Evaluation of the social values and willingness to pay for conserving built heritage in Hong Kong

Esther H.K. Yung (Department of Building and Real Estate, The Hong Kong Polytechnic University, Hong Kong SAR, China)
Edwin H.W. Chan (Department of Building and Real Estate, The Hong Kong Polytechnic University, Hong Kong SAR, China)

Facilities

ISSN: 0263-2772

Publication date: 2 February 2015

Abstract

Purpose

This study aims to evaluate the relationship between the major factors of social value and the willingness to pay amount for conserving a historic site, using Hong Kong as a case study of a dense urban city with immense tension between conservation and development. It also evaluates, in monetary terms, the social values, which are almost impossible to measure in built heritage conservation.

Design/methodology/approach

It adopts evaluation ratings and the contingent valuation method to estimate Hong Kong citizens’ willingness to pay (WTP) for the conservation of the Central Police Station compound.

Findings

The results of 256 surveys suggest that the extent to which the historic site can provide a “sense of place and identity”, “social inclusion” and “community participation” is positively correlated to the WTP amount. The respondents’ satisfaction with the new use of the site, their work location and education level affected the amount they were willing to contribute to the conservation project. The reasons given for not being willing to contribute were also analysed to provide insights for cultural heritage policy.

Originality/value

The findings provide an enhanced understanding of the relationship between the major factors of social value and the WTP amount. This study proposes a partial tool to elicit the non-market value of heritage site which should be supplemented with experts’ evaluation to assist decision-making. It enhances public participation, particularly in the public–private partnership model of heritage conservation. Thus, it provides valuable insights for policymakers and planners to understand the public’s perception on the value of heritage conservation in cities facing immense redevelopment pressures.

Keywords

Acknowledgements

The study described in this paper was partially supported by a grant from the General Research Fund of the Hong Kong SAR Government (Project No. PolyU5407/11H).

Citation

Yung, E.H.K. and Chan, E.H.W. (2015), "Evaluation of the social values and willingness to pay for conserving built heritage in Hong Kong", Facilities, Vol. 33 No. 1/2, pp. 76-98. https://doi.org/10.1108/F-02-2013-0017

Publisher

:

Emerald Group Publishing Limited

Copyright © 2015, Emerald Group Publishing Limited

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