The Impact of the Type and Abundance of Urban Blue Space on House Prices: A Case Study of Eight Megacities in China

Chucai Peng, Yang Xiang, Luxia Chen, Yangyang Zhang and Zhixiang Zhou ()
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Chucai Peng: College of Horticulture and Forestry Sciences, Hubei Engineering Technology Research Center for Forestry Information, Huazhong Agricultural University, Wuhan 430070, China
Yang Xiang: College of Horticulture and Forestry Sciences, Hubei Engineering Technology Research Center for Forestry Information, Huazhong Agricultural University, Wuhan 430070, China
Luxia Chen: College of Horticulture and Forestry Sciences, Hubei Engineering Technology Research Center for Forestry Information, Huazhong Agricultural University, Wuhan 430070, China
Yangyang Zhang: College of Horticulture and Forestry Sciences, Hubei Engineering Technology Research Center for Forestry Information, Huazhong Agricultural University, Wuhan 430070, China
Zhixiang Zhou: College of Horticulture and Forestry Sciences, Hubei Engineering Technology Research Center for Forestry Information, Huazhong Agricultural University, Wuhan 430070, China

Land, 2023, vol. 12, issue 4, 1-27

Abstract: Urban blue spaces (UBS) have been shown to provide a multitude of cultural ecosystem services to urban residents, while also having a considerable impact on the surrounding community’s house prices. However, the impact of different types of UBS and the effect of their abundance on house prices have been largely understudied. This study aims to address this gap by examining the impact of different types of UBS on house prices using eight megacities in China as a case study. Spatial hedonic price models are developed to assess the impact of different types of UBS on house prices, and differences in their impact across cities are identified. Variance partitioning analysis is also used to decompose the relative contributions of UBS variables and explore the relationship between UBS-attributable premiums and the abundance of UBS. The results indicate that lakes and the main river have a significant positive impact on house prices in most cities, while the impact of small rivers on house prices varies across cities. The influence of UBS variables differs significantly across cities, but these differences are not solely driven by the abundance of UBS. This study provides valuable information for UBS planning and management and contributes to the equitable distribution of urban public services.

Keywords: hedonic price model; abundance; urban blue spaces; house prices; multi-cities (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jlands:v:12:y:2023:i:4:p:865-:d:1120912

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