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Effects of Urban Parks on Housing Prices in the Post-COVID-19 Pandemic Era in China

Author

Listed:
  • Xinxing Yang

    (School of Architecture and Planning, Hunan University, Changsha 410082, China)

  • Qiang Ye

    (School of Architecture and Planning, Hunan University, Changsha 410082, China)

  • You Peng

    (Urban Planning and Transportation, Department of the Built Environment, Eindhoven University of Technology, P.O. Box 513, 5600 MB Eindhoven, The Netherlands)

  • Shaobo Liu

    (School of Architecture and Art, Central South University, Changsha 410083, China)

  • Tao Feng

    (Urban and Data Science Lab, Graduate School of Advanced Science and Engineering, Hiroshima University, Higashi Hiroshima 7398529, Japan)

Abstract

Urban parks are important for improving the quality of living environments. Although the impact of parks on housing prices has been well documented, the effects of the COVID-19 pandemic remain vague. This paper analyzes the housing prices of neighborhoods around Meixi Lake park in Changsha, at the initial stage of the COVID-19 pandemic in June 2020 and the stable stage of the recovery period in June 2023, which demonstrates the impacts of urban parks on property pricing and housing choice based on residential transaction data. The results indicate that urban parks are given a high priority in determining people’s choices. In June 2020, the risk of epidemic transmission and noise interference lowered the price of property that is close to public parks and recreational facilities. However, good management and social services in residential areas increase housing prices. However, when the pandemic ended, the strong demand for outdoor activities led to a price rise in the properties near Meixi Lake park. People are most likely to choose houses in a neighborhood characterized by good educational facilities and a high-quality living environment. More specially, the houses with a short distance to parks and where residents can enjoy the view of a lake or mountains are preferable to any others. A residential area adjacent to a super large park paired with a small park is the most valuable consideration for property developers and housing consumers.

Suggested Citation

  • Xinxing Yang & Qiang Ye & You Peng & Shaobo Liu & Tao Feng, 2024. "Effects of Urban Parks on Housing Prices in the Post-COVID-19 Pandemic Era in China," Land, MDPI, vol. 13(4), pages 1-17, April.
    • Handle: RePEc:gam:jlands:v:13:y:2024:i:4:p:519-:d:1375564
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    References listed on IDEAS

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