Effect of an Open-air, Mixed-use Shopping Center on the Price of Nearby Residential Properties

Kholdy, Shady; Muhtaseb, Majed R.; Yu, Wei

doi:10.1080/10835547.2014.12091731

Cited by 5 publications

(3 citation statements)

References 35 publications

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“…The results show that shopping malls do have a positive effect on housing prices at a certain distance from the mall, but the effect turns negative at closer distances, owing to the noise, pollution and traffic congestion associated with shopping malls. Later, some scholars reached similar conclusions when using even more shopping mall samples, different transportation cost calculations or different function forms (Des Rosiers et al, 1996;Kholdy, Muhtaseb, & Yu, 2014;Sale, 2017;Sirpal, 1994;Yu et al, 2012;Zhang, Zhou, Hui, & Wen, 2019). In addition to the distance from the shopping mall, the scale of the shopping mall can also have an impact on housing prices.…”

Section: Literature Reviewmentioning

confidence: 85%

Which types of shopping malls affect housing prices? From the perspective of spatial accessibility

Zhang

Zhou

Hui

2020

Habitat International

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Section: Literature Reviewmentioning

confidence: 85%

Which types of shopping malls affect housing prices? From the perspective of spatial accessibility

Zhang

Zhou

Hui

2020

Habitat International

View full text Add to dashboard Cite

“…First, the hedonic price model was constructed and the influence degree of the mall on housing prices was captured by using the distance variables between the properties and the shopping mall. The distance is measured in Euclidean distances in common practice (Kholdy, Muhtaseb, & Yu, 2014;Ding, 2004;Wen & Tao, 2015). However, due to the uneven development of urban transport systems, Euclidean distances cannot represent the real accessibility of a region.…”

Section: The Model and Its Variablesmentioning

confidence: 99%

The Effects of a Shopping Mall on Housing Prices: A Case Study in Hangzhou

Zhang

Zhou

Hui

et al. 2018

International Journal of Strategic Property Management

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There are few studies on the externalities of shopping malls affecting the housing market. This study aims to discuss two issues: (1) What is the intensity of the impact of a shopping mall? (2) When does the external influence of a shopping mall begin to reveal itself? The West Intime Shopping Mall in Hangzhou offers a unique situation to research the questions. By dividing the study area into nine blocks, using hedonic price theory, and the price gradient approach with housing price data from 2011 to 2015, we found that in the space dimension, the mall exerted a significantly positive effect on the housing prices of nearby blocks. With the increase in distance from the mall, the positive effect decreased. There were more significantly positive effects in blocks far away from the city center. In the time dimension, the effects of West Intime did not reveal themselves until the mall had started to operate and gradually matured over time, implying that the mall did not have the obvious expected impact on housing prices before the mall had begun operating.

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“…Shops, schools and railway stations often have a positive impact on housing prices (Brennan, Olaru, & Smith, 2014;Wen, Zhang, & Zhang, 2014;Kong, Yin, & Nakagoshi, 2007;Des Rosiers, Lagana, & Thériault, 2001). However, the impact of some amenities, such as airports and open air shopping centre, might be seen as more contradictory because of their negative externalities (Kholdy, Muhtaseb, & Yu, 2014;Espey & Lopez, 2000). Also the high importance of landscape factors has been discovered in several studies: factors which have been identified as positive are vicinity of green areas (Tyrväinen, 1999;Kong, Yin, & Nakagoshi, 2007;Kovacs, 2012) and pleasant view (Damigos & Anyfantis, 2011), whereas close vicinity of high voltage overhead transmission lines might have a strongly negative impact (Han & Elliot, 2013).…”

Section: Residential Property Marketmentioning

confidence: 99%

Impact of Infill Development on Prices of Existing Apartments in Finnish Urban Neighbourhoods

Ahvenniemi

Pennanen

Knuuti

et al. 2018

International Journal of Strategic Property Management

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Popularity of infill development is increasing because of the environmental benefits and cost saving potential it provides, which relate to the possibility to use existing infrastructure and services. However, the impact of infill development on value of existing properties has not been studied to a sufficient extent. Therefore, the aim of our study is to analyse whether infill development affects the prices of existing apartments. We carried out statistical analysis based on data from seven case neighbourhoods, and prices of more than 6000 housing transactions from one decade. The results of our analysis do not support the hypothesis of infill development affecting positively existing housing prices, but neither did the study show a significant negative effect. Both amenity effect and negative externalities may provide explanations as to why property values do not change due to infill development.

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Effect of an Open-air, Mixed-use Shopping Center on the Price of Nearby Residential Properties

Cited by 5 publications

References 35 publications

Which types of shopping malls affect housing prices? From the perspective of spatial accessibility

Which types of shopping malls affect housing prices? From the perspective of spatial accessibility

The Effects of a Shopping Mall on Housing Prices: A Case Study in Hangzhou

Impact of Infill Development on Prices of Existing Apartments in Finnish Urban Neighbourhoods

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