Urban terrain, mountain landscape, and housing price: A heterogeneous investigation of the amenity effects in a mountainous city (Guiyang) from the vertical dimension

Abstract

Urban residents benefit from the fresh air, green landscapes, and recreational venues offered by mountainous cities with undulating topography and rich mountain resources. Taking Guiyang, China as case study, this study employs a hedonic pricing model to examine the amenity effects of urban terrain and mountain landscapes on housing prices from a vertical dimension. On average, housing prices increase by 1.6% for every 1 km decrease in distance from the mountain landscape, and by 0.7% for every 1 km² increase in the mountain landscape area. Furthermore, the slope of the terrain negatively affects housing prices, with a 0.4% discount in housing value for every degree of slope. Altitude, in contrast, has a negligible impact on housing prices. Notably, there is a nonlinear relationship between mountain landscape and housing prices, as terrain slop weakens the effects of proximity to mountain landscape and serves as a moderating factor. Vertical heterogeneity is also evident, with the mountain landscape distance contributing up to 4% price premium for houses located at floors above 7. Buyers of higher-priced houses place greater value on larger mountain landscape but are less sensitive to proximity. The GWR model further reveals spatial heterogeneity in amenity effects, with old urban areas showing a particularly strong positive relationship between mountain landscapes and housing prices. This study not only enhances our understanding of the amenity effects of mountain urban environments, but also contributes to the theoretical fields of mountain urban planning and urban ecology, providing new perspectives and empirical evidence for these disciplines.