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Transformation for Feature Upgrades or Higher Property Prices: Evidence from Industrial Land Regeneration in Shanghai

Author

Listed:
  • Fan Yang

    (Department of Urban Planning, College of Architecture and Urban Planning, Tongji University, Shanghai 200092, China)

  • Peihong Tao

    (Department of Urban Planning, College of Architecture and Urban Planning, Tongji University, Shanghai 200092, China)

  • Xiao Cai

    (Department of Urban & Regional Planning, Faculty of the Built Environment, University of Malaya, Kuala Lumpur 50603, Malaysia)

  • Jiayin Wang

    (Department of Urban Planning, College of Architecture and Urban Planning, Tongji University, Shanghai 200092, China)

Abstract

In recent years, an increasing amount of industrial land has been left idle in China. This gave rise to a wide range of urban issues hindering sustainable urban development. To solve this problem, industrial land transformation has been promoted. However, factors affecting industrial land transformation have not been adequately explored. To fill this gap, this study employs the bivariate K-function to analyze the spatial association between agglomeration patterns of industrial land parcels and living quarters. Moreover, a series of discrete choice models (i.e., the LOGIT, PROBIT, and IVPROBIT model) are adopted to examine empirically complicated relationships between industrial land transformation and its influencing factors. This study argues that the land price and its rising expectations are major determinants of industrial land transformation. The results revealed that transformation-oriented industrial land tended to be located next to accessible living quarters with higher prices. A higher-level industrial park typically had less possibilities for industrial land transformation. The findings also indicated that production efficiency served as a moderator variable to regulate the transformation process. Implications are formulated for policymakers to guide industrial land transformation in an appropriate manner.

Suggested Citation

  • Fan Yang & Peihong Tao & Xiao Cai & Jiayin Wang, 2022. "Transformation for Feature Upgrades or Higher Property Prices: Evidence from Industrial Land Regeneration in Shanghai," Sustainability, MDPI, vol. 14(9), pages 1-20, April.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:9:p:5280-:d:803583
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    References listed on IDEAS

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