Impacts of urban renewal on neighborhood housing prices: predicting response to psychological effects

Liang, Chih-Min; Lee, Chun-Chang; Yong, Lian-Rong

doi:10.1007/s10901-019-09673-z

Cited by 26 publications

(14 citation statements)

References 51 publications

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“…For both the parametric and non-parametric estimation, we assign the treatment year being the year of project commencement to accommodate the potential anticipation effect that, given the lengthy process of project implementation, the external effect of the project is very much likely to be capitalized in local house prices before project completion. Such anticipation effect has also been well documented in the literature, for instance, Van Duijn et al (2016) and Liang et al (2020). We also pay attention to the heterogeneity of external effect among reuse projects with different scale and religious heritage sites designated with distinct monumental status.…”

Section: Introductionmentioning

confidence: 58%

“…Additionally, we take the treatment year as the year of project commencement rather than the year when the reuse project is accomplished and put into service. We adopt such definition to capture the potential anticipation effect that seems most likely for projects extending for multiple years (Van Duijn et al 2016;Liang et al 2020).…”

Section: Methodsmentioning

confidence: 99%

“…Previous research establishes predominant findings that historic preservation and urban revitalization projects bring about spillover to local housing market. For instance, positive external impact on house prices can be associated with historic designation (Coulson and Leichenko 2001;Ahlfeldt and Maennig 2010;Noonan and Krupka 2011), subsidized housing (Schwartz et al 2006), brownfield redevelopment (De Sousa et al 2009;Woo andLee 2016, urban renewal (Lee et al 2017;Liang et al 2020), and redevelopment of industrial heritage sites (Van Duijn et al 2016). With reference to the existing literature, little is known as to how reusing religious heritage affects the welfare of local communities in the form of housing price capitalization.…”

Section: Introductionmentioning

confidence: 99%

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Adaptive Reuse of Religious Heritage and Its Impact on House Prices

Liu

2020

J Real Estate Finan Econ

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Due to social demographic change and secularization, religious heritage sites in Europe are on the verge of losing their original functions. While the adaptive reuse seems to be a proactive strategy to preserve the historical and cultural value embedded in religious heritage sites, little is known concerning its external impact. This paper aims to fill this gap by investigating the external effect of reusing religious heritage on surrounding house prices. Employing both the parametric and non-parametric difference-in-differences hedonic model on a sample of 42 projects of reusing religious heritage and a rich dataset of housing transactions in the Netherlands, we find significant positive externality of reusing religious heritage on local house prices. The external effects are heterogeneous across differentiated project size and monumental status. Larger religious heritage reuse projects and those listed as national monuments exert greater influence on surrounding house prices.

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Section: Introductionmentioning

confidence: 58%

Section: Methodsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Adaptive Reuse of Religious Heritage and Its Impact on House Prices

Liu

2020

J Real Estate Finan Econ

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“…Another study by Zheng et al (2020) used the differencein-difference technique, found significant positive effects of urban redevelopment projects on the proximate housing prices in Hong Kong. Liang et al (2020) used spatial econometrics and different-in-difference methods to evaluate the urban renewal effects on the neighboring residential prices. They assessed and compared the effects of urban renewal on surrounding residential prices by dividing the process of urban renewal into two stages.…”

Section: Literature Reviewmentioning

confidence: 99%

Net Benefits of Urban Slums Redevelopment Policies on the Value of Adjacent Residential Property

Hussain

Zou

2021

International Journal of Strategic Property Management

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Over time, the government of Pakistan introduced several strategies to deal with the issue of slums in its capital city, Islamabad. Contrary to the traditional strategies that primarily focus on the tenure security of occupants, the strategy of slum redevelopment is more composite. It involves the up-gradation of slums in their existing sites as well as the demolition of slums from the posh areas. The present study is first to empirically investigates the outcomes of the slums redevelopment policies on the value of adjacent residential properties. Using a rental valuation based hedonic price model, the study examined the spillover effects of an urban slum up-gradation and eviction projects on the nearby housing values. The results show that the redevelopment of slums reduces the adverse effects on residential value. It is essential for the urban planners to cautiously include the slum redevelopment projects spillover effects on the adjacent property value in different geographical locations, to maximize the net positive effects of improvements on the neighborhood.

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“…Furthermore, these findings also provide a basis for housing market development and spatial planning. As low-income houses in urban villages in the inner cities continues to be demolished and upgraded-which raises housing prices (Liang et al 2019)-rental housing in the outer districts may become the mainstream market of low-income migrants in the future. They are greatly influenced by the accessibility of public transportation and facilities as well as the location of blue-collar and white-collar jobs.…”

Section: Discussionmentioning

confidence: 99%

Accessibility and socio-spatial inequalities between locals and migrants in Xiamen city, China

Li¹

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encouragement, I would not have been able to research this topic and finish this work successfully. Thank you for your continued support both professionally and personally. Prof. Jiao'e Wang, thank you for urging me to return to the academic environment when I was inefficient after returning to China. In a good academic atmosphere, I learned to reiterate the paper from the perspective of a reviewer, clarify my thinking, and make the diagram more clearly expressed. Your high efficiency and rigorous thinking have provided me with a role model for becoming an excellent researcher in the future. Dr. Jie Huang, thank you for your guidance on my several papers during my stay in Beijing. When I returned to China in the fourth year, I still lacked the ability to systematically sort out the entire paper. Under your guidance, I improved my ability to sort out logic. The communication with you played a very positive role in the later revision of the paper. Furthermore, I want to thank Prof. Chaoxiang Wen for giving me a deeper insight into cities through my field trips. Dr. Haoran Yang, thank you for guiding me on several papers and helping me with hardware facilities during my stay in China.I would also like to thank other former and present colleagues and friends for their company and support throughout the PhD journey: prof.

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Impacts of urban renewal on neighborhood housing prices: predicting response to psychological effects

Cited by 26 publications

References 51 publications

Adaptive Reuse of Religious Heritage and Its Impact on House Prices

Adaptive Reuse of Religious Heritage and Its Impact on House Prices

Net Benefits of Urban Slums Redevelopment Policies on the Value of Adjacent Residential Property

Accessibility and socio-spatial inequalities between locals and migrants in Xiamen city, China

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