Valuing the Micropublic Space: A Perspective from Beijing Housing Prices
Publication: Journal of Urban Planning and Development
Volume 148, Issue 2
Abstract
Research on public space has long been a primary focus in urban studies. Most previous studies have measured public space from the macroscale perspective, such as the distance to the city center, and therefore cannot specify the social significance and economic benefits related to its quality or details. Hence, we fill this gap by evaluating the impact of quality and the presence of specific public space elements on housing prices after dividing public space into two parts: public space surrounding the gated community (PSSG) and public space inside the gated community (PSIG). We measure the visible and touchable features of PSSG and PSIG and estimate the effects and the monetization value of PSSG and PSIG on housing prices. Our empirical analyses focused on the area within the Beijing 5th Ring Road and revealed the following: For the PSSG, wider streets, higher buildings along the streets, higher street greenery levels, higher proportions of street wall continuity, and lower street spatial disorder can contribute to higher housing prices. For PSIG, the presence of most gated community facilities can raise housing prices. We infer that the economic value of PSSG and PSIG, including housing prices will increase by 546 yuan/m2 as the gated community gains a sport field.
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Acknowledgments
This work was supported by the Natural Science Foundation of China (Grant Nos. 51778319 and 71834005), Tsinghua University Initiative Scientific Research Program (Grant No. 20193080067), and the Chinese National Postdoctoral Foundation (Grant No. 2019TQ0166). The authors also thank Professor Yingjie Zhang for providing feedback for the research.
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Journal of Urban Planning and Development
Volume 148 • Issue 2 • June 2022
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© 2022 American Society of Civil Engineers.
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Received: Apr 27, 2021
Accepted: Sep 3, 2021
Published online: Feb 21, 2022
Published in print: Jun 1, 2022
Discussion open until: Jul 21, 2022
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