Document Type

Journal Article

Publication Date

2020

Keywords

Sustainable development; Urban environments; Environmental effects; Prices; Heritage; Neighborhoods; Policy making; Conservation; Built environment; Empirical analysis; Planners; Urban areas; Pricing; Cultural resources; Case studies; Sustainability; Cultural property; Architecture; Environmental policy; Hedonism; Reuse; Property; Cultural heritage

DOI

http://dx.doi.org.eproxy.vtclib9.vtc.edu.hk/10.1002/sd.2108

Abstract

The integration of the sustainable development perspective into the discussion of heritage conservation by UNESCO in 2015 represents an acknowledgement of the values of heritage conservation in the agenda of sustainable development. This paper aims to provide empirical evidence regarding how heritage conservation fits into the overall sustainable development in Hong Kong by examining the external effects generated by architectural heritage conservation onto their adjacent neighborhood. By two adaptive reuse heritage case studies with respective hedonic pricing analysis on their adjacent property prices, this paper presents the results of how residential property prices have been increased as a result of heritage adaptive reuse. The analysis suggests that an established heritage grading mechanism along with a socially inclusive conservation approach with community stakeholders not only maintains the authenticity of the cultural heritage, but also brings substantial social and economic benefits to the neighboring communities. The research findings add new knowledge.

Source Publication

Sustainable Development

Volume Number

Vol. 28

Issue Number

Iss. 6

ISSN

09680802

First Page

1597

Last Page

1608

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