Open space, residential property values, and spatial context

Anderson, Soren T.; West, Sarah E.

doi:10.1016/j.regsciurbeco.2006.03.007

Cited by 397 publications

(290 citation statements)

References 34 publications

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“…This segmentation by districts is the first one to be used, each of the equations being The economic literature has focused, by means of capitalization, on the willingness to pay of some neighbourhood amenities such as parks, schools or undergrounds. In this framework, we can emphasize the contributions of Cheshire and Sheppard (1995), Bell and Man (1996), Bilbao-Terol (2000), Bogart and Cromwell (2000), Haider and Miller (2000), Gibbons and Machin (2001), Downes and Zabel (2002) Tse (2002), Anderson and West (2006), Cheshire and Sheppard (2004). However, the main aim of this paper is not to explain variability in housing prices due to the location but to estimate the price and income elasticities of demand for a series of basic housing characteristics (quantity, quality and location), so we decide to replace the amenities variables for the locational dummies.…”

Section: Resultsmentioning

confidence: 99%

Price and Income Elasticities of Demand for Housing Characteristics in the City of Barcelona

Garcıá¹,

Raya²

2011

Regional Studies

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Garcia J. and Raya J. M. Price and income elasticities of demand for housing characteristics in the city of Barcelona, Regional Studies. This paper estimates price and income elasticities of demand for housing characteristics using the information of properties appraised in the city of Barcelona (1998-2001). It employs a two-stage approach, estimating hedonic price equations for different districts in order to estimate subsequently the corresponding demand equations. The results allow an analysis to be made of the complementarity or substitutability relationships among the characteristics analysed, and also to catalogue these characteristics as goods. By knowing the price, cross and income elasticities of housing characteristics, policy recommendations can be made about the type of housing units that are the most desirable to be subsidized. [image omitted] Garcia J. et Raya J. M. Les elasticites par rapport au prix et au revenu de la demande de caracteristiques particulieres du logement a Barcelone, Regional Studies. A partir des donnees sur l'immobilier a Barcelone (de 1998 a 2001), cet article cherche a estimer les elasticites par rapport au prix et au revenu de la demande de caracteristiques particulieres du logement. On emploie une facon a deux temps qui estime des equations de prix hedonistes pour divers districts afin d'estimer par la suite les equations de demande correspondantes. Les resultats permettent d'analyser jusqu'a quel point les caracteristiques analysees sont complementaires et substituables, et de classer aussi ces caracteristiques comme biens. En connaissant le prix, les elasticites croisees et les elasticites par rapport au revenu des caracteristiques du logement, on peut faire des recommandations de politique quant aux unites de logement les plus susceptibles d'etre subventionnees. Modeles hedonistes Elasticites Demande de logement Garcia J. und Raya J. M. Preis- und Einkommenselastizitat der Nachfrage nach Wohnungsmerkmalen in der Stadt Barcelona, Regional Studies. In diesem Beitrag schatzen wir die Preis- und Einkommenselastizitat der Nachfrage nach Wohnungsmerkmalen mit Hilfe von Informationen uber die in der Stadt Barcelona im Zeitraum von 1998 bis 2001 bewerteten Merkmale. Zum Einsatz kommt ein zweistufiger Ansatz, bei dem zunachst die hedonischen Preisgleichungen fur verschiedene Bezirke geschatzt werden, um anschliessend die entsprechenden Nachfragegleichungen zu schatzen. Die Ergebnisse ermoglichen eine Analyse der Komplementaritats- und Ersetzbarkeitsbeziehungen zwischen den untersuchten Merkmalen; ebenso lassen sich diese Merkmale als Guter katalogisieren. Bei einer Kenntnis der Preis-, Kreuz- und Einkommenselastizitat von Wohnungsmerkmalen lassen sich Empfehlungen fur die Politik formulieren, was die Art der Wohnungseinheiten anbelangt, deren Subvention am wunschenswertesten ist. Hedonische Modelle Elastizitaten Wohnungsnachfrage Garcia J. y Raya J. M. Elasticidades de precios e ingresos en la demanda de caracteristicas de la vivienda en la ciudad de Barcelona, Regional Studies. E...

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Section: Resultsmentioning

confidence: 99%

Price and Income Elasticities of Demand for Housing Characteristics in the City of Barcelona

Garcıá¹,

Raya²

2011

Regional Studies

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“…Walsh et al (2011) [9] identified the significance of water body proximity on the value of residential properties in Orange County, Florida. Positive amenities from proximity to water are also reported by Anderson and West (2006) [10]. Tapsuwan et al (2009) [11] argue that the value of houses increases by reducing the distance to the wetland.…”

Section: Introductionmentioning

confidence: 93%

Canals vs. Streams: To What Extent Do Water Quality and Proximity Affect Real Estate Values? A Hedonic Approach Analysis

Bonetti

Corsi

Orsi

et al. 2016

Water

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Abstract:The presence of and proximity to water influences human settlement decisions, because water has been able to characterize the environment and affect human health since prehistoric times. Many scholars have studied the effects of environmental amenities on the real estate market; however, only a few of them have explored the effects of water. This study stresses the role of water with a focus on the dichotomy between artificial and natural waterways (canals vs. streams), which involves managerial and qualitative differences. A hedonic approach, based on a large web scraped and geo-referenced dataset of 10,530 observations, is used to analyze the effect of water proximity and quality on residential housing prices in the province of Milan (Italy). Our main results show a significant but conflicting impact of water proximity on real estate value: reducing the canal distance, we observe an increase in the residential housing sale price, in urban more than peri-urban environments; in contrast, reducing the stream distance, our results show decreases in property value. Moreover, a significant moderating effect of water quality on distance from streams is identifiable.

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“…In certain cases, time-invariant variables are omitted in the empirical model because these may not be observed due to the limited data available. However, time-invariant variables measured at the same scale of the fixed effects variables are controlled [55][56][57]. Thus, the fixed effects regression model can specify how changes in time-varying control variables account for the change in the proportion and number of walking trips over time because time-invariant unobserved variables that are fixed over time have been "differenced away" in the analysis [54].…”

Section: Model Specificationmentioning

confidence: 99%

The Walking Renaissance: A Longitudinal Analysis of Walking Travel in the Greater Los Angeles Area, USA

et al. 2015

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Promoting walking travel is considered important for reducing automobile use and improving public health. Recent U.S. transportation policy has incentivized investments in alternative, more sustainable transportation modes such as walking, bicycling and transit in auto-oriented cities such as Los Angeles. Although many past studies have analyzed changes in walking travel across the U.S., there is little clarity on the drivers of change. We address this gap by conducting a longitudinal analysis of walking travel in the greater Los Angeles area from 2001 to 2009. We use travel diary and household data from regional and national surveys to analyze changes in walking trip shares and rates across our study area. Results show that walking has significantly increased across most of Los Angeles, and that increases in walking trips generally correspond with increases in population, employment, and transit service densities. Estimates from fixed-effects regression analysis generally suggest a positive association between population density and walking, and that higher increases in transit stop density are correlated with increased walking trips to and from transit stops. These findings illustrate how regional planning efforts to pursue a coordinated land use-transit planning strategy can help promote walking in auto-oriented or vehicle adopting cities.

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Open space, residential property values, and spatial context

Cited by 397 publications

References 34 publications

Price and Income Elasticities of Demand for Housing Characteristics in the City of Barcelona

Price and Income Elasticities of Demand for Housing Characteristics in the City of Barcelona

Canals vs. Streams: To What Extent Do Water Quality and Proximity Affect Real Estate Values? A Hedonic Approach Analysis

The Walking Renaissance: A Longitudinal Analysis of Walking Travel in the Greater Los Angeles Area, USA

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