Spatial effect of river landscape on housing price: An empirical study on the Grand Canal in Hangzhou, China

Habitat International

Volumn 63, Issue , 2017, Pages 34-44

  Wen, Haizhen ^a   Xiao, Yue ^a   Zhang, Ling ^a  

^a ZHEJIANG UNIVERSITY   (China)

Author keywords

Hedonic price model; Housing price; Landscape effect; Spatial econometric model; Spatial heterogeneity

Indexed keywords

ECONOMETRICS; EMPIRICAL ANALYSIS; HEDONIC ANALYSIS; HOUSING MARKET; PRICE DYNAMICS; RIVER; SPATIAL ANALYSIS;

CHINA; GRAND CANAL; HANGZHOU; ZHEJIANG;

EID: 85016042349     PISSN: 01973975     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.habitatint.2017.03.007     Document Type: Article

References (44)

1. Anderson, S.T., West, S.E., Open space, residential property values, and spatial context. Regional Science & Urban Economics 36:6 (2006), 773–789.
2. Anselin, L., Spatial Econometrics: Methods and models. 1988, Kluwer Academic Publishers.
3. Ara, S., Irwin, E., Haab, T., The Influence of Water Quality on The Housing Price Around Lake Erie. July 23–26, 2006 The American Agricultural Economics Association Annual Meeting, Long Beach, California.
4. Basu, S., Thibodeau, T.G., Analysis of spatial autocorrelation in house prices. Journal of Real Estate Finance & Economics 17:1 (1998), 61–85.
5. Bourassa, S.C., Hoesli, M., Peng, V.S., Do housing submarkets really matter?. Journal of Housing Economics 12:1 (2003), 12–28.
6. Yiu, C.Y., Wong, S.K., The effects of expected transport improvements on housing prices. Urban Studies 42:1 (2008), 113–125.
7. Chen, W.Y., Jim, C.Y., Amenities and disamenities: A hedonic analysis of the heterogeneous urban landscape in Shenzhen (China). Geographical Journal 176:3 (2010), 227–240.
8. Deaton, B.J., Hoehn, J.P., Hedonic analysis of hazardous waste sites in the presence of other urban disamenities. Environmental Science & Policy 7:6 (2004), 499–508.
9. Dubin, R.A., Spatial autocorrelation: A primer. Journal of Housing Economics 7:4 (1998), 304–327.
10. Geoghegan, J., Wainger, L.A., Bockstael, N.E., Spatial landscape indices in a hedonic Framework: An ecological economics analysis using GIS. Ecological Economics 23:3 (1997), 251–264.
11. Gibbons, S., Mourato, S., Resende, G.M., The amenity value of english nature: A hedonic price approach. Environmental & Resource Economics 57:2 (2014), 175–196.
12. Goodman, A.C., Externalities and nonmonotonic price-distance functions. Urban Studies 16 (1979), 321–328.
13. Hammer, T.R., Coughlin, R.E., IV, E.T.H., The effect of a large urban park on real estate value. Journal of the American Institute of Planners 40:4 (1974), 274–277.
14. Hill, E.S., Pugh, S., Jeffrey, Use of the hedonic method to estimate lake sedimentation impacts on property values in mountain park and Roswell, GA. Tshe American Agricultural Economics Association Annual Meeting, 2007.
15. Hui, E.C.M., Zhong, J.W., Yu, K.H., The impact of landscape views and storey levels on property prices. Landscape & Urban Planning 105:s 1–2 (2012), 86–93.
16. Jiao, L., Liu, Y., Geographic field model based hedonic valuation of urban open spaces in Wuhan, China. Landscape & Urban Planning 98:1 (2010), 47–55.
17. Jim, C.Y., Chen, W.Y., Impacts of urban environmental elements on residential housing prices in Guangzhou (China). Landscape & Urban Planning 78:4 (2006), 422–434.
18. Jim, C.Y., Chen, W.Y., Value of scenic Views: Hedonic assessment of private housing in Hong Kong. Landscape & Urban Planning 91:4 (2009), 226–234.
19. Jim, C.Y., Chen, W.Y., External effects of neighborhood parks and landscape elements on high-rise residential value. Land Use Policy 27:2 (2010), 662–670.
20. Kong, F., Yin, H., Nakagoshi, N., 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 Planning 79:3–4 (2007), 240–252.
21. Lancaster, K.J., A New approach to consumer theory. Journal of Political Economy 74:2 (1966), 132–157.
22. Lansford, N.H., Jones, L.L., Recreational and aesthetic value of water using hedonic price analysis. Journal of Agricultural & Resource Economics 20:02 (1995), 341–355.
23. Li, M.M., Brown, H.J., Micro-neighborhood externalities and hedonic housing prices. Land Economics 56 (1980), 125–141.
24. Loomis, J., Feldman, M., Estimating the benefits of maintaining adequate lake levels to homeowners using the hedonic property method. Water Resources Research 39:9 (2003), 1–2.
25. Luttik, J., The value of trees, water and open space as reflected by house prices in The Netherlands. Landscape & Urban Planning 48:3–4 (2000), 161–167.
26. Mahan, B.L., Adams, R.M., Valuing urban wetlands: A property price approach. Valuing Urban Wetlands A Property Pricing Approach 76:1 (2000), 100–113.
27. Major, C., Lusht, K.M., Beach proximity and the distribution of property values in shore xommunities. Appraisal Journal, 72(4), 2004.
28. Nilsson, P., Natural amenities in urban space: A geographically weighted regression approach. Landscape & Urban Planning 121:1 (2014), 45–54.
29. Peiser, R.B., Schwann, G.M., The private value of public open space within subdivisions. Journal of Architectural & Planning Research 10:2 (1993), 91–104.
30. Rosen, S., Hedonic prices and implicit Markets: Product differentiation in pure competition. Upsala Journal of Medical Sciences 82:2 (1974), 134–137.
31. Sander, H.A., Polasky, S., The value of views and open Space: Estimates from a hedonic pricing model for ramsey county, Minnesota, USA. Land Use Policy 26:3 (2009), 837–845.
32. Schläpfer, F., Waltert, F., Segura, L., Kienast, F., Valuation of landscape amenities: A hedonic pricing analysis of housing rents in urban, Suburban and Periurban Switzerland. Landscape & Urban Planning 141 (2015), 24–40.
33. Sengupta, S., Osgood, D.E., The value of remoteness: A hedonic estimation of ranchette prices. Ecological Economics 44:1 (2003), 91–103.
34. Shi, Y.S., Zhang, L., Temporal-spatial impacts of large green space on housing price: A case study of Huang Xing park in Shanghai. Geographical Research 29:3 (2010), 510–520.
35. Tyrväinen, L., The amenity value of the urban Forest: An application of the hedonic pricing method. Landscape & Urban Planning 37:97 (1997), 211–222.
36. Waltert, F., Schläpfer, F., Landscape amenities and local development: A review of migration, regional economic and hedonic pricing studies. Ecological Economics 70:2 (2010), 141–152.
37. Wang, Y., Zhao, L., Leszek, S., Guan, X., Wang, S., Impact of urban landscape and environmental externalities on spatial differentiation of housing prices in Yangzhou city. Journal of Geographical Sciences 25:9 (2015), 1122–1136.
38. Wen, H., Bu, X., Qin, Z., Spatial effect of lake landscape on housing price: A case study of the West lake in Hangzhou, China. Habitat International 44 (2014), 31–40.
39. Wen, H.Z., Jia, S.H., Housing characteristics and hedonic Price: An analysis based on the hedonic price model. Journal of Zhejiang University(Engineering Science) 38:10 (2004), 1338–1342.
40. Wen, H.Z., Li, X.N., Zhang, L., The effect of urban landscape on housing price: A case study of Hangzhou. Geographical Research 31:10 (2012), 1806–1814.
41. Wen, H., Tao, Y., Polycentric urban structure and housing price in the transitional China: Evidence from Hangzhou. Habitat International 46 (2015), 138–146.
42. Wen, H.Z., Zhang, Z.L., Zhang, L., Empirical study of spatial effect of housing price based on the spatial econometric model: A case study of Hangzhou. System Engineering Theory and Practice 31:9 (2011), 1661–1667.
43. Wen, H.Z., Zhang, Y., Zhang, L., Assessing amenity effects of urban landscapes on housing price in Hangzhou, China. Urban Forestry & Urban Greening 14:4 (2015), 1017–1026.
44. Zhong, H.Y., Zhang, A.L., Cai, Y.Y., The effect of the south Lake on housing price in Wuhan: An empirical study based on the hedonic model. China Land Science 23:12 (2009), 63–68.