原文传递
Capitalization of Urban Green Vegetation in a Housing Market with Poor Environmental Quality: Evidence from Beijing
| 题名： | Capitalization of Urban Green Vegetation in a Housing Market with Poor Environmental Quality: Evidence from Beijing |
| 其他题名： | Englin,J.,and R.Mendelsohn.1991."A hedonic travel cost analysis for valuation of multiple components of site quality:The recreation value of forest management."J.Environ.Econ.Manage.21(3):275-290.https://doi.org/10.1016/0095-0696(91)90031-D. |
| 正文语种： | 英文 |
| 作者： | Yingdan Mei |
| 关键词： | Urban green vegetation;Hedonic price model;Normalized difference vegetation index (NDVI);Spatial lag model |
| 摘要： | Urban green vegetation provides amenity value for urban residents and improves the living environment. These changes in value can be reflected in the variation of house prices. This paper uses a unique housing transaction data set to estimate the impact of urban green vegetation on house values in Beijing, China, using the hedonic price model. To measure urban green vegetation, we calculated the normalized difference vegetation index (NDVI) by time-series Landsat TM 8 remote-sensing imagery. For model specification, we applied spatial lag models to address spatial spillover effects that might lead to biased estimates if ignored. Spatial hedonic results indicate that urban green vegetation has a positive effect on residential housing prices when the measurement scale of NDVI value is smaller than or equal to 18.01 acres for each block of flats, whereas greater NDVI values generate a negative effect on property values if the scale is larger. This implies that urban green vegetation within 135 m could increase house prices in the range of 7.95-10.59％, which indicates a potential 20.2-26.9 billion yuan increase in the value of the sample real estate market in Beijing. |
| 出版年： | 2018 |
| 论文唯一标识： | P-84Y2018V144N03012 |
| 英文栏目名称： | CASE STUDIES |
| doi： | 10.1061/(ASCE)UP.1943-5444.0000458 |
| 期刊名称： | Journal of Urban Planning and Development |
| 拼音刊名(出版物代码)： | P-84 |
| 卷： | 144 |
| 期： | 03 |
| 页码： | 127-135 |
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