School of Architecture and Urban Planning, Beijing University of Civil Engineering and Architecture, Beijing 100044, China.
School of Finance, Renmin University of China, Beijing 100086, China.
Int J Environ Res Public Health. 2022 Feb 14;19(4):2147. doi: 10.3390/ijerph19042147.
Cultural greenway projects (CGPs) are widely regarded as an urban planning approach which connects open green spaces and sites of sociocultural value to provide access to living, working and recreational spaces and enhance local social well-being. This paper examines the impact of such CGPs on public living desire before and after a given project is completed through analyzing housing prices in the surrounding area. We deployed a hedonic pricing model (HPM) and differences in differences (DID) model to analyze and record any changes in housing market trends that may have been caused by such a cultural greenway project. Via analysis of single-family home sale transactions in central Beijing from 2013 to 2017, we found substantial evidence that proximity to a cultural greenway project is positively linked with rising property prices. Once complete, CGPs were similarly associated with positive increases per HPM and DID modeling. Our results revealed that the distance to greenway contributed significantly positive impact on the housing market after the cultural greenway project completed. Moreover, our result indicated that once a CGP was open to the public, it increased the price of properties within 1 km by 13.3%. Seller and buyer expectations of the development of local, green public infrastructure also began to factor into housing prices prior to the greenway opening to the public. Post-completion, the positive trend in property pricing due to local CGPs indicates that the public still have an increasing desire to live near the greenway. These results will help policymakers better understand how cultural greenways affect neighborhoods in high-density urban contexts, and will support the development of urban greenway policies for cities in China that reap the maximum economic benefit.
文化绿道项目（CGPs）被广泛认为是一种城市规划方法，它将开放的绿地和具有社会文化价值的场所连接起来，为人们提供了接近生活、工作和娱乐空间的机会，并增强了当地的社会福祉。本文通过分析周边地区的房价，研究了此类 CGPs 在给定项目完成前后对公众居住意愿的影响。我们使用了特征价格模型（HPM）和双重差分模型（DID）来分析和记录可能由文化绿道项目引起的住房市场趋势变化。通过分析 2013 年至 2017 年北京中心区的单户住宅销售交易，我们发现了大量证据表明，靠近文化绿道项目与房价上涨之间存在正相关关系。CGPs 一旦完成，通过 HPM 和 DID 模型同样与正的价格增长相关。我们的研究结果表明，绿道的距离对住房市场有显著的正向影响，在文化绿道项目完成后。此外，我们的研究结果表明，一旦绿道向公众开放，其周边 1 公里范围内的房价就会上涨 13.3%。在绿道向公众开放之前，卖家和买家对当地绿色公共基础设施发展的预期也开始影响房价。项目完成后，由于当地 CGPs 导致的房地产价格的积极趋势表明，公众仍然有越来越高的在绿道附近居住的愿望。这些结果将帮助政策制定者更好地了解文化绿道如何影响高密度城市环境中的社区，并为中国城市制定城市绿道政策提供支持，以获得最大的经济效益。
