Abstract
The shopping mall plays an important role in the daily life of a city's residents, as well as the economic development of the city, especially in neighboring areas. However, the mechanisms that shape the impact of shopping malls on housing prices remain unclear, particularly in the context of urban China. Considering both the location and quality of shopping malls, this study investigates two questions: 1) Which types of shopping malls impact housing prices, and 2) does this impact change with location? Using Hangzhou, China as an example, data for shopping malls built in Hangzhou prior to 2014 and second-hand housing transaction data from 2014 were collected and analyzed. Based on these data, shopping malls were further divided into several types, according to scale, grade, and tenant mix. Then, spatial accessibility to shopping malls was characterized using two gravity-based models. A geographically weighted model was also used to further analyze the spatial heterogeneity of the accessibility effects of shopping malls on housing prices, especially between the city center and the non-core areas. The study finds that the gravity-based model performed well, and that spatial accessibility to shopping malls had a significant positive impact on housing prices on a whole-city level, but this impact changed with the type of shopping mall and the urban area. Large-scale and high-end shopping malls only had a significant positive impact in the non-core areas of the city. In contrast, high-leisure shopping malls had a significant positive effect on most areas, including the city center.
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