The effect of urban redevelopment on retail shopping property values: a case study in Hong Kong

摘要: Purpose – Redevelopment, an essential aspect of the urban regeneration process, brings positive externalities to neighbourhoods. This study evaluates effect improvements neighbourhoods, brought about by redevelopment, on nearby ground-floor retail shopping property values. uses a hedonic price model determine whether there is relationship between redevelopment work and values influence neighbourhood properties if such relationship. The analysis based three large-scale projects, each having commercial space ranging from 30,000 50,000 sq.ft. results show that improved environment significant value enhancement properties. Potential tenants are willing pay sale rental premium 13% 34% shops located near redeveloped areas. also reveal potential shop premi...