Search
en-USsl-SI

Urbani izziv Volume 22, No. 2, December 2011 : 98–106

UDK: 332.832.5(512.317)
DOI: 10.5379/urbani-izziv-en-2011-22-02-003

 

   Article in PDF format

 

Author

Yung YAU

City University of Hong Kong, Department of Public and Social Administration, Kowloon Tong, Hong Kong
y.yau@cityu.edu.hk

 

Title

Does comprehensive redevelopment change the housing price gradient? A case study in Mongkok, Hong Kong

 

Abstract

Urban decay is an inevitable outcome of the growth of most cities, including Hong Kong. Many old buildings in Hong Kong are dilapidated, and it is urgent to tackle urban decay in the city. Redeveloping dilapidated buildings has long been regarded as an effective solution to this urban problem. Yet, as suggested in the literature, redevelopment may be responsible for gentrifying neighbourhoods because it pushes up property and rental prices near redeveloped sites. However, there are still few empirical studies on how comprehensive redevelopment affects housing values in a neighbourhood. In this light, this study investigates the impacts of the Urban Renewal Authority’s Argyle Street / Shanghai Street Redevelopment Project on the transaction prices of nearby housing. A set of panel data is employed and the change in the spatial price gradient before and after the redevelopment project is explored. The findings suggest that proximity to the project site had a significant positive impact on housing prices before the project. However, no change was seen in the spatial-price gradient after completion of the project. These results confirm the findings of a previous study that housing prices do not respond to the change in the environmental quality resulting from comprehensive redevelopment.

 

Key Words

housing price, comprehensive redevelopment, gentrification, externality, hedonic price analysis, Hong Kong

 

 

 

PUBLISHER

Urbanistični inštitut RS
Urbani izziv - Editorial Board
Trnovski pristan 2, 1000 Ljubljana, SLO

  + 386 (0)1 420 13 10
  urbani.izziv@uirs.si

ISSN

Print edition: 0353-6483
Web edition: 1855-8399

INDEX

GOOGLE SCHOLAR
h5-index: 12
h5-median: 17
INDEX COPERNICUS
ICV 2018: 121,25
CLARIVATE ANALYTICS
Indeksirano v ESCI


SCOPUS ELSEVIER

SCImago Journal & Country Rank

1.2
2020CiteScore
 
84th percentile
Powered by  Scopus

SNIP (2020): 0.48
CiteScoreTracker (2021): 1.5

Copyright 2021 by UIRS
Back To Top