Understanding the value of retail accessibility in private housing markets: A study from Turin, Italy

Abstract

Numerous urban studies have explored the relationship between urban amenities and real estate value. However, a notable gap exists in the literature concerning the specific impact of retail activities on housing values, particularly within European contexts. This study addresses this gap by examining the relationship between housing values and accessibility to different retail typologies, expanding the research stream to a European city by applying the Geographically Weighted Regression (GWR) model. The results indicate that accessibility to shopping retailers, bars and restaurants has a positive effect. In contrast, accessibility to convenience retailers and traditional markets has a negative impact. No significant relationship is observed between housing values and accessibility to supermarket retailers. Furthermore, this study shows that retail accessibility typologies impact differs in different urban areas. These findings provide useful implications for planners and policymakers, highlighting the need for strategic support for the retail sector in safeguarding and enhancing the investments of investors and families.