Estimates of the coefficients of flood/sediment risk, net residential density, intersection density, and percentage of older adults for sale price quantiles ranging from 0.05 to 0.95 at 0.05 intervals.

The estimates are from the conditional quantile regression model. The years/quarters of transactions, floor space, land area, road width in front of the house, age of the house, main window orientation, travel time to Tokyo Station, and land use zone were adjusted. Conditional quantiles are displayed on the x-axis, and coefficients are presented on the y-axis. The black dots show the estimated coefficients. The gray area represents the 95% confidence intervals.</p

Location of the analytic sample (single-family detached houses sold between 2015 and 2020) and its geographical relationship with the Tokyo Metropolitan Area.

Location of the analytic sample (single-family detached houses sold between 2015 and 2020) and its geographical relationship with the Tokyo Metropolitan Area.</p

Estimates of the coefficients of facility density for quantiles of sale prices, ranging from 0.05 to 0.95 at 0.05 intervals.

The estimates are from the conditional quantile regression model. The years/quarters of transactions, floor space, land area, road width in front of the house, age of the house, main window orientation, travel time to Tokyo Station, and land use zones were adjusted. Conditional quantiles are displayed on the x-axis, and coefficients are presented on the y-axis. The black dots show the estimated coefficients. The gray area represents the 95% confidence intervals.</p

Characteristics^a of single-family detached houses sold between 2015 and 2020.

Characteristicsa of single-family detached houses sold between 2015 and 2020.</p

Comparison of the results^a^,^b of the conditional quantile regression models (50% quantile) between central and other cities.

Comparison of the resultsa,b of the conditional quantile regression models (50% quantile) between central and other cities.</p

Locations of the central and noncentral cities.

People’s preferences regarding their neighborhood environment can vary depending on their socioeconomic status and the cities where they live. This study aims to discern the relationship between neighborhood environment factors and single-family detached house sales by sale price and by central and noncentral cities. We analyzed sale prices in the Tokyo Metropolitan Area from 2015 to 2020. The neighborhood environment was assessed using flood/sediment risk and neighborhood walkability measured by net residential density, intersection density, and facility density (walking opportunity). Flood and sediment risk is a major concern that restricts the available land and is included as a negative aspect of the neighborhood environment, taking the topographic features into consideration. A comparison of the results showed that the preference for neighborhood walkability varies by socioeconomic status as well as by target cities. For most facility types, the number of walking opportunities within walking distance from houses was found to be positively related to the sale price of single-family detached houses in all quantiles. The relationship of house price with population and intersection density was found to vary depending on the price level, with a negative relationship with the sale price of relatively more expensive houses being exhibited. People who considered buying houses with relatively higher sale prices were found to devalue houses located in flood/sediment-hazardous areas more. However, it was also found that the negative relationship was slightly mitigated in the highest quantile of sale prices for houses in areas with a moderate flood risk (maximum flooding depth: 3–5 m). Plains near rivers with amenities offer high walkability but pose a flood risk, resulting in a trade-off between flood risk and neighborhood walkability. The findings suggest the use of indices representing diverse preferences in accordance with the target socioeconomic status when policymakers assess the neighborhood environment.</div

Neighborhood characteristics^a of single-family detached houses sold between 2015 and 2020.

Neighborhood characteristicsa of single-family detached houses sold between 2015 and 2020.</p

Comparison of the results^a^,^b of the conditional quantile regression models by price range (N = 71,289).

Comparison of the resultsa,b of the conditional quantile regression models by price range (N = 71,289).</p