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作者

来源

JOURNAL OF URBAN PLANNING AND DEVELOPMENT,Vol.144,Issue3

语言

英文

关键字

Urban green vegetation; Hedonic price model; Normalized difference vegetation index (NDVI); Spatial lag model; RESIDENTIAL PROPERTY-VALUES; AMENITY VALUE; OPEN SPACE; PRICE; VALUATION; TREES; WATER; USA; BENEFITS; FORESTS

作者单位

[Mei, Yingdan; Zhao, Xiaoli; Gao, Li] China Univ Petr, Sch Business Adm, Beijing 102249, Peoples R China. [Lin, Lu] China Univ Petr, Acad Chinese Energy Strategy, Beijing 102249, Peoples R China. Lin, L (reprint author), China Univ Petr, Acad Chinese Energy Strategy, Beijing 102249, Peoples R China. E-Mail: meiyingdan@vip.sina.com; email99zxl@vip.sina.com; linlu26@hotmail.com; gao.456@osu.edu

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 135m could increase house prices in the range of 7.95-10.59%, which indicates a potential 20.2-26.9billion yuan increase in the value of the sample real estate market in Beijing.