Abstract
Identifying urban wetland's impact on housing prices and its amenity value has attracted much attentions. We estimate the heterogeneous price effects and amenity value of urban wetland for the Xixi National Wetland in Hangzhou, China, using the hedonic price method. By controlling for locational and community attributes, spatial and temporal effects, we found significant and heterogeneous amenity values for proximity to urban wetland. Urban wetland significantly increases housing values within the surrounding 5 km, and most significantly within 1 km. Proximity to the urban wetland by 1 km averagely increases housing prices by 195 yuan per square meter. Furthermore, proximity values for urban wetland have overall been increasing over the years, but vary throughout the housing market cycle.
| Original language | English |
|---|---|
| Pages (from-to) | 290-298 |
| Number of pages | 9 |
| Journal | Land Use Policy |
| Volume | 73 |
| DOIs | |
| State | Published - Apr 2018 |
| Externally published | Yes |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 11 Sustainable Cities and Communities
Keywords
- China
- Hedonic price method
- Housing prices
- Spatial dependence
- Temporal effect
- Urban wetlands
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