Abstract
There are many traditional wooden houses in Kyoto city, called Kyo-machiya. This study has the following purposes. The first is to measure the value of the neighborhood externalities of Kyo-machiya using Hedonic Price Method with both of Geographically Weighted Regression and Ordinary Least Squares Regression. The second is to clarify the spatial characteristics of this value and the distance which is influenced by the neighborhood externalities using Geographic Information System. As a result, the total value is about 65.5 billion yen in central area of Kyoto city. And there are spatial characteristics which two or more town blocks of high value are formed by a line according to street or by an area. Finally, the distance which is influenced by the neighborhood externalities of Kyo-machiya is about 144 meters, the influence reaches not only the adjoining town blocks but also the town blocks in the vicinity.
