Impact of urban water system treatment on the surrounding residential land price
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ORIGINAL PAPER
Impact of urban water system treatment on the surrounding residential land price Ji-wei Zhu 1 & Bo Chen 1 & Ping Lu 1 & Jian-lin Liu 1 & Gang Tang 2,3 Received: 22 November 2016 / Accepted: 11 December 2017 # Saudi Society for Geosciences 2017
Abstract Land price is the central link in the urban land market movement. Along with socio-economic development, urban land price continuously changes. Therefore, it is critically important to study the impact of urban water system treatment on the residential land price under an Becological city^ development model. A hedonic model was established in which the characteristic variable of distance between land and water system after being treated was used as the metric of the impact of urban water system treatment on the residential land price, with an aim to quantitatively study the influence of urban water system treatment on the residential land price. Results indicated that (1) the urban water system treatment had a positive impact on the residential land price. In addition, the residential land price shows a negative correlation to the distance between land and water system after being treated; (2) for every one-unit increase of distance between land and water system after being treated, the logarithm of residential land unit prices decreases by 0.025, and the residential land unit prices decrease by 2.47%. The findings of this study provide a valuable reference for local water resource planning and land management. Keywords Land price . Residential land . Characteristic variable . Hedonic model
Introduction Land is a kind of natural resources, which is also a kind of assets. The reasonable allocation of land resource directly determines the healthy and rapid development of the city. Urban land demand will increase with the speeding up of urbanization, thereby affecting the land price (Jiang and Zeng 2012; Xiao 2014). As an important information and value of the land market operation, the urban land price is the basis for urban land asset management and the reflection of urban land and man relationship at the economic point (Ma and Li 2003). Therefore, research on influence factors of urban land price and its mechanism is of great significance.
* Ji-wei Zhu [email protected] 1
State Key Laboratory Base of Eco-hydraulic Engineering in Arid Area, Xi’an University of Technology, Xi’an 710048, China
2
China Railway Construction Investment Group Corporation Limited, Beijing 100038, China
3
School of Economics and Management Beijing Jiaotong University, Beijing 100044, China
Urban land price is an index that reflects the merits of urban land (parcel). It has influenced by both macroscopic and microscopic factors. Wentz (2001) maintained that the combined action of factors such as national macroscopic policies, socioeconomics, and demographic status in the macroscopic aspect had main affect to the land price. Green (1999) noted that the regulations of land use had greatly impact on the land price; if a country reduce land supply while the land demand remai
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