Influence of POI Accessibility on Temporal–Spatial Differentiation of Housing Prices: A Case Study of Hangzhou, China

Abstract

People usually take point of interest (POI) accessibility into consideration when choosing a residential location. Based on a digital map and actual traffic time costs, this paper measures the accessibility of residential communities to the urban center, employment center, and other related POIs in Hangzhou, China. Furthermore, three different models of geographically weighted regressions are constructed in order to explore the dynamic impact of the accessibility of POIs on housing prices. The results show that the geographically and temporally weighted regression model has the best goodness of fit. The evolution of POI accessibility is an essential driving force for the temporal–spatial differentiation of housing prices; significant differences also exist in their impact on residential prices across time and space. The residential prices in Hangzhou present an evolving multicenter spatial distribution pattern. In addition to the accessibility of central business district (CBD) and employment concentration, the quality of education resources and access to convenient transportation have become more prominent in terms of the impact on housing prices over time.