The value of a south-facing orientation: A hedonic pricing analysis of the Shanghai housing market

The relationship between the view orientation of an apartment and its property value is examined in the context of Shanghai housing market. Using a hedonic pricing model and a unique dataset, comprised of apartment attributes, ambient environmental indicators and urban spatial structure, this paper shows that a south-facing orientation is associated on average with a 14% premium in property value. Among possible view orientations, due south...