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Published in:
A Cluster Analysis of Real Estate Business Models in China Read chapter Read first chapter

2018 | OriginalPaper | Chapter

60. Estimating the Walking Accessibility Premiums

Author : Linchuan Yang

Published in: Proceedings of the 21st International Symposium on Advancement of Construction Management and Real Estate

Publisher: Springer Singapore

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Abstract

Walking is a critical eco-friendly travel mode. Walking accessibility, the ease to reach essential destinations in the walk-in catchment area of a property, may affect this property’s price as good walking accessibility is significant from the perspective of mobility enhancement. Based on 1840 housing units in 380 multi- or high-story residential complexes in Xiamen Island, China, the paper develops a set of hedonic price models (one pre-specified and three Box-Cox transformed functional forms) to estimate, whether and to what extent, walking accessibility offers price premiums. It finds the followings: walking accessibility measures are highly robust and significant in all model specifications; walking accessibility contributes to explaining the variations in housing prices; walking accessibility to education and commercial facilities exerts positive effects on housing prices; walking accessibility to comprehensive hospitals affects housing prices negatively.

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previous chapter Driving Factors for Promoting Urbanization of Small Towns in Southwest China
next chapter Evaluating the Critical Risk Factors of Reconstruction Urban Renewal Projects: The Developer’s Perspective in China
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Metadata
Title
Estimating the Walking Accessibility Premiums
Author
Linchuan Yang
Copyright Year
2018
Publisher
Springer Singapore
Book
Proceedings of the 21st International Symposium on Advancement of Construction Management and Real Estate

Print ISBN: 978-981-10-6189-9

Electronic ISBN: 978-981-10-6190-5

Copyright Year: 2018

DOI
https://doi.org/10.1007/978-981-10-6190-5_60