The effects of jobs, amenities, and locations on housing submarkets in Xiamen City, China

Abstract

Numerous studies have found that jobs, amenities, and location influence housing prices in urban areas. However, there is still a lack of in-depth understanding of the impacts of these factors on various housing submarkets within a city. With the case study of Xiamen, this paper investigates the impacts of jobs, amenities, and location on four housing submarkets, classified by owner-occupied and rental housing, in inner and outer districts. The hedonic model, Chow test, and Tiao-Goldberger test are applied to analyze differentiation in the determinants of housing prices between four submarkets. The results show that all submarkets are influenced by blue-collar jobs (which have negative effects) and seascape (which has a positive impact). Besides, differentiated after submarkets show that school districts and public transportation have a greater influence on owner-occupied markets than on rental markets. A heterogeneity exists between inner-district and outer-district markets. For instance, bus rapid transit (BRT) has a positive effect on housing and rental prices in the outer districts but not in the inner districts. These differences are mainly caused by the disparities of spatial quality, economic development, and public facilities and amenities. The findings have profound implications for decision-making and planning practices.

Determinants of housing prices: Serbian Cities’ perspective

“…Shin et al (2024) found that accessibility to various urban amenities significantly influences housing prices, for instance access to learning, care, education and leisure facilities. The impact of public transport infrastructure on housing prices has been confirmed in a number of recent studies (Efthymiou & Antoniou, 2013;Song et al, 2019;Li et al, 2023). Using proximity-and accessibility-based measures for estimating the impact of transport infrastructure on housing prices, the research indicates that proximity to the big transportation hubs, such as airports, bus terminals, and road intersections adversely impacts individual housing price, opposite to transportation accessibility measured by proximity to rapid transit or public bike stations (Soltani et al, 2024) The impact of tourism expansion on housing prices at municipal levels has been extensively researched and confirmed (Biagi et al, 2015;Paramati & Roca, 2019;Alola et al, 2020).…”

Hedonic Approach to Vertical Residential Rentals in the Brazilian Amazon: The Case of Belém, Pará

“…Micro determinants are those related to the specific characteristics of real estate. According to the literature, these determinants are classified into three categories, namely structural attributes, locational attributes, and neighborhood qualities [5,7,8,11,17,32,33].…”

“…They concluded that the customer's willingness to pay for a built square meter is greater than an extra square meter on the home's lot. In the approach presented by Li et al [32], which used real estate sales and rental prices for both internal and external districts, the area of the property had a positive influence.…”

“…Another factor that contributes to hedonic modeling, when it comes to structural attributes, is the number of bedrooms and bathrooms in the home. Li et al [32] and Qiao et al [16] attest to the positive effect of the number of bedrooms on the sale and rental price of properties. Using a quantile analysis, Cui et al [7] showed that consumers of properties with higher purchase and rental prices are more inclined to live in a home with more bedrooms.…”