Spatial spillover effect of urban landscape views on property price

Hui, Eddie C.M.; Liang, Cong

doi:10.1016/j.apgeog.2016.05.006

Cited by 49 publications

(20 citation statements)

References 46 publications

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“…A host of spatial econometric models, such as the spatial lag model (SLM), the spatial error model (SEM), and the spatial Durbin model (SDM), can address the spatial autocorrelation issue, and they have been widely used to explain the relationship between property prices and property characteristics [54][55][56][57][58]. The SLM and the SEM are two basic spatial econometric models and focus on the endogenous interaction relationship (or spatial interaction in the dependent variable) and the correlated relationship (or spatial interaction in the error term), respectively.…”

Section: Methodsmentioning

confidence: 99%

“…The SDM jointly considers the spatial dependence of the dependent variable and that of independent variables [57,58,60,61] and allows for prices and hedonic characteristics of nearby properties to shape the price of a specific property. The SDM is proved to outperform the two basic models (the SLM and the SEM) and even regarded as "the only means of producing unbiased coefficient estimates" (p. 26) [61].…”

Section: Methodsmentioning

confidence: 99%

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Impacts of Tourism Demand on Retail Property Prices in a Shopping Destination

2020

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Understanding the relationship between tourism demand and retail property prices is of great significance to tourist destinations, especially shopping destinations. The increase in tourism demand may alter the implicit prices of certain retail property characteristics (e.g., age and accessibility to transit). This study examines how tourism demand (measured by tourist volume) affects retail property prices in the tourist precinct of a shopping destination, namely Hong Kong. The implementation of the policy Individual Visit Scheme (IVS) in 2003 in Hong Kong has substantially increased tourist shoppers from Mainland China, and it is used as a quasi-natural experiment of the increased tourist volume. Spatial and non-spatial hedonic pricing models are developed based on the ground-floor retail property transaction data of Causeway Bay, Hong Kong before and after the IVS (1993–2011). The findings of this study are as follows. (1) Accessibility to transit has a larger positive price effect after the implementation of the IVS. (2) The implicit price of accessibility to accommodation facilities is not significantly altered by the implementation of the IVS. (3) Age has a larger negative price effect after the implementation of the IVS. The first two outcomes are related to the economic concerns of tourist shoppers, while the last can be explained by their hometown experience. Finally, practical implications are discussed.

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Section: Methodsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Impacts of Tourism Demand on Retail Property Prices in a Shopping Destination

2020

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“…According to the spillover approach, several authors found that beneficial or detrimental effects of public expenditure (i.e., with regards to spending on infrastructure and road building, environmental services, recreation and cultural facilities, etc.) spread over the administrative boundary of one jurisdiction and affect the welfare of the residents of neighbouring jurisdictions (Baicker, ; Brueckner, ; Freret, ; Hui & Liang, ; Kelejian & Robinson, ; Revelli, , ; Schaltegger & Zemp, ; Solé‐Ollé, ). Within these models, a jurisdiction policy change on public expenditure and/or on tax revenues produces a strategic incentive for neighbouring jurisdiction to change their own policies.…”

Section: The Sources Of Spatial Interdependencementioning

confidence: 99%

Spatial interactions in property tax policies among Italian municipalities

Bocci¹,

Ferretti²,

Lattarulo³

2019

Papers in Regional Science

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This paper aims to estimate, through the use of a spatial model, the determinants of fiscal policies on property tax adopted by Italian municipalities in 2014, to assess the existence of strategic interactions influencing their revenue decisions and, finally, to investigate the possible sources of such tax mimicking. The analysis evaluates the impact of political and socio-economic variables on the local policy decisions and confirms that the choices on property tax are influenced by the neighbouring municipalities' behaviour.With regard to the tax mimicking sources, results highlight that the imitative behaviour among municipalities on their tax policy is determined mainly from spillover effects, with a decreasing effect in relation to municipal size.

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“…A substantial number of studies have been published on the external effects of urban public service resources on housing prices. Their focus has been schools, parks, subways, and other public service facilities that are closely related to the lives of residents [3,[11][12][13][14][15]. In terms of educational resources, quality education resources often show a significant premium effect.…”

Section: Introductionmentioning

confidence: 99%

Spatial Effects of Public Service Facilities Accessibility on Housing Prices: A Case Study of Xi’an, China

Lan

Zhou

et al. 2018

Sustainability

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The premium effect of public service facilities on the housing market is a critical determinant of housing prices, leading to the competition of different social groups in the housing market and fueling spatial inequality. Taking Xi’an, China as a case in point, this study uses Geographic Information System (GIS) to describe the spatial distribution pattern of housing prices and urban public service facilities. Using the mixed geographically weighted regression model (MGWR) and the geographical detector model (GD), this study reveals the spatial effects of these facilities’ accessibility on housing prices. The results show that commercial and leisure facilities are spatially stationary, whereas a non-stationary effect is observed among those providing educational, medical, cultural, sport, and financial services. From the urban spatial resource allocation perspective, facilities meeting people’s basic needs, such as medical care and education, constitute the basic elements of housing price differentiation. When any two of these interact, a bivariate-enhanced effect emerges. The decisive interactive elements of housing price differentiation involve the facilities meeting people’s higher-level needs, such as leisure, culture, sports, and finance. When these interactive elements interact with other facilities, a non-linear enhancement effect is induced. This research is of practical value for improving people’s living quality, optimizing the spatial distribution of public service facilities, and eliminating urban spatial inequality.

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Spatial spillover effect of urban landscape views on property price

Cited by 49 publications

References 46 publications

Impacts of Tourism Demand on Retail Property Prices in a Shopping Destination

Impacts of Tourism Demand on Retail Property Prices in a Shopping Destination

Spatial interactions in property tax policies among Italian municipalities

Spatial Effects of Public Service Facilities Accessibility on Housing Prices: A Case Study of Xi’an, China

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