The Influencing Thresholds and Interactive Effects of Urban Green Spaces on Housing Prices: A Case Study of Beijing, China

Abstract

As an important part of the urban ecosystem, the value of green spaces (GS) has become increasingly prominent. However, the interaction effect of GS characteristics are still not clear enough. This study explores the premium effect of different types of GS on housing prices (HP) in Beijing. The results show that all types of GS have a significant premium impact on HP, among which there are obvious distance and area thresholds for park GS. The distance range of municipal parks for premium effect is within 2000 m and, the closer to a community, the higher the value. In contrast, community-level parks only have a premium effect within 1500 m, and the most obvious distance is 500–1000 m away from the community. The area of parks has the greatest impact on HP when it is 20–50 ha, and municipal parks larger than 300 ha or community parks smaller than 2 ha do not produce a premium effect. Furthermore, GS surrounding and within communities can serve as substitutes for community-level parks, while municipal parks are irreplaceable and can synergistically influence HP increases with all types of GS. The study offers new findings on the influencing thresholds and interactive effects of GS, providing decision-making guidance for urban construction.

Keywords

• green space
• community-level green space
• housing price
• interactive effect
• hedonic price model
• geo detector