Urban villages and housing values in China
AbstractThe presence of urban villages is a unique product of China's urbanization. In this article, we explore the effects of urban villages on the formal housing market. For this purpose, we develop a hedonic housing price model to investigate whether the proximity to urban villages affects the selling price of urban housing units. Controlling for the structure and other characteristics of urban housing units, we find that housing prices are lower the closer the buildings are from urban villages. We then carry out a survey of households living nearby and explore how they are affected by urban villages. The results indicate that there are both positive and negative effects associated with these villages.
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Bibliographic InfoArticle provided by Elsevier in its journal Regional Science and Urban Economics.
Volume (Year): 42 (2012)
Issue (Month): 3 ()
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Hedonic prices; Urban villages; Housing price externalities; China;
Find related papers by JEL classification:
- O18 - Economic Development, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
- R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
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