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Article: Space and scale: A study of development intensity and housing price in Hong Kong

TitleSpace and scale: A study of development intensity and housing price in Hong Kong
Authors
KeywordsDensity
Housing policy
Land use
Residential satisfaction
Urbanization
Issue Date2010
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/landurbplan
Citation
Landscape And Urban Planning, 2010, v. 96 n. 3, p. 172-182 How to Cite?
AbstractSustainable urbanization requires an intensive use of land for housing development to accommodate a fast-growing urban population. Large housing estates which comprise multi-storey housing blocks and a shared use of common facilities are often built to meet the housing needs. This study examines the relationship between development intensity of housing estate and housing price in the compact urban environment of Hong Kong. It posits that in addition to the internal flat size, the development intensity of housing estate can separately influence the value of individual housing unit. Housing development intensity in this study is theorized to involve both "spaciousness" and "scale" of the housing estate. The hypotheses are tested by a hedonic pricing model using 423 balanced transaction data of dwelling units from a random sample of 50 housing projects in a district of Hong Kong. The analysis has revealed that, while the buyers tend to pay more for a larger amount of internal and external housing space, there is an "ideal range" of development scale measured in terms of the total number of dwelling units in a housing estate. The policy implication to the hyper-dense cities like Hong Kong is that its urban planning and development control regulations should address the issues of development scale and neighborhood sharing of public space, rather than the level of total floor space, within a mass housing estate. © 2010 Elsevier B.V. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/125343
ISSN
2015 Impact Factor: 3.654
2015 SCImago Journal Rankings: 1.699
ISI Accession Number ID
Funding AgencyGrant Number
Research Grants Council of the Hong Kong Special Administrative Region, ChinaPolyU 5275/06E
Funding Information:

The authors thank Pui Yuen Lin, Simon Ka-wing Wong and Matthew Yan-ho Chung for research assistance and support in this study. We are also grateful to four anonymous reviewers for their constructive comments on the initial version of the manuscript. All remaining errors are the responsibilities of the authors. An earlier version of this study was presented at the 10th Asian Urbanization Conference in August 2009. The work described in this paper was fully supported by a grant from the Research Grants Council of the Hong Kong Special Administrative Region, China (Project No. PolyU 5275/06E).

References

 

DC FieldValueLanguage
dc.contributor.authorTang, Bsen_HK
dc.contributor.authorYiu, CYen_HK
dc.date.accessioned2010-10-31T11:25:49Z-
dc.date.available2010-10-31T11:25:49Z-
dc.date.issued2010en_HK
dc.identifier.citationLandscape And Urban Planning, 2010, v. 96 n. 3, p. 172-182en_HK
dc.identifier.issn0169-2046en_HK
dc.identifier.urihttp://hdl.handle.net/10722/125343-
dc.description.abstractSustainable urbanization requires an intensive use of land for housing development to accommodate a fast-growing urban population. Large housing estates which comprise multi-storey housing blocks and a shared use of common facilities are often built to meet the housing needs. This study examines the relationship between development intensity of housing estate and housing price in the compact urban environment of Hong Kong. It posits that in addition to the internal flat size, the development intensity of housing estate can separately influence the value of individual housing unit. Housing development intensity in this study is theorized to involve both "spaciousness" and "scale" of the housing estate. The hypotheses are tested by a hedonic pricing model using 423 balanced transaction data of dwelling units from a random sample of 50 housing projects in a district of Hong Kong. The analysis has revealed that, while the buyers tend to pay more for a larger amount of internal and external housing space, there is an "ideal range" of development scale measured in terms of the total number of dwelling units in a housing estate. The policy implication to the hyper-dense cities like Hong Kong is that its urban planning and development control regulations should address the issues of development scale and neighborhood sharing of public space, rather than the level of total floor space, within a mass housing estate. © 2010 Elsevier B.V. All rights reserved.en_HK
dc.languageengen_HK
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/landurbplanen_HK
dc.relation.ispartofLandscape and Urban Planningen_HK
dc.subjectDensityen_HK
dc.subjectHousing policyen_HK
dc.subjectLand useen_HK
dc.subjectResidential satisfactionen_HK
dc.subjectUrbanizationen_HK
dc.titleSpace and scale: A study of development intensity and housing price in Hong Kongen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0169-2046&volume=96&issue=3&spage=172&epage=182&date=2010&atitle=Space+and+scale:+a+study+of+development+intensity+and+housing+price+in+Hong+Kongen_HK
dc.identifier.emailTang, Bs: bsbstang@hku.hken_HK
dc.identifier.emailYiu, CY: ecyyiu@hkucc.hku.hken_HK
dc.identifier.authorityTang, Bs=rp01646en_HK
dc.identifier.authorityYiu, CY=rp01035en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/j.landurbplan.2010.03.005en_HK
dc.identifier.scopuseid_2-s2.0-77953133610en_HK
dc.identifier.hkuros175587en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-77953133610&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume96en_HK
dc.identifier.issue3en_HK
dc.identifier.spage172en_HK
dc.identifier.epage182en_HK
dc.identifier.isiWOS:000279228100005-
dc.publisher.placeNetherlandsen_HK
dc.identifier.scopusauthoridTang, Bs=7402560881en_HK
dc.identifier.scopusauthoridYiu, CY=9248825800en_HK
dc.identifier.citeulike7067165-

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