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3528. Understanding the Value of Retail Accessibility in Private Housing Markets: A Study from Turin, Italy
Invited abstract in session MD-18: Enhancement of circularity, inclusivity, and smartness in cities II, stream Sustainable Cities.
Monday, 14:30-16:00Room: 42 (building: 116)
Authors (first author is the speaker)
| 1. | Marco Del Nibletto
|
| Dipartimento interateneo di SCIENZE, PROGETTO E POLITICHE DEL TERRITORIO (DIST), Politecnico di Torino | |
| 2. | Giulio Zotteri
|
| DIST, Politecnico di Torino | |
| 3. | Marta Bottero
|
| Department of Urban and Regional Studies and Planning, Politecnico di Torino | |
| 4. | Federico Dell'Anna
|
| Interuniversity Department of Regional and Urban Studies and Planning, Politecnico di Torino |
Abstract
The relationship between urban amenities and property values has been widely studied, yet the specific contribution of retail accessibility to housing prices in European urban areas remains underexplored. This paper makes a significant contribution to this field by introducing a new classification of retail categories within the Hedonic Pricing Method and Geographically Weighted Regression (GWR) frameworks. It categorizes retail into five types: shopping, convenience, supermarkets, bars & restaurants, and traditional markets, to capture the influence of the retail landscape on housing values. A key innovation is the use of a gravity-based accessibility index to quantify the proximity of various retail types to residential properties, using a decay parameter that optimizes the explanatory power of retail accessibility. The findings suggest that shopping, bars & restaurants have a positive effect, while convenience retail and traditional markets have a negative impact. The study did not find a significant relationship between housing values and accessibility to supermarkets. GWR was used for the first time in this research domain, providing new insights into the spatial dynamics at play. The study focuses on Turin, Italy, and provides valuable information for urban planners and policymakers regarding the differential impacts of retail accessibility across urban areas. It highlights the importance of strategic support for the retail sector to enhance the value of investments.
Keywords
- Economic Modeling
- Location
- Energy Policy and Planning
Status: accepted
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