Do Green Spaces Explain Green Gentrification? Assessing How Green Space Characteristics Explain Changes in Housing Prices and Household Income

Date

6-2024

Degree

Bachelor of Science in Economics

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Veronica Castillo

Committee Member

Emmanuel Genesis T. Andal, Gideon P. Carnaje, Maria Angeles O. Catelo

Abstract

Urbanization has reshaped the development of Philippine cities characterized by congestion and environmental degradation. The greening initiatives to combat such issues may have implications on neighborhood compositions and displacement, or the so-called gentrification. Thus, this research focused on examining whether green space development in the country’s first eco-city development may contribute to changes in house prices and household income. Using data from the 97 randomly sampled households in Barangay Don Jose, which are within 4,000-meter radius of the eco-city, the researcher employed a hedonic pricing method and geographically weighted regression to analyze the relationship between green space characteristics and housing prices. Logistic regression was utilized to assess how green space characteristics influence gentrification, particularly examining the influence of aesthetic and the number of trees within the house to the likelihood that households will be below median income. Findings revealed that the proximity to green spaces, particularly the eco-city, significantly influenced housing prices. While the presence of trees appreciated rent prices, its effect is limited. Logistic regression indicates an association between tree presence and household income, suggesting that tree-lined streets are a standard feature in wealthier neighborhoods. However, the aesthetic characteristic does not emerge as a significant predictor, indicating that the eco-city primarily elevates property values within existing residential communities.

Language

English

LC Subject

Gentrification, Housing, Prices, Income

Location

UPLB College of Economics and Management (CEM)

Call Number

LG 993.5 2024 E2 T67

Notes

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Document Type

Thesis

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