1# RECORD cbca708e6a3e8af63d629068afb1ef0a8bfdc1482# TITLE: The Impact of Open Spaces on Residential Property Values3# YEAR: 2025.0 VENUE: Lecture Notes in Education Psychology and Public Media DOI: 10.54254/2753-7048/2024.194944# AUTHORS: Rui Wu5# PAGES: 10 CANDIDATE TABLE PAGES (1-based): []6# ABSTRACT: The increasing population density in urban areas leads to further construction of houses, and less land is being distributed to open spaces. Thus, there are preservation efforts in many cities to preserve open spaces and maintain the benefits. Ultimately, people desire to live near open spaces to enjoy their benefits, impacting the residential property values. This study attempts to explore the relationship between open spaces and the effects on the values of its neighboring residential properties, specifically in the city of Shanghai, using the hedonic model. The study analyzed the impact through several aspects, including open space type, size, and proximity to residential properties. Results suggest that open spaces, in general, do have the impact of increasing residential property values, and the effect could vary according to the size, type, and distance to residential property. This study helps decision-makers better implement future housing policies and city planning models.789===== PAGE 1 (score 6, numeric-paren 0, table-words 0, var-words 6) =====1011Proceedings of the 2nd International Conference on Global Politics and Socio-Humanities12DOI: 10.54254/2753-7048/2024.1949413© 2026 The Authors. This is an open access article distributed under the terms of the Creative Commons Attribution License 4.014(https://creativecommons.org/licenses/by/4.0/).1512516 17 18The Impact of Open Spaces on Residential Property Values 19Ruihao Wu1,a,* 201Shanghai United International School, Hongsong East Street, Shanghai, China 21a. cocofeinie@tzc.edu.cn 22*corresponding author 23Abstract: The increasing population density in urban areas leads to further construction of 24houses, and less land is being distributed to open spaces. Thus, there are preservation efforts 25in many cities to preserve open spaces and maintain the benefits. Ultimately, people desire to 26live near open spaces to enjoy their benefits, impacting the residential property values. This 27study attempts to explore the relationship between open spaces and the effects on the values 28of its neighboring residential properties, specifically in the city of Shanghai, using the hedonic 29model. The study analyzed the impact through several aspects, including open space type, 30size, and proximity to residential properties. Results suggest that open spaces, in general, do 31have the impact of increasing residential property values, and the effect could vary according 32to the size, type, and distance to residential property. This study helps decision-makers better 33implement future housing policies and city planning models. 34Keywords: Residential property values, Open space, Hedonic model. 351. 36Introduction 37In the current society, over 50% of the population lives in cities [1], causing the population density 38in cities to rapidly increase. In particular, the city of Shanghai in China is one of the most populated 39megacities and has experienced rapid growth. From the year 2000 to 2023, Shanghai experienced an 40increase in the population of over 10 million, resulting in a population of over 29 million in 2023 [2]. 41Under these circumstances, housing and infrastructures are continuously being built while 42progressively more proportions of the land are being occupied. Consequently, open spaces in cities 43often shrink and are replaced by buildings. However, open space still serves as a crucial amenity that 44offers social and economic values such as aesthetic values, health benefits, and far more; therefore, it 45is often preserved even in urbanized places. 46There were many different preservation policies attempted by governments to preserve open 47spaces in urban cities. For instance, there was a tax abatement system proposed in Massachusetts 48where landowners could enjoy the deferral of real estate taxes as long as they kept the land open and 49undeveloped [3]. This incentivizes landowners to refrain from development and, therefore, preserve 50open spaces. Additionally, the Dutch government has also employed spatial planning, where they set 51restrictive zones on parts of the country to limit the number of buildings [4]. This controls the rate of 52urban expansion while also preserving the open spaces. 53Open spaces possess great social and economic significance to society, causing governments to 54often preserve them, and people also often desire to live near them. Hence, it is important to study 55and learn the values provided by open spaces and how they may impact surrounding property values. 56