Exploring the Spillover Effects of Ecological Lands: A Spatial Multilevel Hedonic Price Model of the Housing Market in Wuhan, China.
Tian Liu, Weiyan Hu*, Yan Song, Anlu Zhang
Research Questions: How do ecological lands aﬀect housing prices? Are there any diﬀerences in the spatial spillover eﬀects of various ecological lands on housing prices?
Research Methods: Employ an availability indicator, which combines the distance to the nearest ecological lands and size of the nearest ecological lands, and develop the spatial multilevel hedonic model.
Results:We ﬁnd that forest size and wetland size has a linear positive spillover eﬀect on urban housing prices, and a moderate grassland area and distance from wetland generates positive spillover eﬀect on urban housing prices, while too much or poor grassland area and distance from wetland may not. Also, only cultivated land very proximity to urban residential areas may raise the housing prices, most of the cultivated land in our case may reduce the housing prices. This result implies that demand for the forest, grassland, and wetlands can be well reﬂected in the housing market, while demand for cultivated land is less reﬂected in the housing market.
Contributions:This article contributes to the literature by integrating diﬀerent ecological lands into the hedonic analysis based on spatial multilevel models and deepens the relationship between the accessibility and visibility of ecological lands and housing prices.
Policy implication: Our ﬁndings urge the Chinese government to establish diﬀerentiated ecological lands protection policies mixed with market-oriented mechanisms for ecological lands and government-oriented compensation for cultivated land to ensure a continuous supply of ecological lands.
Citation：Tian Liu, Weiyan Hu, Yan Song, Anlu Zhang. 2020.Exploring the Spillover Effects of Ecological Lands: A Spatial Multilevel Hedonic Price Model of the Housing Market in Wuhan, China. Ecological Economics,170:106568-106576.
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