An Analysis of Perceptions Concerning the Environmental Quality of Housing in Geneva

Bender, André; Din, A.; Favarger, Philippe; Hoesli, Martin; Laakso, Janne

doi:10.1080/0042098976104

Cited by 41 publications

(39 citation statements)

References 9 publications

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“…Even though a number of studies present the view that the presence of a water feature constitutes the reason for a willingness to pay more for real estate in its vicinity (Bender et al 1997), it is an interesting fact that in our study the factor representing the scenic value of the surrounding landscape was not statistically significant. A study by Svobodova et al (2012) may provide an explanation for this apparent contradiction.…”

Section: Proximity To Water Features and Other Factorsmentioning

confidence: 38%

Effect of water features proximity on farmland prices in a landlocked country: the consequences for planning

Sekáč¹,

Šálek²,

Wranová³

et al. 2017

Soil & Water Res.

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Sekáč P., Šálek M., Wranová A., Kumble P., Sklenička P. (2017): Effect of water features proximity on farmland prices in a landlocked country: the consequences for planning. Soil & Water Res., 12: 18−28.Conversion of farmland to non-farm uses significantly influences the spatial variability of farmland prices. We tested 12 factors of land prices that experienced real estate brokers indicated to be the most important determinants for the conversion of farmland to non-agricultural use. Five factors can be described as landscape, four as geographic, and three as climatic explanatory variables influencing farmland prices. Our results indicate that the two most powerful factors in explaining the sales price per square metre were proximity to a river and proximity to a lake. In both cases, the price of land diminished significantly with the increasing distance from the edge of water bodies, so the prices in their immediate vicinity are 3.5 to 3.7 times higher than the prices of similar lands more than 5 km from the edge of a water body. The other significant factors were population size of the nearest municipality and percentage representation of forest. The fact that the two most powerful factors indicate the distance to a river, brook, lake or pond shows how important are these freshwater features as determinants of farmland prices in a landlocked country such as the Czech Republic, where this study was performed. The consequences of this finding for water resources planning and management are discussed.

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Section: Proximity To Water Features and Other Factorsmentioning

confidence: 38%

Effect of water features proximity on farmland prices in a landlocked country: the consequences for planning

Sekáč¹,

Šálek²,

Wranová³

et al. 2017

Soil & Water Res.

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“…HPM has been applied to very different urban contexts: in cities such as Geneva [7][8][9] or Glasgow [10]; metropolises such as Naples [11,12], Tokyo [13], Chicago, Denver, Philadelphia, Baltimore, Washington DC [14,15], or Seoul [16]; and in informal settlements in Asian cities such as Bangkok and Jakarta [17]. Studies have either focused on one specific local context [18,19], or compared various local environments ranging over wide territorial areas to estimate the effect of the proximity to natural attractions [20][21][22], or big infrastructures such as airports [23].…”

Section: The Use Of Hedonic Approach For the Assessment Or Urban Qualitymentioning

confidence: 99%

“…The environmental characteristics that are more often evaluated and are believed to have a considerable impact on urban quality and on real estate values are related to air pollution [9,14,16,26] or noise impact [7,11,23], further to the already cited example of urban parks and green spaces [5]. Among the positive aspects evaluated, we found a perspective that had a relevant influence on housing values, in particular, views on urbanized, agricultural, or wooded areas [27], lakes [20], on open spaces offering recreational attractions, and slowing down further urbanization [28].…”

Section: The Use Of Hedonic Approach For the Assessment Or Urban Qualitymentioning

confidence: 99%

“…Bin et al [33] used a spatial autoregressive model to investigate the effects of flood risk on property values; in other cases, GIS has been used for deriving the location characteristics of the buildings [7,34]. A particular use of GIS in connection with hedonic pricing methods was made by Roebeling et al [35], who implemented a hedonic pricing simulation model into a GIS raster model for the ex-ante assessment of changes in real estate prices associated with development scenarios for green/blue spaces, and urban residential and road infrastructure developments in the city of Lyon.…”

Section: The Use Of Hedonic Approach For the Assessment Or Urban Qualitymentioning

confidence: 99%

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Assessing the Impact of Urban Improvement on Housing Values: A Hedonic Pricing and Multi-Attribute Analysis Model for the Historic Centre of Venice

et al. 2017

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Abstract:The Hedonic Pricing Method is one of the principal assessment methods for evaluating services and resources not normally exchanged on the market. However, the method is often unable to account for the great variety of qualities in an urban context and faces scarce and heterogeneous market data. This paper presents a model for the valuation of benefits generated by environmental and urban improvement investments adopting a mixed hedonic-multi-attribute procedure for modeling a value function of urban real estate values. The peculiarity of the model is that the independent variables are aggregated indicators, which synthetize more detailed characteristics. Using the expertise of real estate agents, all relevant variables influencing real estate values were weighted and synthetized in a set of cardinal indicators. Next, market prices were used to calibrate a hedonic function that transforms the cardinal indicators into real estate values. The valuation model was integrated into a GIS for mapping the housing value, and its variation induced by urban investment. The proposed model pointed out plausible and robust results, in particular, the possibility to use any available information, such as location, position, technical and economic characteristics of buildings, and organize it in a flexible and transparent way, and to keep evident the role of each characteristic through the hierarchical structure of the model. The model was applied to the real estate market of Venice to test the effects of the MOSE project (Electromechanical Experimental Module) for the protection of Venice from high tides. The results of the application showed a relevant increase in real estate values in the center of Venice, especially related to property in ground floor units, of about 1.4 billion €.

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“…According to her results, water proximity is present among the locational attributes that the consumer considers, without being among the most important ones, such as possession of a garden. Bender et al (1997) applied an approach based on the analytic hierarchy process (AHP, Saaty, 1977) for multidimensional evaluation of perceptions concerning the environmental quality in Geneva, Switzerland, using a questionnaire to house owners about the relative importance of various environmental attributes using a link to a GIS. Distance to green areas including rivers and lake was found the most important attribute with a weight of 18%.…”

Section: Stated Preferences and Multidimensional Valuementioning

confidence: 99%

Presence of water in residential environments - value for money?

Kauko¹,

Roland²,

Ad³

et al. 2003

Proceedings of the 10th European Real Estate Society Conference - Helsinki, Finland

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The role of water in the locational bundle of residential value and choice determinants is multiple. Relevant attributes pertain to water quality, proximity and length of water frontage, view, size of water body, coastal development costs, and costs caused by flooding. They also pertain to different types of water: the sea, lake, river and so on. This is a systematic literature review of the influence of water proximity and use factors on property prices and area attractiveness within a spatial cost-benefit setting. According to the studies that were reviewed the composite effect for water quality, proximity and view generate a price premium up to ca 60% for seaside property, 25% for lakeside property, and up to 40% for a variety of other inland water bodies. In addition, few studies estimate the on-site potential for a coastal area with development restrictions as a net effect of the positive amenity benefits and negative opportunity costs to vary in the range from +21.5 to -14.5%. On balance these figures point to substantial benefits of water location. However, the price impact of flood risk was quantified separately as up to 22%, and may be deducted from these figures, given a localised tendency for such hazard. Thus, it may be concluded that for the attractiveness potential of a site the environmental externalities play a large role. Furthermore, when allocating housing claims spatially using an operational model where all land uses are covered extra costs to overcome conflict and scarcity situations may arise.

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An Analysis of Perceptions Concerning the Environmental Quality of Housing in Geneva

Cited by 41 publications

References 9 publications

Effect of water features proximity on farmland prices in a landlocked country: the consequences for planning

Effect of water features proximity on farmland prices in a landlocked country: the consequences for planning

Assessing the Impact of Urban Improvement on Housing Values: A Hedonic Pricing and Multi-Attribute Analysis Model for the Historic Centre of Venice

Presence of water in residential environments - value for money?

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