Three-dimensional land-use configuration and property prices: A spatially filtered multi-level modelling perspective

Wei Zheng and Mingshu Wang

Environment and Planning B, 2024, vol. 51, issue 2, 438-455

Abstract: The influence of neighbourhood characteristics on housing prices has gained increasing attention from scholars in recent decades. However, studies on the three-dimensional nature of urban space, and particularly the vertical dimension, have remained limited. This study investigates previously unexplored variables that can capture the vertical and horizontal dimensions of land-use configuration. In addition, this study proposes a spatially filtered multi-level approach to modelling variations in property values which can capture both spatial and multi-level effects. The research findings reveal a price premium for housing located in immediate neighbourhoods with more open mid-rise buildings and low plants . The results also demonstrate the varying effects of determinants of house pricing in spatially heterogeneous zones.

Keywords: Property value; three-dimensional land-use configuration; spatially filtered multi-level modelling; Beijing (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:sae:envirb:v:51:y:2024:i:2:p:438-455

DOI: 10.1177/23998083231180213

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