A hedonic analysis of the demand for and benefits of urban recreation parks

Poudyal, Neelam C.; Hodges, Donald G.; Merrett, Christopher D.

doi:10.1016/j.landusepol.2008.11.008

Cited by 145 publications

(75 citation statements)

References 45 publications

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“…However, the relationship is not statistically significant. This finding is not in line with the works of Hui et al (2006), Tse and Love (2000), and Chen (2009), andPoudyal et al (2009). They reported negative and significant relationships between house prices and age of the properties.…”

Section: Resultscontrasting

confidence: 75%

“…Therefore, the sustainable neighborhood should have services on healthcare, education, and special needs. Empirical results show that short distance to the workplace, schools, and retailing outlets have been found to significantly affect house prices (Chin et al 2004, Hui et al 2007, Jim and Chen 2006, Jim and Chen 2007, Redfearn 2008, Jim and Chen 2009, Poudyal et al 2009. This indicates that house price is determined not only by accessibility, but also savings in transportation costs.…”

Section: Literature Reviewmentioning

confidence: 99%

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Measuring the Willingness to Pay for Houses in a Sustainable Neighborhood

Tan¹

2011

The International Journal of Environmental, Cultural, Economic,

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This paper determine the responsiveness of the willingness to pay to changes in structural, locational, and neighborhood attributes of housing that incorporate sustainability objectives. In this study, 299 households from Kuala Lumpur and Selangor in Malaysia were interviewed. Results show that housing developers should build the neighborhood that promotes sustainability as house buyers generally are willing to pay more to live in a sustainable neighborhood. In order to build a progressive low carbon economy, the government should create the vision and give policy directions and guidelines that describe all aspects necessary of a sustainable neighborhood.

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Section: Resultscontrasting

confidence: 75%

Section: Literature Reviewmentioning

confidence: 99%

Measuring the Willingness to Pay for Houses in a Sustainable Neighborhood

Tan¹

2011

The International Journal of Environmental, Cultural, Economic,

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“…The problem of accessibility to housing becomes more critical among the middle income group earners given that the lower income group housing needs are addressed by the governments in developed and developing countries. With respect to the locational attributes of housing, distance to the workplace, schools, retailing outlets and public transportation stations have been found to significantly affect house prices (Poudyal, Hodges, & Merrett, 2009). …”

Section: Accessibilitymentioning

confidence: 99%

Exploring the Elements of Housing Price in Malaysia

Osmadi

Kamal²,

Hassan³

et al. 2015

ASS

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This informative study explores the elements of housing price in Malaysia and found the price is affected by many factors. This study of great practical significance has shown that house prices are determined by the demand for attributes, not only of the dwelling units themselves, but also of the region in which the units are located. There are many structural, neighborhood and locational attributes that could have brought impacts on house prices (Chin, Chau, & Ng, 2004). Structural characteristics, location-specific factors, and neighbourhood characteristics may define various sub-markets. Sub-markets may be defined by structure type (e.g. single-family detached, row house, town home, and condominium), by structural characteristics (property age housing consumers may have strong preferences for newly constructed properties or for historic properties), or by neighbourhood characteristics (e.g., public education and public safety). Results show that the housing price in Malaysia evidently depends on population, demand and supply, location, physical characteristic, accessibility, developer, cost of material and income. It is also influenced by neighbourhood factors as people nowadays will likely choose a better neighbourhood. These factors determine whether the housing price will be high or low. In summary, the government must take an active role to monitor and take appropriate measures to control property prices.

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“…Common neighborhood attributes are quality of public schools, distance to urban park, and a view of garden, sea, lake, and valley. Distance to workplace, school, retailing outlets and public transportation stations are part of locational attributes (Hui et al 2007, Jim and Chen 2006, Jim and Chen 2007, Redfearn 2009, Jim and Chen 2009, Poudyal et al 2009.…”

Section: Literature Reviewmentioning

confidence: 99%

Neighborhood preferences of house buyers: the case of Klang Valley, Malaysia

Tan

2011

International Journal of Housing Markets and Analysis

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ABSTRACT:Purpose -This paper attempts to examine the impacts of neighborhood types, as defined by a gated-guarded neighborhood with landscape compound and a freehold tenure neighborhood on residential property values in Klang Valley, Malaysia.Design/methodology/approach -A weighted least squares method together with a heteroscedasticity consistent covariance matrix estimator is used to estimate the coefficients of structural, locational, and neighborhood attributes of dwellings on house prices. Practical implications -In order to meet the increasingly affluent and discerning house buyers, developers instead of just offering dream homes in prime locations, they should provide intangible benefits in the neighborhood that just as sought after by today's house buyers, such as a sense of security in the landscape compound, a feeling of harmony with one's surroundings, and an infrastructure which supports the lifestyle of house buyers.Originality/ value -House buyers in Malaysia are increasingly aware of the value of gated-guarded and freehold neighborhoods. However, there is little evidence to assess the value provided by such neighborhoods in Klang Valley, Malaysia. This paper aims to determine the responsiveness of the willingness to pay to changes in neighborhood types.

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A hedonic analysis of the demand for and benefits of urban recreation parks

Cited by 145 publications

References 45 publications

Measuring the Willingness to Pay for Houses in a Sustainable Neighborhood

Measuring the Willingness to Pay for Houses in a Sustainable Neighborhood

Exploring the Elements of Housing Price in Malaysia

Neighborhood preferences of house buyers: the case of Klang Valley, Malaysia

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