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The Expected Effect of Historic Districts on Local Housing Prices in Tainan



Parallel abstracts

The Tainan City Historic District Policy is the only one in Taiwan that uses the autonomous regulations and combines the concept of urban planning for wide-area urban conservation. It is implemented in areas such as urban planning road review, which are difficult for former depositors to handle, and has a more complete award and subsidy mechanism. While historic preservation is thought to have the economic value, and historic designation has become an important tool to preserve neighborhood, efforts have been made to investigate if historic districts have positive spillovers or restriction on property values in surrounding neighborhoods. The purpose of this study is to examine the expected impact of historic district on regulated neighborhood and non-regulated neighborhood. This study employs hedonic price models to estimate local housing prices from 2013 to 2017 in Fucheng historic district. Results suggest that, to properties in the adjacent area of historic resources, that is, regulated area, the expecting costs is not more than benefits in every case. These findings indicate that to each historic resources, preservation could have negative or positive impact on local housing prices. Thus, the results have demonstrated that historic districts have both positive spillovers and restriction on property values in surrounding neighborhoods. In conclusion, the findings support the claim that historic preservation have the economic value.


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Shipley, R., Jonas, K., & Kovacs, J. F. (2011). Heritage Conservation Districts Work:Evidence from the Province of Ontario, Canada. Urban Affairs Review, 47(5), 611-641. doi:10.1177/1078087411400559