Conference Agenda

The paper complements the existing literature on long-term care by studying the private elderly home market in Hong Kong. The contributions are three-folded. First, it documents the price dispersion of the ancillary long-term services and explains how spatial difference or searching cost affects its price dispersion. Then, it applies a hedonic pricing model to examine how three levels of factors (i.e., package level, elderly home level, and district level) may explain the monthly rental of the elderly home. Finally, it proposes a "healthcare premium" measure and applies it to our hand-collected dataset. Directions for future research will be discussed at the end of the paper.

Urban regeneration is a sound sustainable urban development strategy globally. In China, promoting urban regeneration has become the national sustainable urban strategy. Under the resource constraint, it’s necessary to understand what benefits different types of urban regeneration projects can contribute to urban development. Many research has contributed to evaluating the benefits of urban regeneration on the project scale. The systematic investigation of their external economic effects, especially the comparison between different types of projects, is relatively downplayed. This paper aims to evaluate and compare the external economic effects of urban regeneration projects by calculating the change in surrounding housing prices. Chongqing is selected as the case city. Based on the housing transaction data from 2015 to 2021, a staggered difference-in-difference method is employed to capture the results. The finding shows that the overall external economic effects are significantly negative, especially within a radius of 400-800m. Higher investment or better project location relates to stronger negative effects. Moreover, the differences in external economic effects among the three types of urban regeneration projects are clearly revealed from diverse perspectives. It provides a valuable reference for policymakers and urban planners to make urban regeneration planning by better considering comprehensive benefits.

Since global economic growth presents a decelerating trend after COVID-19, the Chinese government desires to attract commercial activities to revitalize the stock resources around the old neighborhoods through old neighborhood regeneration (ONR) and stimulate economy in the short term. Consumption amenity is a crucial indicator for the economic development of neighborhoods, it is also an important goal of ONR. However, there is a limitation of exploring the effect of ONR on consumption amenity. This paper constructed a difference-in-differences (DID) model to analyze the impact of ONR on consumption amenity in Chongqing, China. Consumption amenity index data from 2016-2021 along with the data collected for the areas that underwent renewal between 2019 and 2021 was used in the analysis. The results showed that ONR increase the quantity of consumption amenity respectively with no time-lag effect. Compared with the existing research, the contribution of this research is to have adopted the DID method to provide more reliable casual evaluation of static and dynamic impacts of ONR on consumption vitality.

Assessing the capitalization effects of air pollution is important because it can estimate the welfare costs of improving air quality and inform government action on environmental management. Thus far, several studies have revealed a negative linear relationship between air pollution and housing prices. However, this conclusion may be far from sufficient to explain real-world phenomena, as the underlying relationship should be more complex and interesting than a simple linear assumption. This study conducted an empirical study using a city-level dataset in China from 2009 to 2018. The nonlinear relationship between air pollution and housing prices is explored in the framework of hedonic price analysis. An inverted U–shaped relationship is clearly supported by the current findings with considering the endogeneity issue. We proposed a threshold of PM2.5 concentrations is 29.312 μg/m³, which is much lower than average PM2.5 concentration of cities. It is even lower than the Chinese national standard value of 35 μg/m³. This finding should draw the attention of government authorities to the current state of air pollution and play a key role in raising public awareness of environmental protection and air purification.

The daily travel of urban residents reflects how urban spaces are used. Distinctions are generally evident in the spatiotemporal behaviors of residents living in different types of housing and city areas. However, scant attention has been paid by the extant studies to the discrete spatiotemporal behavioral characteristics of residents of different housing types. The current literature is thus unable to effectively reflect differentiated residential needs. Therefore, this study used mobile phone signaling data from Nanjing to delineate city areas. It also individually analyzed the commuting and noncommuting travel characteristics of residents of affordable and commercial housing. Further, it performed a correlation test to examine the factors influencing the travel behaviors of the respective residents and their group differences. The investigation revealed the directionality and hierarchical quality of the travel behaviors of the residents. Moderately significant locational and group differences were observed. Specifically, no significant differences were found in the commuting travel of residents of different housing types. However, a relatively significant difference was noted in the commuting travel of residents of different city areas. The job-housing proximity need of people living in the principal urban area is essentially satisfied, and their short commutes are concentrated in the main urban zone. Conversely, suburban residents must contend with a greater job-housing distance but also primarily commute to the main urban area. More salient differences were observed in the noncommuting travel patterns of residents of different housing types: those living in affordable housing travel shorter distances than the inhabitants of commercial housing. In terms of influence, the accessibility of public transport in proximity to residences was significantly correlated with travel behaviors. This association was especially evident for those living in suburban affordable housing.

With new rail lines, residents can enjoy higher accessibility and more activity opportunities. However, better access to public transport can potentially increase land prices in catchment areas. In this research, we aim to investigate whether this capitalisation effect goes beyond the conventional catchment area and how such an effect varies across different regions. In a departure from previous studies, we employed a gravity-based accessibility measure to capture the regional impact of rail lines using a cross-sectional analysis of 2001 and 2011 residential apartment data in Hong Kong and a difference-in-difference approach to estimate repeated sales transacted in both years. We used a three-level hierarchical estimation method that allowed the price effect to vary by submarket. The results indicated that the network accessibility of rail lines had a statistically significant capitalisation effect on property prices that varied across different submarkets. Although the three major new rail lines had a greater impact on the built environment in suburban areas, the elasticities in property price with regard to accessibility were still larger in urban areas in both 2001 and 2011. We also establish that the improvements in rail accessibility had a substantially greater effect on the changes in property price between 2001 and 2011 in several new town submarkets along the new lines. From a regional perspective, we conclude that the price effect of new transport infrastructure goes beyond the local catchment areas and call for urban policies that address housing affordability issues across different submarkets in the region and a re-examination of land value capture policies.