A Meta - Analysis of the Effect of Environmental Contamination and Positive Amenities on Residential Real Estate Values

Simons, Robert A.; Saginor, Jesse

doi:10.1080/10835547.2006.12091168

Cited by 81 publications

(27 citation statements)

References 3 publications

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“…Property value losses were also $0.23 higher for every additional dollar in home value, and losses were reduced or removed after remediation of the contaminated property. By contrast, property located near positive attributes (e.g., beach, park) had a 25% premium, but the distance was not significant (Simons & Saginor, 2006).…”

Section: Literature Synthesismentioning

confidence: 76%

“…One way to measure the public benefit of brownfield redevelopment is to calculate the value of redeveloped projects and the associated increase in property taxes (De Sousa, 2005; U.S. Conference of Mayors, 2006). Another measure of interest is the impact of brownfield redevelopment on neighboring property values (Simons, 2005;Simons & Saginor, 2006). This measure is considered important because it helps gauge the spillover or ripple effect on the surrounding community that is often associated with brownfield reclamation and redevelopment.…”

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confidence: 99%

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Assessing the Effect of Publicly Assisted Brownfield Redevelopment on Surrounding Property Values

Sousa

Westphal

2009

Economic Development Quarterly

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This study measures and compares the impact of publicly assisted brownfield redevelopment on nearby residential property values in Milwaukee and Minneapolis. It also examines the influence of land use, neighborhood characteristics, and other redevelopment factors on this impact. The research approach incorporates a hedonic method to quantify nearby property value effects at more than 100 brownfield projects, and stakeholder interviews are used to assess perceived impacts to real estate conditions. The results reveal that the spillover effect in terms of raising surrounding property values is significant in both quantity and geographic scope, as redevelopment led to a net increase of 11.4% in nearby housing prices in Milwaukee and 2.7% in Minneapolis. It also reveals that project size, value, and the amount of public funding have minor impacts on this effect; factors such as proximity to major roads, distance from rail, and higher incomes have greater positive impacts.

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Section: Literature Synthesismentioning

confidence: 76%

mentioning

confidence: 99%

Assessing the Effect of Publicly Assisted Brownfield Redevelopment on Surrounding Property Values

Sousa

Westphal

2009

Economic Development Quarterly

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“…Presence of a nearby landfill Jauregui and Hite (2005); Chen and Li (2017). Contamination affects the value and rights of real estate Simons and Saginor (2006); Chen and Li (2017).…”

Section: Negative Externalitymentioning

confidence: 99%

The Profile of Portuguese People when Choosing an Apartment

Santos

Tavares

2021

Real Estate Management and Valuation

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It is important to study and to know the determining factors of the housing purchase business, as this is often the greatest business deal in a family’s life. The purpose of this study is to identify the profile of the Portuguese regarding the determining factors when searching for apartments to acquire. The methodology used is based on a questionnaire that analyzes the determining factors in the choice of apartments to acquire and the sociodemographic profile of Portuguese people looking for an apartment. The sample consisted of 646 individuals who were looking for an apartment in different regions of Continental Portugal. The determining factors in the choice of apartments have quite adequate levels of validity and reliability, and four dimensions are obtained: negative externalities, positive externalities, a business located on the ground floor and rational interest in proximity to public services. Cluster analysis results show the formation of five clusters, classifying individuals into a generic cluster, urban business cluster, urban services cluster, urban citizens cluster and elitist cluster. This study is expected to contribute to increasing scientific knowledge on the topic and to help real estate developers better match their clients’ preferences.

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“…Akujuru notes that Smith's definition is helpful in describing the situation in the Niger Delta. In Simons and Saginor (2006), environmental sources that influence residential property values were identified as leaking underground storage, Superfund sites, landfills, water and air pollution, power lines, pipeline ruptures (oil spill), nuclear power plants, animal feedlots, and several other urban nuisance uses. In the Niger Delta, pipeline rupture frequently occurs, leading to oil spills, and whenever a major oil spill occurs, the prime focus is to determine how much of the oil or other contaminant can be recovered, how much beach area can be cleaned, and how many birds, sea mammals, and fish hatcheries can be protected (Freeman & Koop, 1989).…”

Section: Contaminated Land and Its Effect On Property Valuesmentioning

confidence: 99%

Enhancing Sustainability of the Niger Delta Environment through the Choice of Techniques for Valuing Contaminated Land

Deeyah

Akujuru

2020

Journal of Sustainable Real Estate

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This paper provides an overview of the professionally accepted factors that should guide the choice of techniques for valuing contaminated land affected by oil spills to ensure environmental sustainability in the Niger Delta. We review ways to improve current valuation approaches and the various factors estate surveyors and Valuers should consider in choosing a technique(s) to adopt. We administer a questionnaire to 60 Estate Surveyors and Valuers in the Niger Delta using purposive sampling to examine the current preferred method. Forty-six questionnaires, representing 76.7% of the total, were validly answered and returned. By applying the current method to the Bodo Oil Spill as a case study, we find that the resultant compensation is hardly adequate, that it discourages recipients from continuing in their occupation prior to the contamination, aggravates the poor community's relationship between oil exploration companies and their host communities, and reinforces the perception that oil activities cause most problems in the Niger Delta. We conclude that the continued use of predetermined compensation rates endangers the environment and results in unsustainable practices that will sooner or later destroy the entire Niger Delta ecosystem. We recommend the adoption of methods suitable to the subject contaminated property and the incorporation of the impact duration as key factors in the choice of techniques for a sustainable contaminated land valuation.

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A Meta - Analysis of the Effect of Environmental Contamination and Positive Amenities on Residential Real Estate Values

Cited by 81 publications

References 3 publications

Assessing the Effect of Publicly Assisted Brownfield Redevelopment on Surrounding Property Values

Assessing the Effect of Publicly Assisted Brownfield Redevelopment on Surrounding Property Values

The Profile of Portuguese People when Choosing an Apartment

Enhancing Sustainability of the Niger Delta Environment through the Choice of Techniques for Valuing Contaminated Land

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