The Heterogenous Demand for Urban Parks between Home Buyers and Renters: Evidence from Beijing

Tianzheng Zhang, Yingxiang Zeng, Yingjie Zhang, Yan Song and Hongxun Li
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Tianzheng Zhang: School of Economics and Management, Beijing Forestry University, Beijing 100083, China
Yingxiang Zeng: School of Economics and Management, Beijing Forestry University, Beijing 100083, China
Yingjie Zhang: School of Economics and Management, Beijing Forestry University, Beijing 100083, China
Yan Song: Department of City and Regional Planning, University of North Carolina at Chapel Hill, Chapel Hill, NC 27599, USA
Hongxun Li: School of Economics and Management, Beijing Forestry University, Beijing 100083, China

Sustainability, 2020, vol. 12, issue 21, 1-16

Abstract: Many studies have confirmed that there is demand among urban residents and renters for urban parks. Moreover, as renters and home buyers have very different levels of ownership over their housing resources, their demands for amenities can be heterogenous. To discover and identify such heterogeneous demands is worthy of attention. Using the micro-housing resale transactions and listing data for housing leases in Beijing during 2019, this paper explores the difference between the demand for urban parks among home buyers and renters outside the community from the perspective of the internal quality of the community by using the hedonic price model (HPM). Specifically, from the dimension of the property management service fee and greening rate, we find that for home buyers, compared to residents living in relatively poor-quality communities, a better-quality community will reduce the demand for urban parks outside the community. Conversely, for renters, the higher the quality of the community is, the higher the demand for urban parks outside the community will be.

Keywords: urban parks; home buyers; renters; hedonic price model; heterogeneous demand (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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