Abstract
This paper attempts to investigate the spatial spillover effects of urban landscape views and the accessibility to amenities on the property price in CBD of Guangzhou city via spatial econometric analysis. The paper overcomes the shortcomings of the previous studies by employing an improved spatial weight matrix and providing a series of reasonable spatial model selection procedures. In addition to investigating the direct and indirect (spillover) effects, this study further explores the partitioning of direct and indirect effects, and finds out the impacts of the neighboring characteristics from close distance (immediate neighbors) to the far away distance on property price.
Its key finding suggests that people in CBD are willing to pay an extra premium for enjoying a better environment. It provides useful message to urban planners and developers that new properties can be built in the neighborhood of parks, enabling potential investors to have a park view.
Its key finding suggests that people in CBD are willing to pay an extra premium for enjoying a better environment. It provides useful message to urban planners and developers that new properties can be built in the neighborhood of parks, enabling potential investors to have a park view.
| Original language | English |
|---|---|
| Pages (from-to) | 26-35 |
| Number of pages | 10 |
| Journal | Applied Geography |
| Volume | 72 |
| DOIs | |
| Publication status | Published - Jul 2016 |
| Externally published | Yes |
Bibliographical note
The authors express appreciation to the anonymous reviewers for their valuable comments on this paper. The authors also thank Mr. Jiawei ZHONG for his technical and editorial assistance. This study was funded by the General Research Fund (B-Q42Q (PolyU 152059/14E)) and Hong Kong Polytechnic University’s Internal Grants (G-UA6V and G-UA6V).Keywords
- Urban landscape view
- Spatial durbin model
- Amenities
- Accessibility
- Housing markets
- Spillover effect
- CBD
