Scientific Development Research

Urban renewal not only reshapes physical spatial configurations but also indirectly influences surrounding real estate markets through improved living environments, enhanced public service facilities, and capital investments. The renewal process typically elevates regional image, boosts land use efficiency, and stimulates employment and commercial prosperity, thereby driving up housing prices. However, uncertainties may arise from demolition resettlement, shifts in social demographics, and short-term construction noise. Focusing on the mechanisms through which urban renewal affects housing prices, this study reveals the intrinsic logic linking spatial spillover effects, capital accumulation, and social structural adjustments. The findings provide theoretical support for understanding the dynamic interactions between urban renewal and housing markets.

Urban renewal; Housing price; Spatial spillover effect; Capital accumulation; Social structure