Abstract
Many studies have confirmed that there is demand among urban residents and renters for urban parks. Moreover, as renters and home buyers have very different levels of ownership over their housing resources, their demands for amenities can be heterogenous. To discover and identify such heterogeneous demands is worthy of attention. Using the micro-housing resale transactions and listing data for housing leases in Beijing during 2019, this paper explores the difference between the demand for urban parks among home buyers and renters outside the community from the perspective of the internal quality of the community by using the hedonic price model (HPM). Specifically, from the dimension of the property management service fee and greening rate, we find that for home buyers, compared to residents living in relatively poor-quality communities, a better-quality community will reduce the demand for urban parks outside the community. Conversely, for renters, the higher the quality of the community is, the higher the demand for urban parks outside the community will be.
Highlights
Realizing the seriousness of the climate change consequences in an urban context, people have begun to attach importance to urban ecosystem functions
Previous research on home buyers and renters has shown that home buyers pay attention to various kinds of amenities around the house, renters are most affected by traffic [32,33,34]
With an increase in income, residents are continuously pursuing a better quality of life [13,35,36], so the degree of importance attached to the surrounding amenities by home buyers and renters will change
Summary
Realizing the seriousness of the climate change consequences in an urban context, people have begun to attach importance to urban ecosystem functions. As an important part of urban green space, urban parks play an important role in reducing the impact of climate change, especially in urban heat islands [2]. Using the hedonic price model (HPM), many scholars have identified residents’ willingness to pay for local public goods (such as medical care, education, transportation, and urban parks) through the capitalization effect of local public goods on the housing sales market [3,4,5,6]. Compared to the abundant research on the capitalization effect of green space on housing prices, a small amount of research confirms the positive impact of green spaces on rent [7,8]. Few studies take into account the heterogeneous demands of different residents—that is, the different demands of home buyers (home is a mixture which includes houses, apartments, and flats) and renters for urban parks, which need greater consideration [14]
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