Environmental Valuation

Mundy, Bill

doi:10.4324/9781351158961

Cited by 1 publication

(1 citation statement)

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“…Currently, the hedonic pricing model is a method being employed to examine a wide range of externalities. Among different externalities, this method is mostly used in the valuation of locational and environmental disamenities and amenities throughout the world, such as environmental and issues caused by dangerous industrial sites (Grislain-Letrémy & Katossky, 2014), environmental contamination (Kiel, 2017), and nuclear power plants (Bauer et al, 2017). This method is also employed to examine the adverse effects of undesirable land use on property value, such as Sanitary landfill (Akinjare et al, 2011), neighborhood crime (Pope & Pope, 2012), and waste dump sites (Bello & Bello, 2009).…”

Section: Usamentioning

confidence: 99%

Net Benefits of Urban Slums Redevelopment Policies on the Value of Adjacent Residential Property

Hussain

Zou

2021

International Journal of Strategic Property Management

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Over time, the government of Pakistan introduced several strategies to deal with the issue of slums in its capital city, Islamabad. Contrary to the traditional strategies that primarily focus on the tenure security of occupants, the strategy of slum redevelopment is more composite. It involves the up-gradation of slums in their existing sites as well as the demolition of slums from the posh areas. The present study is first to empirically investigates the outcomes of the slums redevelopment policies on the value of adjacent residential properties. Using a rental valuation based hedonic price model, the study examined the spillover effects of an urban slum up-gradation and eviction projects on the nearby housing values. The results show that the redevelopment of slums reduces the adverse effects on residential value. It is essential for the urban planners to cautiously include the slum redevelopment projects spillover effects on the adjacent property value in different geographical locations, to maximize the net positive effects of improvements on the neighborhood.

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