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Conference Paper: Estimating the Walking Accessibility Premiums

TitleEstimating the Walking Accessibility Premiums
Authors
Yang, L
Issue Date2018
PublisherSpringer.
Citation
Proceedings of the 21st International Symposium on Advancement of Construction Management and Real Estate (CRIOCM 2016), Hong Kong, 14-17 December 2016, p. 665-675 How to Cite?
DOI: http://dx.doi.org/10.1007/978-981-10-6190-5_60
AbstractWalking is a critical eco-friendly travel mode. Walking accessibility, the ease to reach essential destinations in the walk-in catchment area of a property, may affect this property’s price as good walking accessibility is significant from the perspective of mobility enhancement. Based on 1840 housing units in 380 multi- or high-story residential complexes in Xiamen Island, China, the paper develops a set of hedonic price models (one pre-specified and three Box-Cox transformed functional forms) to estimate, whether and to what extent, walking accessibility offers price premiums. It finds the followings: walking accessibility measures are highly robust and significant in all model specifications; walking accessibility contributes to explaining the variations in housing prices; walking accessibility to education and commercial facilities exerts positive effects on housing prices; walking accessibility to comprehensive hospitals affects housing prices negatively.
DescriptionThe conference was organized by the Chinese Research Institute of Construction Management (CRIOCM) working in close collaboration with the University of Hong Kong
Persistent Identifierhttp://hdl.handle.net/10722/263259
ISBN
9789811061899

 

DC FieldValueLanguage
dc.contributor.authorYang, L-
dc.date.accessioned2018-10-22T07:36:03Z-
dc.date.available2018-10-22T07:36:03Z-
dc.date.issued2018-
dc.identifier.citationProceedings of the 21st International Symposium on Advancement of Construction Management and Real Estate (CRIOCM 2016), Hong Kong, 14-17 December 2016, p. 665-675-
dc.identifier.isbn9789811061899-
dc.identifier.urihttp://hdl.handle.net/10722/263259-
dc.descriptionThe conference was organized by the Chinese Research Institute of Construction Management (CRIOCM) working in close collaboration with the University of Hong Kong-
dc.description.abstractWalking is a critical eco-friendly travel mode. Walking accessibility, the ease to reach essential destinations in the walk-in catchment area of a property, may affect this property’s price as good walking accessibility is significant from the perspective of mobility enhancement. Based on 1840 housing units in 380 multi- or high-story residential complexes in Xiamen Island, China, the paper develops a set of hedonic price models (one pre-specified and three Box-Cox transformed functional forms) to estimate, whether and to what extent, walking accessibility offers price premiums. It finds the followings: walking accessibility measures are highly robust and significant in all model specifications; walking accessibility contributes to explaining the variations in housing prices; walking accessibility to education and commercial facilities exerts positive effects on housing prices; walking accessibility to comprehensive hospitals affects housing prices negatively.-
dc.languageeng-
dc.publisherSpringer.-
dc.relation.ispartofProceedings of the 21st International Conference on Advancement of Construction Management and Real Estate, CRIOCM 2016-
dc.titleEstimating the Walking Accessibility Premiums-
dc.typeConference_Paper-
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1007/978-981-10-6190-5_60-
dc.identifier.scopuseid_2-s2.0-85044371157-
dc.identifier.hkuros294259-
dc.identifier.spage665-
dc.identifier.epage675-
dc.publisher.placeSingapore-

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