Multiscale Impacts of Land Environmental Features and Planning on Apartment Resale Prices in Jinan City, China

Jiaqian Xu, Zhihua Zhang () and M. James C. Crabbe
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Jiaqian Xu: Interdisciplinary Big Data Mining Group, School of Mathematics, Shandong University, Jinan 250100, China
Zhihua Zhang: Interdisciplinary Big Data Mining Group, School of Mathematics, Shandong University, Jinan 250100, China
M. James C. Crabbe: Wolfson College, Oxford University, Oxford OX2 6UD, UK

Land, 2024, vol. 13, issue 7, 1-17

Abstract: As a typical city with a population of 5 to 10 million in China, Jinan has undergone significant increases in land supply during the past decade, resulting in substantial volatility in apartment sale/resale market prices. In this study, we investigated all second-hand apartment transactions from 826 communities of Jinan city and explored the multiscale impacts of land environmental features and planning on apartment resale prices throughout the city. Specifically, central and eastern regions had significantly positive impacts on apartment resale prices, while western regions had significantly negative impacts; education resources had consistently positive impacts throughout the city while shopping, business buildings, and medical resources had insignificant impacts; subway stations had insignificant impacts and bus stations had significant effects only in congestion points and northeastern edges. Our results revealed the formation mechanisms and spatial heterogeneity of apartment resale prices in Jinan. Our work will not only help in the decision making of potential apartment purchasers, but will also be conducive to enhancing the spatial justice of local governments in land supply and planning policies.

Keywords: apartment resale prices; land environmental features; facilities accessibility; Jinan city; multiscale impacts (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2024
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