The Impact of Shopping Mall Attributes and Social Media Dynamics on Residential Property Prices in Shanghai

Social media profoundly influences urban residents’ daily activity choices and urban space evolution. This study investigates the multifaceted impact of shopping malls and social media dynamics on residential property prices in Shanghai. Using a comprehensive data set from 2023, which includes data on 227 shopping malls, transaction records of 9,073 residential properties, and 2.4 million Weibo check-ins, this research applies a district-fixed hedonic pricing model and geographically weighted regression to explore how physical attributes of shopping malls and their social media popularity influence nearby property values. The findings reveal that accessibility, built environment quality, operational scale, and social media attractiveness of shopping malls significantly affect residential property prices, with social media check-ins serving as a potent indicator of a shopping mall’s attractiveness. This study confirms the substantial role of physical infrastructure in urban economic evaluations and highlights the increasing influence of digital interactions in reshaping real estate markets. The results offer critical insights for urban planners and policymakers, emphasizing the importance of integrating social media dynamics into urban development strategies to enhance property values and urban competitiveness.