Impacts of a Pedestrianisation Scheme on Retail Rent - An Empirical Study in Hong Kong

16 Pages Posted: 4 Jun 2009

See all articles by Chung Yim Edward Yiu

Chung Yim Edward Yiu

Chinese University of Hong Kong - Department of Geography and Resource Management

Date Written: June 3, 2009

Abstract

Most of the previous studies on the impacts of pedestrianised areas on the environment were qualitative ones, and without controls. This study, in contrast, using panel market data in Hong Kong to estimate the effect of a pedestrianisation scheme on the retail rent of the area, in a controlled manner. The results show a net 17% increase in rental value of retail shops in the pedestrianised area is achieved, ceteris paribus.

Keywords: Pedestrianised areas, retail rent, empirical test

JEL Classification: C93

Suggested Citation

Yiu, Chung Yim Edward, Impacts of a Pedestrianisation Scheme on Retail Rent - An Empirical Study in Hong Kong (June 3, 2009). Available at SSRN: https://ssrn.com/abstract=1414108 or http://dx.doi.org/10.2139/ssrn.1414108

Chung Yim Edward Yiu (Contact Author)

Chinese University of Hong Kong - Department of Geography and Resource Management ( email )

Shatin
the New Territories
Hong Kong
Hong Kong

HOME PAGE: http://www.grm.cuhk.edu.hk/eng/people/ppl/fac_YiuEdward.html

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