{"title":"Exploring the moderating effect of private green space on the relationship between density and housing prices","authors":"Jungseok Seo , Jeongseob Kim","doi":"10.1016/j.habitatint.2024.103231","DOIUrl":null,"url":null,"abstract":"<div><div>This study examines the impact of private green spaces on housing prices and their moderating effect on the relationship between housing density and prices in Seoul, South Korea. Our research finds a negative relationship between housing density and housing prices, suggesting that higher density typically depresses property values. The creation of private green spaces within residential complexes can generate an additional “green premium” when designed on a large scale with continuity and without the presence of automobiles. This study also suggests the potential of such green spaces in alleviating some of the negative effects of high density on housing prices. This research contributes to the discourse on sustainable and compact urban development, advocating for policy interventions that encourage the inclusion of private green spaces in high-density residential projects.</div></div>","PeriodicalId":48376,"journal":{"name":"Habitat International","volume":"154 ","pages":"Article 103231"},"PeriodicalIF":6.5000,"publicationDate":"2024-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Habitat International","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0197397524002315","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"DEVELOPMENT STUDIES","Score":null,"Total":0}
引用次数: 0
Abstract
This study examines the impact of private green spaces on housing prices and their moderating effect on the relationship between housing density and prices in Seoul, South Korea. Our research finds a negative relationship between housing density and housing prices, suggesting that higher density typically depresses property values. The creation of private green spaces within residential complexes can generate an additional “green premium” when designed on a large scale with continuity and without the presence of automobiles. This study also suggests the potential of such green spaces in alleviating some of the negative effects of high density on housing prices. This research contributes to the discourse on sustainable and compact urban development, advocating for policy interventions that encourage the inclusion of private green spaces in high-density residential projects.
期刊介绍:
Habitat International is dedicated to the study of urban and rural human settlements: their planning, design, production and management. Its main focus is on urbanisation in its broadest sense in the developing world. However, increasingly the interrelationships and linkages between cities and towns in the developing and developed worlds are becoming apparent and solutions to the problems that result are urgently required. The economic, social, technological and political systems of the world are intertwined and changes in one region almost always affect other regions.