Dr Wendy Chen, a Research Assistant Professor in the Department of Geography, has been exploring the financial advantage of ocean views in comparison with mountain views and neighbourhood parks.
"We try to use some ecometric methods to separate the value of different natural landscapes so we can inform residential developers," she says. "Then they can assess the value of including a nature landscape in their residential developments."
What she's found is that homebuyers attach greater value to ocean or harbour views, but that any natural landscape is desirable.
In high density urban areas, where a natural view has already been built out, developers can add value to their properties, and attract potential buyers, by incorporating green elements, like a garden or a pond.
"This sort of research is useful to developers," she explains, "but also to the government, because we need to evaluate the quality of urban life. In addition to education and income, green accounting is a very important element to evaluate the quality of urban life. Green places are good, not just because of the views they provide, but also because of their effect on air quality. In addition they allow room for recreational activities that can enhance the cohesion of a community. We need to encourage the development of more neighbourhood parks, which are important not only to improve the quality of urban life in Hong Kong, but also offer other benefits that people can enjoy."
"Research shows that a natural view adds value to a property."
"People like to be close to nature, they like to hear birdsong and to experience the wildlife that parks attract. Scientific evidence shows that natural landscapes are very beneficial to human mental health and also to physical recovery in hospital patients."
"For a city to be successful long term it needs to attract creative types, and evidence shows that creative people choose green, clean environments. Unless Hong Kong makes more of an effort to improve air quality and increase green spaces it may lose its creative workforce over the long term."
Open, natural landscapes also help alleviate urban heating. But, says Dr Chen, there is still a gap between the research and the application in Hong Kong.
"I know that the government is trying to develop more green areas, with roof gardens and vertical greening, which are good options in such a dense city, but the economic index is still widely applicable here. Also, developers are not entirely open to greening because land here is very very expensive."
