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3.4.3.1. The impact of building space environment greening designand greening promotion implementation methods on greeningbenefits and urban greening design policyBased on the results of variable effect analysis, the exogenousvariable “building space greening design” has a direct effect on bothgreening benefits and urban greening design policy; beta coefficientswere 0.669 and 0.301, respectively. Both direct effects and indirecteffects have 0.01 level of significance; these results also show that“building space greening design” has a significant positive impact ongreening benefits and urban greening design policy. Consequently,HypothesisH1 andHypothesisH2 are confirmed. Another exogenousvariable, “greeningpromotion implementationmethods” hada directeffect on urban greening design policy (beta¼0.347, p¼0.000).These results demonstrate the validity of Hypothesis H4 and alsoshow that “greening promotion implementation methods” hasasignificant positive impact on urban greening design policy.
4.3.2. The impact of greening benefit and urban greening designpolicy on urban real estate marketsThe endogenous variable “greening benefit” had a direct effecton both urban greening design policy and urban real estatemarket,with beta coefficients of 0.206 and 0.377, respectively; the 0.01level of significance was reached in both cases. These resultsconfirm the validity of Hypothesis H3 and Hypothesis H5 in thisstudy.The second endogenous variable, “urban greening designpolicy,” had an indirect effect on urban real estate markets,beta ¼0.229, p ¼ 0.000. These results exhibit a lower strength ofimpact compared to the 0.377 direct effect of “greening benefits,”but remain significant. These results show that the implementationTable 11The results of regression analysis for endogenous variables of the urban real estate of urban greening design policy has a positive impact on urban realestate markets, establishing Hypothesis H6 as true.In addition, that “building space environment greening design”and “greening promotion implementation method” are correlatedbased on the correlation analysis above (Table 10), the level ofsignificance of 0.01 was reached between all variables; the corre-lation coefficient between these two exogenous variables was0.308. Consequently, Hypothesis H7 was verified.4.4. Regression analysisThis study also utilized stepwise regression analysis (Table 11),finding that Construct A had a statistically significant negativeimpact on the “Construction Costs (E1)” construct, with a betacoefficient of 0.195; Construct A also had significant positiveimpacts on “Investment Benefits (E2)” and “Marketing (E3),” withbeta coefficients of 0.191 and 0.200, respectively. These results areconsistent with related domestic and foreign studies in that greendesignwill increase building construction ormaintenance costs butwill also increase the asset values of the buildings themselves andwill also increase residential willingness and improve buildingimage and reputation. In addition, the impacts of variables B, C, andD on the real estatemeasurement construct of “Building Costs (E1)”did not reach statistical significance, but did have significant posi-tive impacts on “Investment Benefits (E2)” (beta ¼ 0.363, p ¼ 0.000)and “Marketability (E3)” (beta ¼ 0.456, p ¼0.000). “GreeningBenefits (B)” had the greatest impact on “Investment Benefits (E2)”(beta¼ 0.363, p¼ 0.000) and “Marketability (E3)” (beta ¼ 0.456,p¼ 0.000), respectively.5. ConclusionsThe purpose of this paper was to examine whether greeningplans and promotion implementationmethods produced an impacton the economic benefits of urban real estate development throughgreening benefits and greening policy. The following conclusionswere reached:1. Empirical analysis in this study discovered that “Building spaceenvironment greening design” was negatively associated with“building costs.” This result suggests that when green buildingdesign is promoted in Taiwan in the future, “Greening position,”“Greening area,”“Planting allocation,” and “maintenance andmanagement” of buildings should be first regulated based ongreening design constructs (endogenous variables). In particular,the most recognized greening implementation locations such asground levels, roof levels, and balconies should be used as thebasis for building construction and maintenance costs.2. Also, “Building space environment greening design” exhibitedsignificant positive association with “Investment benefits” and“Marketability.” In particular, this variable had the greatest impacton “Marketability.” These results suggest that when developers promote architecturally green residence products, they shouldincorporate “Improvements in building image” and “Increases inmarket competitiveness” into marketing considerations.3. The research hypotheses introduced in this study were sup-ported by empirical testing and were demonstrated to indicatesignificant positive impacts, showing that green architecturalspace environment design do have positive benefits, consistentwith our review of literature. Greening benefits exhibit a positivesignificant impact on urban real estate markets, a result consis-tent with the results of related domestic and foreign studies. Atthe same time, greening promotion implementation methodsand urban policy regulations also had positive impacts on urbanreal estate markets, showing that governments can consider“Building greening regulations” in promoting green building andenvironment design or in “Urban design policies.” For example,governments can independently establish legal regulations andstrengthen the quality of life benefits brought by greening, suchas effective microclimate environment adjustments, creation ofgood leisure spaces and scenery, and improvements to air quality.AcknowledgementThe authors would like to thank the financial supports providedby the National Science Council in Taiwan ROC (NSC 98-2410-H-251-002 and NSC 97-2410-H-251-002), and the survey analysisassistance by Shu-Chuan Li and Dr. Chun-Chang Lee.