| Title |
Comparing the Impacts of Location Attributes on Residents' Preferences and Residential Values in Compact Cities: A Case Study of Hong Kong |
| ID_Doc |
75397 |
| Authors |
Bai, YX; Song, JS; Wu, SS; Wang, W; Lo, JTY; Lo, SM |
| Title |
Comparing the Impacts of Location Attributes on Residents' Preferences and Residential Values in Compact Cities: A Case Study of Hong Kong |
| Year |
2020 |
| Published |
Sustainability, 12, 12 |
| DOI |
10.3390/su12124867 |
| Abstract |
In recent years, environmentally-friendly, sustainable, and compact development has become increasingly popular with governments. An extensive body of literature has focused on the influence on housing prices from an economic perspective. Although residential urban planning from the perspective of individual needs must be considered, little attention has been paid to residents' demands in high-density and compact urban areas. In this study, we selected Hong Kong as the case and adopted a reliability interval method to rank residential attitude metrics, which indicated residents' neighborhood needs in densely populated cities. The influences of location attributes on residents' demands and residential value were compared. A hedonic price model was used to estimate the impacts of the attributes on housing prices. The results showed that both access to metro stations and median household income had important influences on residents' preferences and housing prices. However, access to the central business district contributed largely to housing prices but not to residents' attitudes. These findings support urban planners and policy makers during sustainable residential planning and policy formation by understanding residents' needs in compact urban areas, help them to optimize the match between housing attributes and residents' expectations, and balance the relationship between residents' needs and economic interest. |
| Author Keywords |
residential preference; compact development; sustainability; reliability interval method; hedonic price model |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Science Citation Index Expanded (SCI-EXPANDED); Social Science Citation Index (SSCI) |
| EID |
WOS:000549233700001 |
| WoS Category |
Green & Sustainable Science & Technology; Environmental Sciences; Environmental Studies |
| Research Area |
Science & Technology - Other Topics; Environmental Sciences & Ecology |
| PDF |
https://www.mdpi.com/2071-1050/12/12/4867/pdf?version=1592212164
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