IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v13y2021i23p13413-d694705.html
   My bibliography  Save this article

Which Residential Clusters of Walkability Affect Future Population from the Perspective of Real Estate Prices in the Osaka Metropolitan Area?

Author

Listed:
  • Haruka Kato

    (Department of Housing and Environmental Design, Graduate School of Human Life Science, Osaka City University, Osaka 5588585, Japan)

  • Atsushi Takizawa

    (Department of Housing and Environmental Design, Graduate School of Human Life Science, Osaka City University, Osaka 5588585, Japan)

Abstract

In Japan, where the population is declining and aging significantly, walkability has attracted attention as a way to improve residents’ lifestyles. Therefore, it is essential to identify the residential clusters where walkability improvement would contribute to the maintenance of the population in order to select urban areas for the implementation of walkable designs. This study aimed to identify the residential clusters in which walkability affects the future population from the perspective of real estate prices. The reason for focusing on real estate prices is that they are expected to be a confounding factor connecting walkability and the future population. The method we used was to analyze the structural equation modeling of the impact of walkability index, real estate prices, and future population change ratio. This analysis was based on the neighborhood association scale. This study clarified that effective residential clusters are the business center cluster and the sprawl cluster. In the business center cluster and the sprawl cluster, the price of apartments for sale is the real estate value, through which the walkability index positively impacts the future population change ratio. This means that it is expected to contribute to the maintenance of the future population through a combination of walkable designs and housing policies that encourage people to change their residence types to apartments for sale when rebuilding old building stock using the location optimization plan policy.

Suggested Citation

  • Haruka Kato & Atsushi Takizawa, 2021. "Which Residential Clusters of Walkability Affect Future Population from the Perspective of Real Estate Prices in the Osaka Metropolitan Area?," Sustainability, MDPI, vol. 13(23), pages 1-20, December.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:23:p:13413-:d:694705
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/13/23/13413/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/13/23/13413/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. John L. Renne & Tara Tolford & Shima Hamidi & Reid Ewing, 2016. "The Cost and Affordability Paradox of Transit-Oriented Development: A Comparison of Housing and Transportation Costs Across Transit-Oriented Development, Hybrid and Transit-Adjacent Development Statio," Housing Policy Debate, Taylor & Francis Journals, vol. 26(4-5), pages 819-834, September.
    2. Eun Jung Kim & Hyunjung Kim, 2020. "Neighborhood Walkability and Housing Prices: A Correlation Study," Sustainability, MDPI, vol. 12(2), pages 1-18, January.
    3. Trichês Lucchesi, Shanna & Larranaga, Ana Margarita & Bettella Cybis, Helena Beatriz & Abreu e Silva, João António de & Arellana, Julian Alberto, 2021. "Are people willing to pay more to live in a walking environment? A multigroup analysis of the impact of walkability on real estate values and their moderation effects in two Global South cities," Research in Transportation Economics, Elsevier, vol. 86(C).
    4. Gary Pivo & Jeffrey D. Fisher, 2011. "The Walkability Premium in Commercial Real Estate Investments," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 39(2), pages 185-219, June.
    5. Maennig, Wolfgang & Dust, Lisa, 2008. "Shrinking and growing metropolitan areas asymmetric real estate price reactions?: The case of German single-family houses," Regional Science and Urban Economics, Elsevier, vol. 38(1), pages 63-69, January.
    6. Haruka Kato & Daisuke Matsushita, 2021. "Changes in Walkable Streets during the COVID-19 Pandemic in a Suburban City in the Osaka Metropolitan Area," Sustainability, MDPI, vol. 13(13), pages 1-20, July.
    7. Jingyuan Zhang & Puay Yok Tan & Hui Zeng & Ye Zhang, 2019. "Walkability Assessment in a Rapidly Urbanizing City and Its Relationship with Residential Estate Value," Sustainability, MDPI, vol. 11(8), pages 1-20, April.
    8. Austin Boyle & Charles Barrilleaux & Daniel Scheller, 2014. "Does Walkability Influence Housing Prices?," Social Science Quarterly, Southwestern Social Science Association, vol. 95(3), pages 852-867, September.
    9. Haruka Kato, 2020. "Effect of Walkability on Urban Sustainability in the Osaka Metropolitan Fringe Area," Sustainability, MDPI, vol. 12(21), pages 1-17, November.
    10. Haruka Kato & Atsushi Takizawa & Daisuke Matsushita, 2021. "Impact of COVID-19 Pandemic on Home Range in a Suburban City in the Osaka Metropolitan Area," Sustainability, MDPI, vol. 13(16), pages 1-11, August.
    11. Yumi Saita & Chihiro Shimizu & Tsutomu Watanabe, 2016. "Aging and real estate prices: evidence from Japanese and US regional data," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 9(1), pages 66-87, March.
    12. Zelong Xia & Hao Li & Yuehong Chen, 2018. "Assessing Neighborhood Walkability Based on Usage Characteristics of Amenities under Chinese Metropolises Context," Sustainability, MDPI, vol. 10(11), pages 1-18, October.
    13. Ginevra Balletto & Mara Ladu & Alessandra Milesi & Giuseppe Borruso, 2021. "A Methodological Approach on Disused Public Properties in the 15-Minute City Perspective," Sustainability, MDPI, vol. 13(2), pages 1-19, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Shunpei Kamino & Haruka Kato, 2024. "Increase in Households Triggered by Accommodation Closure Due to the COVID-19 Pandemic in the Historical Center of Kyoto City," Sustainability, MDPI, vol. 16(22), pages 1-16, November.
    2. Riku Tanaka & Haruka Kato & Daisuke Matsushita, 2023. "Population Decline and Urban Transformation by Tourism Gentrification in Kyoto City," Sustainability, MDPI, vol. 15(3), pages 1-14, January.
    3. Haruka Kato & Atsushi Takizawa, 2022. "Population Decline through Tourism Gentrification Caused by Accommodation in Kyoto City," Sustainability, MDPI, vol. 14(18), pages 1-12, September.
    4. Anna Visvizi & Shahira Assem Abdel-Razek & Roman Wosiek & Radosław Malik, 2021. "Conceptualizing Walking and Walkability in the Smart City through a Model Composite w 2 Smart City Utility Index," Energies, MDPI, vol. 14(23), pages 1-20, December.
    5. Mikio Yoshida & Haruka Kato, 2022. "Housing Affordability of Private Rental Apartments According to Room Type in Osaka Prefecture," Sustainability, MDPI, vol. 14(12), pages 1-13, June.
    6. Bruno Jardim & Miguel de Castro Neto, 2022. "Walkability Indicators in the Aftermath of the COVID-19 Pandemic: A Systematic Review," Sustainability, MDPI, vol. 14(17), pages 1-24, September.
    7. Kestutis Zaleckis & Szymon Chmielewski & Jūratė Kamičaitytė & Indre Grazuleviciute-Vileniske & Halina Lipińska, 2022. "Walkability Compass—A Space Syntax Solution for Comparative Studies," Sustainability, MDPI, vol. 14(4), pages 1-25, February.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Murakami, Jin & Villani, Caterina & Talamini, Gianni, 2021. "The capital value of pedestrianization in Asia's commercial cityscape: Evidence from office towers and retail streets," Transport Policy, Elsevier, vol. 107(C), pages 72-86.
    2. Haruka Kato & Atsushi Takizawa & Daisuke Matsushita, 2021. "Impact of COVID-19 Pandemic on Home Range in a Suburban City in the Osaka Metropolitan Area," Sustainability, MDPI, vol. 13(16), pages 1-11, August.
    3. Jônatas Augusto Manzolli & André Oliveira & Miguel de Castro Neto, 2021. "Evaluating Walkability through a Multi-Criteria Decision Analysis Approach: A Lisbon Case Study," Sustainability, MDPI, vol. 13(3), pages 1-20, January.
    4. Omer Dogan & Jaewon Han & Sugie Lee, 2021. "Opening Gated Communities and Neighborhood Accessibility Benefits: The Case of Seoul, Korea," IJERPH, MDPI, vol. 18(8), pages 1-15, April.
    5. Eun Jung Kim & Hyunjung Kim, 2020. "Neighborhood Walkability and Housing Prices: A Correlation Study," Sustainability, MDPI, vol. 12(2), pages 1-18, January.
    6. Jie Wang & Biyu Peng & Xiaohua Xia & Zhu Ma, 2021. "Are Housing Prices Sustainable in 35 Large and Medium-Sized Chinese Cities? A Study Based on the Cheap Talk Game and Dynamic GMM," Sustainability, MDPI, vol. 13(22), pages 1-18, November.
    7. Trichês Lucchesi, Shanna & Larranaga, Ana Margarita & Bettella Cybis, Helena Beatriz & Abreu e Silva, João António de & Arellana, Julian Alberto, 2021. "Are people willing to pay more to live in a walking environment? A multigroup analysis of the impact of walkability on real estate values and their moderation effects in two Global South cities," Research in Transportation Economics, Elsevier, vol. 86(C).
    8. Bruno Jardim & Miguel de Castro Neto, 2022. "Walkability Indicators in the Aftermath of the COVID-19 Pandemic: A Systematic Review," Sustainability, MDPI, vol. 14(17), pages 1-24, September.
    9. Eun Jung Kim & Jaewoong Won & Jiyeong Kim, 2019. "Is Seoul Walkable? Assessing a Walkability Score and Examining Its Relationship with Pedestrian Satisfaction in Seoul, Korea," Sustainability, MDPI, vol. 11(24), pages 1-17, December.
    10. Haruka Kato & Daisuke Matsushita, 2021. "Changes in Walkable Streets during the COVID-19 Pandemic in a Suburban City in the Osaka Metropolitan Area," Sustainability, MDPI, vol. 13(13), pages 1-20, July.
    11. Jingyuan Zhang & Puay Yok Tan & Hui Zeng & Ye Zhang, 2019. "Walkability Assessment in a Rapidly Urbanizing City and Its Relationship with Residential Estate Value," Sustainability, MDPI, vol. 11(8), pages 1-20, April.
    12. Chinmoy Ghosh & Venkatesh Panchapagesan & Madalasa Venkataraman, 2024. "On the Impact of Infrastructure Improvement on Real Estate Property Values: Evidence from a Quasi-natural Experiment in an Emerging Market," The Journal of Real Estate Finance and Economics, Springer, vol. 68(1), pages 103-137, January.
    13. Oliver W. Lerbs, 2014. "House prices, housing development costs, and the supply of new single-family housing in German counties and cities," Journal of Property Research, Taylor & Francis Journals, vol. 31(3), pages 183-210, September.
    14. Kevin Credit & Elizabeth Mack, 2019. "Place-making and performance: The impact of walkable built environments on business performance in Phoenix and Boston," Environment and Planning B, , vol. 46(2), pages 264-285, February.
    15. Amir Reza Khavarian-Garmsir & Ayyoob Sharifi & Mohammad Hajian Hossein Abadi & Zahra Moradi, 2023. "From Garden City to 15-Minute City: A Historical Perspective and Critical Assessment," Land, MDPI, vol. 12(2), pages 1-15, February.
    16. Oliver Lerbs, "undated". "House Prices, Housing Development Costs, and the Supply of New Single-Family Housing in German Counties and Cities," Working Papers 201283, Institute of Spatial and Housing Economics, Munster Universitary.
    17. John Landis & Vincent J. Reina, 2021. "Do Restrictive Land Use Regulations Make Housing More Expensive Everywhere?," Economic Development Quarterly, , vol. 35(4), pages 305-324, November.
    18. Ibraeva, Anna & Correia, Gonçalo Homem de Almeida & Silva, Cecília & Antunes, António Pais, 2020. "Transit-oriented development: A review of research achievements and challenges," Transportation Research Part A: Policy and Practice, Elsevier, vol. 132(C), pages 110-130.
    19. Steve O’Hern & Roni Utriainen & Hanne Tiikkaja & Markus Pöllänen & Niina Sihvola, 2021. "Exploratory Analysis of Pedestrian Road Trauma in Finland," Sustainability, MDPI, vol. 13(12), pages 1-14, June.
    20. M. Bielik & R. König & S. Schneider & T. Varoudis, 2018. "Measuring the Impact of Street Network Configuration on the Accessibility to People and Walking Attractors," Networks and Spatial Economics, Springer, vol. 18(3), pages 657-676, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:13:y:2021:i:23:p:13413-:d:694705. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.