Urban Space, Mixed Land Use, and Residential Land Prices: A Case Study of Nanjing, China

Residential land price is a critical component of housing prices and affordability, and existing studies of its influencing factors emphasize location and accessibility. This study analyzes the effects of neighborhood land use, especially employment and services, on residential land prices in Nanjing, a subcenter in the Yangtze River Delta region, China. We find that residential land prices are positively associated with producer services, as well as public and commercial services, and negatively associated with manufacturing. Further analysis reveals the spatial heterogeneity of the impact of manufacturing on residential land prices, which become positive in suburban regions. The effects of neighborhood land use on residential land prices are sensitive to the distance to the central business district. The geographically and temporally weighted regression model uncovers the temporal heterogeneity that the positive impacts of public and commercial services on residential land prices have been decreasing while the producer service is playing a more significant role. The results of this study contribute to the literature by shedding light on the impact of neighborhood land use on residential land prices based on spatial-temporal dynamics.