Impact of Urban Village Disamenity on Neighboring Residential Properties: Empirical Evidence from Nanjing through Hedonic Pricing Model Appraisal

Abstract

This research investigation falls in the very few studies that seek the association between city development and sustainable urban planning. This study emphasized to examine and explore effects of urban village disamenity on Nanjing suburban and posh area property valuation. Globally, slums exist in almost every country; however, researchers focused less on slums’ crumbled infrastructure, crimes, and other social problems; however, few kinds of research studies covered the adverse impact on the property value. This paper plans to seek the effects of rural area migrants on Nanjing City in response to the late 1970 economic reform implementation as they aimed to extract benefits of reforms offering enhanced economic opportunities, higher rate of income and employment, and comprehensive social benefits. This study examined the negativity of urban villages on the surrounding area valuation and its impact on residential properties. The results of this study specified an adverse effect of urban villages on the value of nearby apartments; however, residential units closer to these villages experienced the worst impact compared to the residential apartments located far away. The findings revealed that urban villages' neighborhood negatively influences home selling value when compared with other houses located far away. This study is helpful for government officials and policymakers to resolve urban villages' issues.