[1] Wang Jiayu, Jia Mengyuan, Chen Tian,. Testing of relationships among spatial accessibility, property characteristics and property value [J]. Journal of Southeast University (English Edition), 2022, 38 (3): 309-314. [doi:10.3969/j.issn.1003-7985.2022.03.013]

Copy

Testing of relationships among spatial accessibility, property characteristics and property value()

Share：

Journal of Southeast University (English Edition)[ISSN:1003-7985/CN:32-1325/N]

Volumn:

38

Issue:

2022 3

Page:

309-314

Research Field:

Architecture

Publishing date:

2022-09-20

Info

Title:

Testing of relationships among spatial accessibility, property characteristics and property value

Author(s):

Wang Jiayu¹;  Jia Mengyuan²;  Chen Tian¹

¹School of Architecture, Tianjin University, Tianjin 300072, China
²School of Architecture and Urban Planning, Beijing University of Civil Engineering and Architecture, Beijing 100044, China

Keywords:

hedonic model;  space syntax;  spatial accessibility;  house price

PACS:

TU984

DOI:

10.3969/j.issn.1003-7985.2022.03.013

Abstract:

A novel hedonic model based on spatial accessibility is proposed. This model changes the traditional planar hedonic model from two dimensional to three dimensional(3D). A 3D model through space syntax and quantum geographic information system platform was developed. Then, this model was tested through an analysis of 174 residential areas in Tianjin’s central district. Accordingly, the impact of 3D location characteristics on the property value was examined. The results suggest a positive correlation between spatial accessibility and property value on a city-wide scale. Mass transit may exert negative influences, such as traffic noise and air pollution. On submarket scales, the property value may be influenced by urban functions, historical background, and street layout. The negative correlation between the bedroom number and price reflects a higher real estate market investment value in the Heping District and the high demand for small and medium-sized houses in the Hongqiao and Hedong Districts. This study provides insights for improving neighborhood plans and housing design, and policy making concerned with promoting balanced progress of social, economic, and spatial priorities.

References:

[1] Jia M Y, Liu Y, Lieske S N, et al. Public policy change and its impact on urban expansion: An evaluation of 265 cities in China[J]. Land Use Policy, 2020, 97: 104754. DOI:10.1016/j.landusepol.2020.104754.
[2] Li K Y, Qin Y, Wu J. Recent housing affordability in urban China: A comprehensive overview[J].China Economic Review, 2020, 59: 101362. DOI:10.1016/j.chieco.2019.101362.
[3] Shih Y N, Li H C, Qin B. Housing price bubbles and inter-provincial spillover: Evidence from China[J].Habitat International, 2014, 43: 142-151. DOI:10.1016/j.habitatint.2014.02.008.
[4] Hamidi S, Bonakdar A, Keshavarzi G, et al. Do Urban Design qualities add to property values? An empirical analysis of the relationship between Urban Design qualities and property values[J]. Cities, 2020, 98: 102564. DOI:10.1016/j.cities.2019.102564.
[5] Matthews J W, Turnbull G K. Neighborhood street layout and property value: The interaction of accessibility and land use mix[J].The Journal of Real Estate Finance and Economics, 2007, 35(2): 111-141. DOI:10.1007/s11146-007-9035-9.
[6] Orford S. Valuing locational externalities: A GIS and multilevel modelling approach[J]. Environment and Planning B: Planning and Design, 2002, 29(1): 105-127. DOI:10.1068/b2780.
[7] Hillier B, Iida S. Network and psychological effects in urban movement[C]//International Conference on Spatial Information Theory. Berlin, Germany, 2005: 475-490.
[8] Huang B, Wu B, Barry M. Geographically and temporally weighted regression for modeling spatio-temporal variation in house prices[J]. International Journal of Geographical Information Science, 2010, 24(3): 383-401. DOI:10.1080/13658810802672469.
[9] Hillier B. Space is the machine: A configurational theory of architecture[M]. Cambridge, UK: Press Syndicate of the University of Cambridge, 2007: 25-37.
[10] Sharmin S, Kamruzzaman M. Meta-analysis of the relationships between space syntax measures and pedestrian movement[J]. Transport Reviews, 2018, 38(4): 524-550. DOI:10.1080/01441647.2017.1365101.
[11] Duan J, Hillier B. Urban Space: Space syntax and urban planning[M]. Nanjing: Southeast University Press: 166-173.
[12] Zhang Y L, Dong R C. Impacts of street-visible greenery on housing prices: Evidence from a hedonicprice model and a massive street view image dataset in Beijing[J]. ISPRS International Journal of Geo-Information, 2018, 7(3): 104. DOI:10.3390/ijgi7030104.

Memo

Memo:

Biographies: Wang Jiayu(1993—), female, Ph.D. candidate; Chen Tian(corresponding author), male, doctor, professor, chentian5561@vip.sina.com.
Foundation item: The National Natural Science Foundation of China(No.52078329).
Citation: Wang Jiayu, Jia Mengyuan, Chen Tian. Testing of relationships among spatial accessibility, property characteristics and property value[J].Journal of Southeast University(English Edition), 2022, 38(3):309-314.DOI:10.3969/j.issn.1003-7985.2022.03.013.

Common functions