| dc.description.abstract | This study investigates the impact of urban renewal areas versus non-renewal areas on real estate
prices in Taoyuan City, Taiwan. The analysis covers real estate transaction data from 2012 to 2023,
employing multiple linear regression models for empirical analysis. The results indicate that real estate
prices in urban renewal areas are significantly higher than those in non-renewal areas, particularly in
regions with better infrastructure and greater future development potential.
Within the scope of this study, real estate prices in urban renewal areas benefit from newer facilities,
better locations, and the impetus of regional development plans. In contrast, non-renewal areas experience
slower price growth due to relatively underdeveloped infrastructure and public services. Additionally, the
study finds that factors such as building area, house structure, age of the property, floor height, and
proximity to transportation hubs significantly influence property prices.
Based on the empirical results, the study offers several recommendations. Firstly, policymakers
should focus on developing urban renewal areas by enhancing infrastructure to promote price growth and
regional development. It′s also essential to balance development with environmental protection, ensuring
that new transportation facilities do not excessively impact the lives of nearby residents. Secondly, real
estate developers should consider providing comprehensive public facilities and a good living
environment when developing new projects in urban renewal areas to attract more buyers. Developers
should target potential urban renewal areas to leverage the appreciation space brought by future
development. Lastly, potential homebuyers and investors should focus on properties in urban renewal
areas, as they have higher appreciation potential, especially those near transportation hubs and green
spaces. Additionally, attention should be given to house structure and functionality to choose properties
that meet living needs and have appreciation potential.
Future research should focus on the following directions: Firstly, investigating the long-term impact
of urban renewal on property prices and assessing the impact of policy changes on the market. Secondly, incorporating more socioeconomic variables into the model, such as household income, education levels,and community safety, to comprehensively understand the factors influencing property prices. Thirdly, combining Geographic Information Systems (GIS) for spatial analysis to explore the finer impacts of location on property prices. Finally, comparing the research results of Taoyuan City with other cities to explore the similarities and differences in the impact of urban renewal development on property prices across different cities, providing more general conclusions and recommendations. | en_US |