File Download

There are no files associated with this item.

  Links for fulltext
     (May Require Subscription)
Supplementary

Article: Measuring and interpreting the effects of a public-sector-led urban renewal project on housing prices - An empirical study of a comprehensive development area zone developed upon 'taking' in Hong Kong

TitleMeasuring and interpreting the effects of a public-sector-led urban renewal project on housing prices - An empirical study of a comprehensive development area zone developed upon 'taking' in Hong Kong
Authors
KeywordsNeighborhood
Panel data
Public sector
Urban design
Urban housing
Issue Date2007
PublisherPion Ltd.. The Journal's web site is located at http://www.envplan.com/B.html
Citation
Environment And Planning B: Planning And Design, 2007, v. 34 n. 3, p. 524-538 How to Cite?
AbstractStatutory zoning, as a regulatory tool, is generally considered as a means to introduce and maximize positive externalities and to preempt and internalize negative externalities; thence the land value of the regulated land and its immediate neighbourhood is enhanced. Yet, empirical evidence of the effects of zoning on land values has been conflicting. This paper empirically evaluates the panel data for a district in which two large-scale commercial properties have been developed in a comprehensive development area (CDA) statutorily rezoned from commercial/residential status on land taken by compulsory purchase by a public urban renewal agency in Hong Kong. A price gradient analysis is used to test the effects of such rezoning. The results show that the effect of the new CDA zoning on the prices of housing surrounding the CDA is uncertain. The Pigovian argument for the positive effect of zoning is therefore refuted as a justification for the zone under investigation, and the meaning of the finding for urban renewal planning is discussed. Some urban design factors that may have contributed to the failure of the projects are also discussed. © 2007 a Pion publication printed in Great Britain.
Persistent Identifierhttp://hdl.handle.net/10722/124378
ISSN
2015 Impact Factor: 1.195
2015 SCImago Journal Rankings: 0.582
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorLai, LWCen_HK
dc.contributor.authorChau, KWen_HK
dc.contributor.authorYiu, ECYen_HK
dc.contributor.authorWong, KSKen_HK
dc.contributor.authorWong, WSen_HK
dc.contributor.authorChan, PYLen_HK
dc.date.accessioned2010-10-31T10:31:05Z-
dc.date.available2010-10-31T10:31:05Z-
dc.date.issued2007en_HK
dc.identifier.citationEnvironment And Planning B: Planning And Design, 2007, v. 34 n. 3, p. 524-538en_HK
dc.identifier.issn0265-8135en_HK
dc.identifier.urihttp://hdl.handle.net/10722/124378-
dc.description.abstractStatutory zoning, as a regulatory tool, is generally considered as a means to introduce and maximize positive externalities and to preempt and internalize negative externalities; thence the land value of the regulated land and its immediate neighbourhood is enhanced. Yet, empirical evidence of the effects of zoning on land values has been conflicting. This paper empirically evaluates the panel data for a district in which two large-scale commercial properties have been developed in a comprehensive development area (CDA) statutorily rezoned from commercial/residential status on land taken by compulsory purchase by a public urban renewal agency in Hong Kong. A price gradient analysis is used to test the effects of such rezoning. The results show that the effect of the new CDA zoning on the prices of housing surrounding the CDA is uncertain. The Pigovian argument for the positive effect of zoning is therefore refuted as a justification for the zone under investigation, and the meaning of the finding for urban renewal planning is discussed. Some urban design factors that may have contributed to the failure of the projects are also discussed. © 2007 a Pion publication printed in Great Britain.en_HK
dc.languageengen_HK
dc.publisherPion Ltd.. The Journal's web site is located at http://www.envplan.com/B.htmlen_HK
dc.relation.ispartofEnvironment and Planning B: Planning and Designen_HK
dc.subjectNeighborhood-
dc.subjectPanel data-
dc.subjectPublic sector-
dc.subjectUrban design-
dc.subjectUrban housing-
dc.titleMeasuring and interpreting the effects of a public-sector-led urban renewal project on housing prices - An empirical study of a comprehensive development area zone developed upon 'taking' in Hong Kongen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0265-8135&volume=34&issue=3&spage=524&epage=538&date=2007&atitle=Measuring+and+interpreting+the+effects+of+a+public-sector-led+urban+renewal+project+on+housing+prices+-+An+empirical+study+of+a+comprehensive+development+area+zone+developed+upon+%27taking%27+in+Hong+Kong-
dc.identifier.emailLai, LWC: wclai@hku.hken_HK
dc.identifier.emailChau, KW: hrrbckw@hku.hken_HK
dc.identifier.emailYiu, ECY: ecyyiu@hkucc.hku.hken_HK
dc.identifier.authorityLai, LWC=rp01004en_HK
dc.identifier.authorityChau, KW=rp00993en_HK
dc.identifier.authorityYiu, ECY=rp01035en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1068/b31139en_HK
dc.identifier.scopuseid_2-s2.0-34250345251en_HK
dc.identifier.hkuros173778en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-34250345251&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume34en_HK
dc.identifier.issue3en_HK
dc.identifier.spage524en_HK
dc.identifier.epage538en_HK
dc.identifier.isiWOS:000247041500010-
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridLai, LWC=7202616218en_HK
dc.identifier.scopusauthoridChau, KW=24830082500en_HK
dc.identifier.scopusauthoridYiu, ECY=9248825800en_HK
dc.identifier.scopusauthoridWong, KSK=37096570500en_HK
dc.identifier.scopusauthoridWong, WS=26221456200en_HK
dc.identifier.scopusauthoridChan, PYL=16506346700en_HK

Export via OAI-PMH Interface in XML Formats


OR


Export to Other Non-XML Formats