Impact of urban forests on housing prices in Nanjing

Liao Wang 서울시립대학교 국제도시과학대학원 2022 국내석사

This study conducts exploratory research on the impact of urban forests on housing prices to find out the relationship between housing prices and distance from the urban forest, so that to announce the value of urban forestry. The study takes Nanjing city as the case study, applies the hedonic prices method as the research guide, utilizes GIS technology as the tool to measure the distance, and the multiple linear regression method to explore the impact of urban forests on urban housing prices. During the study, all the residential areas (totally 125 units) in the south of Zhongshan scenic spot in Nanjing city within a 3km straight line distance from the mountain are chosen. The factors related to housing prices such as housing age, bus, subway, hospital, school, distance to CBD, and distance to the urban forest are considered. The result of the study shows that the effect of urban forests on housing prices is statistically significant. 1km far away from the urban forest, around 3375.80 Yuan/m2 will be lost. Thus, urban forests can bring obvious value and benefits to the city, so that to affect housing value and price. 본 연구는 도시숲이 주택가격에 미치는 영향에 대한 탐색적 연구를 통해 주택가격과 도시숲과의 거리 간 관계를 규명하고 도시임업의 가치를 알리고자 한다. 본 연구는 난징시를 사례 연구로 채택했고 헤도닉 가격방법(Hedonic Prices Method)을 연구 지침으로 적용했으며, 거리 측정 도구로 GIS 기술을 활용하고 도시숲이 도시 주택 가격에 미치는 영향을 파악하기 위해 다중 선형 회귀 방법을 사용했다. 연구가 진행되는 동안 산에서 직선거리 3km 이내 난징시 중산(Zhongshan) 경승지 남쪽에 위치한 모든 주거 지역(총 125개 주택)이 선택되었다. 주택연식, 버스, 지하철, 병원, 학교, 도심까지의 거리, 도시숲과의 거리 등 주택가격과 관련된 요인이 고려되었다. 연구 결과, 도시숲이 주택가격에 미치는 영향은 통계적으로 유의한 것으로 나타났다. 도시숲에서 1km 떨어진 곳의 경우, 약 3375.80 위안/m2가 손실되는 것으로 파악되었다. 따라서 도시숲은 도시에 명백한 가치와 이점을 가져다 줄 수 있으므로 주택 가치와 가격에 영향을 미칠 것으로 판단된다.

헤도닉가격접근법을 이용한 도시녹지 서비스의 경제적 가치 추정 : 전주시 아파트 단지를 사례로

김진옥 전북대학교 일반대학원 2017 국내박사

The purpose of this paper is to estimate the economic value of green space services provided by urban green space by applying hedonic price method based on the case of apartments in Jeonju city. As the type of urban green space, this research selected total 4 types of urban green space including the green space within apartment complex, besides mountain· forest, river· stream· lake, and city park for analysis. This research intended to measure unlimited convenience that apartment residents enjoy out of urban green service inside· outside apartment complex, without stopping at measurement of marginal value through the estimation of hedonic price function for the first time in urban green service field. In the process, this research systematically illuminated and analyzed the establishment of sample material, measurement of green service variable, selection of function form, verification of spatial dependency, and the matter of determination of demand curve, which had been discussed in previous researches. This research selected apartment complexes in Jeonju city sized over 300 houses as the analysis target, and established 2 sample data utilizing the survey data besides 2015 apartment real transaction price. Sample data of real transaction price utilized in analysis was based on 7,923 houses from 170 complexes, and the survey samples were 322 houses from 80 complexes. To presume hedonic price function, this research utilized distance, extent, attraction index, and view, etc. as the variables that represent the level of service of each urban green space. Before assumption of hedonic price function, as the result of comparing basic statistics value by dividing the two samples into two administrative areas, Deokjin-gu and Wansan-gu, a difference appeared in house market of the two administrative areas. Therefore, in respect of assumption of hedonic price function, real transaction price sample was departmentalized into two administrative areas, and the whole sample of Jeonju city was utilized for survey sample. As the result of investigating the assumption of hedonic price function, double-log function appeared proper for real transaction price sample in case of priority function form, while semi-log function for survey sample. As the result of analyzing spatial model due to existence of spatial dependency in both samples, spatial autoregressive model (SAR) appeared proper. When investigating the presumption result of variables, both of two samples coincided with the advanced research in respect of exclusive use space, physical characteristic of house such as level, characteristic of complex such as ground· underground parking lot, and neighborhood characteristic such as whether of existence of general hospital, etc. Both of two samples displayed affirmative (+) influence of the extent compared to distance between green area within the complex and city park on the apartment price. Also, in the survey sample, distance from the river· stream· lake negatively (-) influenced apartment price, while the view of river· stream· lake affirmatively (+) influenced apartment price. This research presumed convenience by assuming marginal willingness to pay function based on the subordinate value after deriving implicit price using green variables that significantly influenced apartment price statistically. As the result of measuring the convenience of each city green type using coefficient estimation of presumed payment intention function, in case of real transaction price sample, annual convenience per house on green service within the complex appeared 41,681won, while in case of survey sample, 72,623won. Annual convenience per house on the service provided by city park around the complex displayed 233,034won ~ 386,529won, in case of real transaction price sample, while survey sample 122,6904won ~ 240,029won, accordingly, convenience assumption result value appeared similar in the two samples. In respect of river· stream· lake, which significantly appeared statistically only in survey sample, annual convenience per house appeared 103,371won in case of view, and 111,972won in case of accessibility.

Valuation of olympic park and boramae park by using hedonic price method

박진한 서울대학교 대학원 2014 국내석사

The ecosystem provides individuals with a variety of benefits. Parks in particular provide a number of benefits, including recreational, leisure, and educational opportunities. Generally speaking, people are well aware of the value of the benefits that urban parks offer. This study estimates, through the use of hedonic price methods (HPM), the populace’s willingness to pay (WTP) for Olympic Park and Boramae Park in Seoul, South Korea. HPM constitute one type of valuation method for nonmarket goods. All else being equal, individuals generally prefer to live in a house located near a park; this preference is seen in the prices of apartment rentals and real estate. It makes sense, then, that this study would use an HPM model. The dataset used comprises real transaction prices from Sungnae-dong and Sindaebang-dong in 2012, and four function types are used. Variables were chosen after undertaking a literature review and expert interviews. The independent variables include square area of a household, the age of the building (i.e., year of completion), the floor of a household within a building, the number of households in an apartment complex, the distance to the nearest entrance of an elementary school, the distance to the nearest subway station, the distance to the nearest bus stop, whether or not there is a park view from a household, and the distance to the nearest park entrance. The results of regression analyses were as follows. When someone who lives in Sungnae-dong buys a house, the household’s WTP to be 1 m closer to Olympic Park is equal to 1% of the unit price. At the same time, this factor can be considered to have a monetary value: about 1,000 won (KRW) per 1 m closer in the log function regression, and about KRW 2,000 in the linear regression. For Boramae Park, residents who live in Sindaebang-dong assign a WTP value that equals 2% of the unit price of a home; that monetary value is about KRW 2,000 by log function regression and about KRW 3,500 by linear regression. The price of an apartment that has a view of Boramae Park can be as much as 9.5% higher than one that does not. In addition, this study determines mathematically the range of influence of park proximity on an apartment’s value. The value of is 212.42 m (semi-log function of Olympic Park), 337.17 m (log function of Olympic Park), 578.23 m (semi-log function of Boramae Park), and 900.35 m (log function of Boramae Park). These results indicate that the range of influence of Boramae Park is larger than that of Olympic Park. The monetary value of living within the vicinity of one of these two parks is not of significant size. The value is “set” by the users, and so the value of the park relates to accessibility. The study results indicate that Boramae Park is more valuable to those that live in its vicinity than Olympic Park is for its residents. The number of studies that work to quantify ecosystems and their valuations has been increasing worldwide in recent years, largely because the results of quantification and valuation are useful in creating policy that protects or preserves the ecosystem, and in creating parks. This study is about park, ecosystem, and ecosystem services valuation, and about the allocation of greenspace; it makes a significant contribution to the literature, in that its results bear implications with regard to the estimated value of these parks. These figures also allow for comparisons of the value ranges of the two parks.

空間的 影響을 考慮한 地價推定에 관한 硏究

서경천 부산대학교 2002 국내박사

헤도닉기법을 이용한 자동차산업 혁신구조 분석

변혜영 서울대학교 대학원 2004 국내석사

산림휴양편익에 자원특성이 미치는 영향

전정남 서울대학교 대학원 2008 국내석사