The impact of urban renewal on neighborhood housing prices in Taipei: an application of the difference-in-difference method

Lee, Chun-chang; Liang, Chih-Min; Chen, Chia-Yu

doi:10.1007/s10901-016-9518-1

Cited by 37 publications

(25 citation statements)

References 43 publications

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“…In this study, Duncan post hoc test was employed to identify the difference in the means of annual rental values of commercial properties in the study area, so as to reveal the impact of the urban regeneration programme on the rental values of commercial properties. This is consistent with the approach adopted by Lee et al (2017).…”

Section: Methodssupporting

confidence: 90%

“…Information on the type of infrastructure renewed and the rental values of commercial properties in the management portfolio of each firm were collected for a ten-year period beginning from 2008 before the renewal programme to 2017 after the urban renewal programme. Learning from previous studies (see Ki and Jayantha, 2010; Jayantha and Ming, 2015; Lee et al , 2017), the commercial properties were limited to those within 2 km radius of the rejuvenated areas. In all, the rental values of sixty-three commercial properties were analysed for the study.…”

Section: Methodsmentioning

confidence: 99%

“…Employing hedonic pricing model methodology, the results revealed that neighbourhood improvement enhances the value of nearby shopping properties. Similarly, in a recent study, Lee et al (2017) examined the impact of urban renewal on neighbourhood housing prices in Taipei using the difference-in-difference method. The findings revealed that the prices of houses in the selected neighbourhood were significantly increased after the urban renewal programme which indicates the existence of positive relationship between urban renewal and house prices in the study area.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Several studies (see, e.g. McGreal et al , 2004; Adair et al , 2005; Hui et al , 2008; Ki and Jayantha, 2010; Ball and Nanda, 2014; Lee et al , 2017; Jayantha and Yung, 2018) have examined the effect of urban regeneration on real estate values and prices. However, a substantial part of these studies were conducted in developed countries such as USA, UK, Europe, Australia and Asia.…”

Section: Introductionmentioning

confidence: 99%

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Impact of urban regeneration on commercial property values in Osogbo, Osun State, Nigeria

Ekemode

2019

SASBE

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Purpose The purpose of this paper is to assess the effect of urban regeneration and renewal activities initiated by the Osun State Government in Nigeria on the rental values of commercial properties in Osogbo, the state capital between 2008, before the urban renewal programme through 2017, after the urban renewal programme had been completed. Design/methodology/approach Primary data utilised for this study were collected from all the Estate Surveying and Valuation firms involved in the formal management of commercial properties in Osogbo, Osun-State, Nigeria. Information on the types of urban infrastructure renewed and rental values of 63 commercial properties from 2008 to 2017 were obtained from the sampled estate surveying and valuation firms practicing in the study area. Data were analysed using descriptive statistics, analysis of variance and Duncan post hoc test. Findings The findings showed that physical urban infrastructure such as roads, drainages, water supply and wastes disposal have been upgraded in the study area. Also, the study established that the urban regeneration programme had significant impact on the rental values of commercial properties in Osogbo, arising from the statistically significant difference (F(7, 600) = 22.264, p<0.000) between and within annual rental values of commercial properties in the study area. The annual rental values of the commercial properties also exhibited considerable variation based on the Duncan post hoc test. Practical implications The findings from this study indicate that urban regeneration programme by the Osun state Government has significantly increased the investment performance of commercial properties in the study area. Hence, while investors could achieve higher returns on investment by venturing into commercial property investment, revenue could also be generated for government through the collection of property taxes in the study area. Originality/value This study is one of the few studies that have analysed the effect of urban regeneration programme on commercial property values from the perspective of an emerging African economy, using data from Osun State, Nigeria.

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Section: Methodssupporting

confidence: 90%

Section: Methodsmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Impact of urban regeneration on commercial property values in Osogbo, Osun State, Nigeria

Ekemode

2019

SASBE

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“…Past studies evidenced the role of urban redevelopment on the neighboring residential prices. The study conducted by Lee et al (2017) investigated the urban renewal impact on the surrounding residential prices by using the difference-in-difference technique in Taipei, Taiwan. The empirical results revealed that the residential prices of closer proximity to renewal projects were increased after publically announcement of renewal projects.…”

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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A Systematic Analysis of the Scientific Literature on the Relationships Between Urban Redevelopment Initiatives and Property Market Dynamics

Tajani,

Morano,

Di Liddo

et al. 2024

Computational Science and Its Applications – ICCSA 2024 Workshops

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The impact of urban renewal on neighborhood housing prices in Taipei: an application of the difference-in-difference method

Cited by 37 publications

References 43 publications

Impact of urban regeneration on commercial property values in Osogbo, Osun State, Nigeria

Impact of urban regeneration on commercial property values in Osogbo, Osun State, Nigeria

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

A Systematic Analysis of the Scientific Literature on the Relationships Between Urban Redevelopment Initiatives and Property Market Dynamics

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