Impact of different ecological landscapes on housing prices—empirical evidence from wuhan through the hedonic pricing model appraisal

《Impact of different ecological landscapes on housing prices—empirical evidence from wuhan through the hedonic pricing model appraisal》

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作者: Ke, Xiaoling;Yang, Chang;Shi, Wei;Mougharbel, Amal;Guo, Haixiang;Zheng, Moujun

摘要: A close relationship exists between ecological landscape and housing prices. Taking Wuhan as the research object, this paper establishes a series of spatial generalized additive models based on the hedonic method to explore the effects of different ecological landscapes such as lakes, rivers, mountains, and parks on house prices. Results are as follows: (1) Overall, lakes, parks, and mountains have price elasticity values of approximately 0.62%, 1.30%, and 0.81%, respectively. However, the price elasticity values of 2-km inner and outer lakes are 0.18% and 3.39% respectively, with similar results in other landscapes. The existence of lakes, parks, and mountains can trigger the increase in housing price percentages by 34.61%, 43.12%, and decrease by 25.09%, respectively. (2) The nonparametric form shows that the influence of lakes and parks on housing prices within 2 km constantly changes around zero. The influence of rivers is always positive, whereas the influence of mountains is always negative. (3) Interaction occurs between landscapes. In the situation of interaction with lakes, the elasticity values of the distance among rivers, mountains, and parks become 0.50%, − 0.32% and 0.90%, respectively. Future research should focus on the nonlinear characteristics and interactive effects of landscape premium.