A hedonic analysis of the impact of LUST sites on house prices

Zabel, Jeffrey; Guignet, Dennis

doi:10.1016/j.reseneeco.2012.05.006

Cited by 62 publications

(38 citation statements)

References 14 publications

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“…Zabel and Guignet [32] 1996-2007 Maryland Leaking underground storage tanks When a leak site is found, local properties prices will plunge by 5%. The negative effect will increase after public inquiry.…”

Section: Study Period and Region Facilities/ Activities Effects On Prmentioning

confidence: 99%

“…We obtain the required variables from SFUN and Google Maps including housing prices, sale state, trading year, property location, property area, greening rate, plot ratio, the number of bedrooms, supermarkets, bus stops, hospitals, schools, and parks, and the distances between the property and the nearby central business district (CBD), district government, WTE plants, and open water bodies. Although much previous literature has focused on single-family homes [32], more attention in this paper is paid to high-rise buildings and multiple dwellings due to the high population density. Furthermore, in order to better reflect family purchasing preferences, rental data are excluded.…”

Section: Sales Datamentioning

confidence: 99%

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Effects of Waste-to-Energy Plants on China’s Urbanization: Evidence from a Hedonic Price Analysis in Shenzhen

2017

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Abstract:Along with the accelerated process of China's urbanization, the increasing urban population has put much pressure on solid waste disposal. A speeding-up development plan of waste incineration power generation has been launched in China, which aims to resolve the dilemma where many cities are besieged by waste. However, due to the potential impact on surrounding environment, the site selection of these facilities has encountered protests from local residents. The economic reflection of the non-market public sentiment precisely embodies the prices of surrounding real estate market. Taking Shenzhen city as an example, this paper applies a hedonic price model to evaluate its impact on local housing values. The results show that for every additional kilometer the property is away from WTE (waste-to-energy) plants, the value of real estate can increase by 1.30%. If the distance is restricted to within 5 km, the effect rises to 8.6%, which remarkably increases negative externality. In addition, the depreciation impacts on property in two regions of Shenzhen city are significantly different. Policies for reducing the negative effects of the WTE plants are recommended.

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Section: Study Period and Region Facilities/ Activities Effects On Prmentioning

confidence: 99%

Section: Sales Datamentioning

confidence: 99%

Effects of Waste-to-Energy Plants on China’s Urbanization: Evidence from a Hedonic Price Analysis in Shenzhen

2017

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“…A common approach used in the hedonic literature to correct this potential bias is to include local fixed effects (Hoen et al, 2009(Hoen et al, , 2011Zabel and Guignet, 2012), which is our approach as described in formula (1).…”

Section: Spatial Dependencementioning

confidence: 99%

“…To control for both of these issues simultaneously, we use a difference-in-difference (DD) specification (see e.g., Hinman, 2010;Zabel and Guignet, 2012) derived from the interaction of 9 The dataset does not include "participating" landowners, those that have turbines situated on their land, but does include "neighboring" landowners, those adjacent to or nearby the turbines. One reviewer notes that the estimated average effects also include any effects from payments "neighboring" landowners might receive that might transfer with the home.…”

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confidence: 99%

A Spatial Hedonic Analysis of the Effects of Wind Energy Facilities on Surrounding Property Values in the United States

Hoen

2013

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Previous research on the effects of wind energy facilities on surrounding home values has been limited by small samples of relevant home-sale data and the inability to account adequately for confounding home-value factors and spatial dependence in the data. This study helps fill those gaps. We collected data from more than 50,000 home sales among 27 counties in nine states.These homes were within 10 miles of 67 different wind facilities, and 1,198 sales were within 1 mile of a turbine-many more than previous studies have collected. The data span the periods well before announcement of the wind facilities to well after their construction. We use OLS and spatial-process difference-in-difference hedonic models to estimate the home-value impacts of the wind facilities; these models control for value factors existing before the wind facilities' announcements, the spatial dependence of unobserved factors effecting home values, and value changes over time. A set of robustness models adds confidence to our results. Regardless of model specification, we find no statistical evidence that home values near turbines were affected in the post-construction or post-announcement/pre-construction periods. Previous research on potentially analogous disamenities (e.g., high-voltage transmission lines, roads) suggests that the property-value effect of wind turbines is likely to be small, on average, if it is present at all, potentially helping to explain why no evidence of an effect was found in the present research.iv

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“…Sales can be compared to one another, taking into account the effects of time (i.e., inflation/deflation), to determine the value of any specific attribute (Butler, 1982;Clapp and Giaccotto, 1998;Jackson, 2001;Simons and Saginor, 2006;Jauregui and Hite, 2010;Kuminoff et al, 2010;Zabel and Guignet, 2012).…”

Section: Methods To Quantify Whether Wind Turbines Are a Disamenitymentioning

confidence: 99%

Impacts of Wind Turbine Proximity on Property Values in Massachusetts

Atkinson-Palombo¹

2013

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A hedonic analysis of the impact of LUST sites on house prices

Cited by 62 publications

References 14 publications

Effects of Waste-to-Energy Plants on China’s Urbanization: Evidence from a Hedonic Price Analysis in Shenzhen

Effects of Waste-to-Energy Plants on China’s Urbanization: Evidence from a Hedonic Price Analysis in Shenzhen

A Spatial Hedonic Analysis of the Effects of Wind Energy Facilities on Surrounding Property Values in the United States

Impacts of Wind Turbine Proximity on Property Values in Massachusetts

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