TY - JOUR
T1 - Valuation of Urban Parks Under the Three-Level Park System in Shenzhen
T2 - A Hedonic Analysis
AU - Li, Xun
AU - He, Qingyu
AU - Huang, Wenwen
AU - Tsim, Siu Tai
AU - Qiu, Jian Wen
N1 - Funding Information:
This research was funded by Key Platforms and Scientific Research Projects of Universities in Guangdong Province (grant number 2021KQNCX109), and UIC Start-up Fund project (grant number R72021205).
Publisher Copyright:
© 2025 by the authors. Licensee MDPI, Basel, Switzerland.
PY - 2025/1
Y1 - 2025/1
N2 - Urban parks play a pivotal role in fostering ecologically advanced cities in China, contributing significantly to enhancing urban environments and the overall quality of life for residents. However, their value is often hard to quantify by urban planners due to the absence of a clear market price. Using the hedonic price method, this study delves into the distinct impacts of different types of urban parks (community parks, city parks, country parks) on housing prices under the three-level park system in Shenzhen. The outcomes reveal that owning a view of both city parks and country parks from the apartment has significant positive influence on housing prices, with a premium of 14.8916% (RMB 920,396.73) and 30.7299% (RMB 1,899,309.15), respectively. Regarding accessibility, shortening walking distance by 100 m to the nearest community park and city park can attach a premium to the housing price by 0.3269% (RMB 20,203.55) and 0.6130% value gain (RMB 37,889.53), respectively. The results drawn from distinctive park types are expected to give insights to urban planners in formulating strategies for ecological civilization construction, with an emphasis on prioritizing visible and accessible greenspaces to cater to citizens’ preferences and foster sustainable urban growth.
AB - Urban parks play a pivotal role in fostering ecologically advanced cities in China, contributing significantly to enhancing urban environments and the overall quality of life for residents. However, their value is often hard to quantify by urban planners due to the absence of a clear market price. Using the hedonic price method, this study delves into the distinct impacts of different types of urban parks (community parks, city parks, country parks) on housing prices under the three-level park system in Shenzhen. The outcomes reveal that owning a view of both city parks and country parks from the apartment has significant positive influence on housing prices, with a premium of 14.8916% (RMB 920,396.73) and 30.7299% (RMB 1,899,309.15), respectively. Regarding accessibility, shortening walking distance by 100 m to the nearest community park and city park can attach a premium to the housing price by 0.3269% (RMB 20,203.55) and 0.6130% value gain (RMB 37,889.53), respectively. The results drawn from distinctive park types are expected to give insights to urban planners in formulating strategies for ecological civilization construction, with an emphasis on prioritizing visible and accessible greenspaces to cater to citizens’ preferences and foster sustainable urban growth.
KW - 3-D spatial model
KW - hedonic price model
KW - multilevel model
KW - urban park
UR - http://www.scopus.com/inward/record.url?scp=85215805770&partnerID=8YFLogxK
U2 - 10.3390/land14010182
DO - 10.3390/land14010182
M3 - Journal article
AN - SCOPUS:85215805770
SN - 2073-445X
VL - 14
JO - Land
JF - Land
IS - 1
M1 - 182
ER -
