With the development of urbanization, the protection and renewal of historic districts have become important issues. China has established a multi-level protection system, but still faces challenges such as inadequate mechanisms, excessive commercialization, and insufficient funding. Research indicates that in high-density urban areas, the alteration of the appearance of historic districts exacerbates psychological stress among residents, while excessive commercialization destroys the facade texture, weakens a sense of place, and impacts mental health. VR technology shows significant potential in spatial perception research, enabling precise analysis of the influence of different elements. However, the impact of spatial elements in historical and cultural districts on mental and physical well-being remains unclear. Therefore, this study uses VR experiments to explore the influence of building facade elements on human spatial perception. The study selected a typical street in the Pan tang Historic Neighborhood of Liwan District, Guangzhou, which retains its Qing Dynasty layout and appearance. Through field research and questionnaire surveys, key spatial elements were identified, and the confounding matrix theory was used to screen the elements to be reproduced in VR. A street model was constructed in Unreal Engine, and eye-tracking data were collected using HTC VIVE PRO EYE devices. The analysis of visitors’ preferences for facade perceptions was conducted to precisely optimize historical architectural elements, exploring their effects on psychological perception and emotional relaxation, thereby enhancing historical and cultural identity and residents’ physical and mental well-being.