The Premium of Public Perceived Greenery: A Framework Using Multiscale GWR and Deep Learning

Population agglomeration and real estate development encroach on public green spaces, threatening human settlement equity and perceptual experience. Perceived greenery is a vital interface for residents to interact with the urban eco-environment. Nevertheless, the economic premiums and spatial scale of such greenery have not been fully studied because a comprehensive quantitative framework is difficult to obtain. Here, taking advantage of big geodata and deep learning to quantify public perceived greenery, we integrate a multiscale GWR (MGWR) and a hedonic price model (HPM) and propose an analytic framework to explore the premium of perceived greenery and its spatial pattern at the neighborhood scale. Our empirical study in Beijing demonstrated that (1) MGWR-based HPM can lead to good performance and increase understanding of the spatial premium effect of perceived greenery; (2) for every 1% increase in neighborhood-level perceived greenery, economic premiums increase by 4.1% (115,862 RMB) on average; and (3) the premium of perceived greenery is spatially imbalanced and linearly decreases with location, which is caused by Beijing’s monocentric development pattern. Our framework provides analytical tools for measuring and mapping the capitalization of perceived greenery. Furthermore, the empirical results can provide positive implications for establishing equitable housing policies and livable neighborhoods.