICE DETERMINATION; RESIDENTIAL LOCATION; TRANSACTION COST; URBAN AREA; URBAN HOUSING;

CHINA; GUANGDONG; SHENZHEN;

EID: 84947997297     PISSN: 07339488     EISSN: 19435444     Source Type: Journal    
DOI: 10.1061/(ASCE)UP.1943-5444.0000241     Document Type: Article

References (49)

1. Baranzini, A., and Schaerer, C. (2011). "A sight for sore eyes: Assessing the value of view and land use in the housing market." J. Hous. Econ., 20(3), 191-199.
2. Brasington, D. M., and Hite, D. (2008). "A mixed index approach to identifying hedonic price models." Reg. Sci. Urban. Econ., 38(3), 271-284.
3. Chen, W. Y., and Jim, C. Y. (2010). "Amenities and disamenities: A hedonic analysis of the heterogeneous urban landscape in Shenzhen (China)." Geog. J., 176(3), 227-240.
4. Chiesura, A. (2004). "The role of urban parks for the sustainable city." Landscape Urban Plann., 68(1), 129-138.
5. Chin, H. C., and Foong, K.W. (2006). "Influence of school accessibility on housing values." J. Urban Plann. Dev., 10.1061/(ASCE)0733-9488(2006)132:3(120), 120-129.
6. Cho, S. H., Bowker, J. M., and Park, W. M. (2006). "Measuring the contribution of water and green space amenities to housing values: An application and comparison of spatially weighted hedonic models." J. Agric. Resour. Econ., 31(3), 485-507.
7. Darling, A. H. (1973). "Measuring benefits generated by urban water parks." Land Econ., 49(1), 22-34.
8. Doss, C. R., and Taff, S. J. (1996). "The influence of wetland type and wetland proximity on residential property values." J. Agric. Resour. Econ., 21(1), 120-129.
9. Dziauddin, M. F., Alvanides, S., and Powe, N. (2013). "Estimating the effects of light rail transit (LRT) system on the property values in the Klang Valley, Malaysia: A hedonic house price approach." Jurnal Teknologi., 61(1), 35-47.
10. Gómez, F., Jabaloyes, J., Montero, L., De Vicente, V., and Valcuende, M. (2010). "Green areas, the most significant indicator of the sustainability of cities: Research on their utility for urban planning." J. Urban Plann. Dev., 10.1061/(ASCE)UP.1943-5444.0000060, 311-328.
11. Ham, Y. J., Maddison, D. J., and Elliott, R. J. (2013). "The valuation of landfill disamenities in Birmingham." Ecol. Econ., 85(5), 116-129.
12. Jim, C. Y., and Chen, W. Y. (2006). "Impacts of urban environmental elements on residential housing prices in Guangzhou (China)." Landscape Urban Plann., 78(4), 422-434.
13. Jim, C. Y., and Chen,W. Y. (2010). "External effects of neighborhood parks and landscape elements on high-rise residential value." Land Use Pol., 27(2), 662-670.
14. Kong, F., Yin, H., and Nakagoshi, N. (2007). "Using GIS and landscape metrics in the hedonic price modeling of the amenity value of urban green space: A case study in Jinan City, China." Landscape Urban Plann., 79(3), 240-252.
15. Li, L, and Wang, B. (2010). "Research on effects of public real estate price in Wuxi City." Resour. Dev. Market., 26(9), 793-798.
16. Liu, B., Hong, T., and Pan, L. (2010). "The general planning ideas of urban nature reserve: A study on Shenzhen Dapeng peninsula nature reserve." Urban Plann. Forum, 192(7), 54-59.
17. Liu, S., and Hite, D. (2013). "Measuring the effect of green space on property value: An application of the hedonic spatial quintile regression." Southern Agricultural Economics Association (SAEA) Annual Meeting, Vol. 2, IDEAS, St. Louis, 3-5.
18. Luttik, J. (2000). "The value of trees, water and open space as reflected by house prices in the Netherlands." Landscape Urban Plann., 48(3), 161-167.
19. Ma, C. (1995). "Study on the threshold of resources eco-economical system and sustainable utilization of resources." China Popul. Resour. Environ., 5(4), 17-21.
20. Mahan, B. L., Polasky, S., and Adams, R. M. (2000). "Valuing urban wetlands: A property price approach." Land. Econ., 76(1), 100-113.
21. Maimaitiyiming, M., et al. (2014). "Effects of green space spatial pattern on land surface temperature: Implications for sustainable urban planning and climate change adaptation." ISPRS J. Photogramm. Remote Sens., 89(3), 59-66.
22. Maller, C., Townsend, M., Pryor, A., Brown, P., and St Leger, L. (2006). "Healthy nature healthy people: 'Contact with nature' as an upstream health promotion intervention for populations." Health. Promot. Int., 21(1), 45-54.
23. Morancho, A. B. (2003). "A hedonic valuation of urban green areas." Landsc. Urban Plann., 66(1), 35-41.
24. Pan, Q. (2013). "The impacts of an urban light rail system on residential property values: A case study of the Houston METRORail transit line." Transp. Plann. Technol., 36(2), 145-169.
25. Poudyal, N. C., Hodges, D. G., and Merrett, C. D. (2009). "A hedonic analysis of the demand for and benefits of urban recreation parks." Land Use Policy, 26(4), 975-983.
26. Qiu, H., Jiang, D., and Yi, X. (2011). "Impacts of public landscape in Zhu Zhou city on the price of peripheral houses: Empirical research based on hedonic model." Econ. Geog., 31(12), 2005-2010.
27. Rosen, S. (1974). "Hedonic prices and implicit markets: Product differentiation in pure competition." J. Polit. Econ., 82(1), 34-55.
28. Sander, H. A., and Polasky, S. (2009). "The value of views and open space: Estimates from a hedonic pricing model for Ramsey County, Minnesota, USA." Land Use Policy, 26(3), 837-845.
29. Shi, Y., and Zhang, R. (2010). "Temporal-spatial impact effects of large-scale parks on residential prices exemplified by the Huangxing Park in Shanghai." Geog. Res., 29(3), 510-520.
30. Smith, V. K., Poulos, C., and Kim, H. (2002). "Treating open space as an urban amenity." Resour. Energy Econ., 24(1), 107-129.
31. SOFANG. (1999). "So Fang flagship website." (Nov. 3, 2012) (in Chinese).
32. Statistical Package for Social Sciences (SPSS 19.0) [Computer software]. Stanford, CA, Stanford Univ.
33. Sui, D. Z., and Zeng, H. (2001). "Modeling the dynamics of landscape structure in Asia's emerging desakota regions: A case study in Shenzhen." Landscape Urban Plann., 53(1), 37-52
34. Tyrväinen, L., and Miettinen, A. (2000). "Property prices and urban forest amenities." J. Environ. Econ. Manage., 39(2), 205-223.
35. Wang, D., and Huang, W. (2007). "Effect of urban environment on residential property values by hedonic method: A case study of Shanghai." City Plann. Rev., 31(9), 34-43.
36. Wang, Z., and Qin, W. (2009). "The research review of hedonic pricing method." Econ. Forum, 6(12), 129-131.
37. Wei, J. F., Wei, Y. G., and Jiang, K. (2014). "Study on the affecting factors of housing prices along rail transit based on hedonic price model: Case study of Beijing subway line 5." Appl. Mech. Mater., 507(6), 642-645.
38. Wen, H., and Jia, S. (2004). "Housing characteristics and hedonic price: Analysis based on hedonic price model." J. Zhejiang Univ. Sci., 38(10), 1338-1349.
39. Wen, H., and Li, X. (2012). "The effect of urban landscape on residential property value: A case study in Hangzhou." Geog. Res., 31(10), 1806-1814.
40. Wen, H., Pu, X., and Qin, Z. (2012). "The spatial effect of urban lakes on housing prices: The case of the West Lake in Hangzhou." Econ. Geog., 32(11), 58-64.
41. Wolf, K. L. (2007). "City trees and property values." Arborist News, 16(4), 34-36.
42. Wu, D., Guo, Z., and Chen, H. (2008). "Impact of lake landscape on urban residential property values in Nanjing." Resour. Sci., 30(10), 1503-1510.
43. Xie, G., and Zhang, B. (2012). "The effects of public green spaces on residential property value in Beijing." J. Resour. Ecol., 3(3), 243-252.
44. Yin, H., and Kong, F. (2003). "Accessibility analysis of urban green space in Jinan." J. Plant Ecol., 30(1), 17-24.
45. Yin, H., and Xu, J. (2009). "Impact of the amenity value of urban green space on the price of house in Shanghai." Acta. Ecologica Sinica, 29(8), 4492-4500.
46. Yusuf, A. A., and Resosudarmo, B. P. (2009). "Does clean air matter in developing countries' megacities? A hedonic price analysis of the Jakarta housing market, Indonesia." Ecol. Econ., 68(5), 1398-1407.
47. Zhang, B., and Xie, G. (2012). "The value-added effect of park green space on residential property in Beijing." Resour. Sci., 34(7), 1347-1353.
48. Zhong, H. Y., Zhang, A. L., and Cai, Y. Y. (2009). "Impacts of the Nanhu Lake in Wuhan City on the price of peripheral houses: Empirical research based on hedonic model." China Land Sci., 23(12), 63-68.
49. Zhou, H., Shi, P., Wang, J. A., Yu, D., and Gao, L. (2010). "Rapid urbanization and implications for river ecological services restoration: Case study in Shenzhen, China." J. Urban Plann. Dev., 10.1061/(ASCE)UP.1943-5444.0000051, 121-132.