Real Estate Valuation and Cross-Boundary Air Pollution Externalities: Evidence from Chinese Cities

Zheng, Siqi; Cao, Jing; Kahn, Matthew E.; Sun, Cong

doi:10.1007/s11146-013-9405-4

Cited by 130 publications

(83 citation statements)

References 25 publications

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“…Differential investments in these items between the rich and poor will exacerbate pollution exposure differences and hence increase health inequality. As shown in the cross-city and within-city compensation differentials studies in Chinese cities discussed above (Zheng et al 2014;Zheng and Kahn 2008), real estate prices are higher and housing demand is higher in less polluted geographic areas. Thus, the poor live in dirtier areas within a city.…”

Section: Pollution Exposure Inequality Resulted From Self-protection mentioning

confidence: 95%

Self-protection investment exacerbates air pollution exposure inequality in urban China

Sun

Kahn²,

Zheng

2017

Ecological Economics

Self Cite

202

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Urban China's high levels of ambient air pollution both lowers quality of life and raises mortality risk. China's wealthy have the purchasing power to purchase private products such as portable room air filters that allows them to offset some of the pollution exposure risk. Using a unique data set of Internet purchases, we document that households invest more in masks and air filter products when ambient pollution levels exceed key alert thresholds. Richer people are more likely to invest in air filters, which are much more expensive than masks. Our findings have implications for trends in inequality in human capital accumulation and in quality of life inequality in urban China.

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Section: Pollution Exposure Inequality Resulted From Self-protection mentioning

confidence: 95%

Self-protection investment exacerbates air pollution exposure inequality in urban China

Sun

Kahn²,

Zheng

2017

Ecological Economics

Self Cite

202

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“…In many urban areas, industrial production has not been the main cause of over-emission and air pollution. Instead, some rural villages adjacent to large cities become the main pollution producers [53]. The interactive relationships between energy consumption and economic growth in different regions and countries are still unclear [54,55].…”

Section: Sustainable Saving and Consumption Of Resourcesmentioning

confidence: 99%

Integrated Land Governance for Eco-Urbanization

2016

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"Eco-urbanization" emphasizes the importance of the ecological and environmental aspects of urbanization, which is to approach a balanced and healthy ecosystem through paying attention to the ecological intercorrelation of many factors. This involves balancing the stocks and utilization of multi-resources and balancing the efficiency and equality of multi-resources allocation to improve the quality of life for both urban and rural areas. In this dynamic process, resource allocations are carried out at different administrative levels, which have posed challenges of developing an integrated approach for eco-urbanization. Due to interaction and intersection of ecological activities among adjacent regions, a complex ecosystem tends to be in a fluid catchment area with dynamic flows of activities that transcend rigid administrative boundaries. The management of ecosystem sensitively impinges on the effectiveness of having an integrated approach of land governance in a comprehensive planning of urban-rural development. This will require scientific findings to support a policy-oriented management approach, which can take account of land use/cover changes (LUCC), ecosystem services and functions, interactive impacts of socio-economic transformation and climatic variations for optimum land use allocation to achieve the objective of ecosystem conservation and socio-economic development for both urban and rural area in a sustainable approach. Three aspects of development are identified as the importance of achieving advanced land governance for eco-urbanization. This paper aims to discuss these in turn: first, to find the adaptive measures in response to the uncertainty of climatic variation; second, to understand and research the scale and level of sustainable consumption for balancing resource saving and consumption; and third, to study ecological intercorrelation among multiple factors. We, therefore, argue that the far insight of "economic growth" via an ecologically-centered approach based on scientific solutions of all three aspects and intergovernmental consultations is important to support land governance for eco-urbanization and to strike a balance between environmental conservation and economic development.

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“…In the era of energy conservation which results from environmental requirements as well as from increasingly high energy prices, the preferences of residential property buyers are changing (Xie, 2018;Zheng et al, 2014). In addition, the implementation of EU directives to national regulations imposes, on member states, an obligation to monitor energy efficiency in every sector of their economy, including the construction industry.…”

Section: Introductionmentioning

confidence: 99%

An Attempt to Determine the Impact of Energy Intensity on the Market Value of Residential Units on the Example of Selected Buildings in Szczecin

Foryś

Putek–Szeląg

Ziembicka

2020

Real Estate Management and Valuation

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Environmental requirements, constantly increasing energy prices as well as energy consumption by residential units and buildings have become an important factor in the decision-making processes in the real estate market. The preferences of residential unit buyers who recognize the problem of energy intensity and translate it into the transaction price have also been changing. However, amendments to the Act on real estate management and new European standards have imposed an obligation to include the certificates of energy performance of buildings and premises on real estate valuers in the valuation process. In this paper, energy intensity understood as the heating requirements of multi-family residential buildings is the basis for assessing the impact of the proposed variants on the market value of residential units. The paper analyzes the energy intensity of various types of buildings (e.g. in low and high buildings) and its impact on the market value of residential units in a selected housing estate in Szczecin, when the property valuer has access to energy performance certificates of neither the unit under valuation nor the units selected for comparison. The purpose of this study is to identify the relationship between the energy intensity and the market value of residential units. The proposed three models of real estate market value: non-classical, multiple regression and average price adjustment taking into account energy intensity, obtain results consistent with the actual transaction price at a satisfactory level. The assessment was made using standard deviation, a coefficient of variation and the average error of forecasts.

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Real Estate Valuation and Cross-Boundary Air Pollution Externalities: Evidence from Chinese Cities

Cited by 130 publications

References 25 publications

Self-protection investment exacerbates air pollution exposure inequality in urban China

Self-protection investment exacerbates air pollution exposure inequality in urban China

Integrated Land Governance for Eco-Urbanization

An Attempt to Determine the Impact of Energy Intensity on the Market Value of Residential Units on the Example of Selected Buildings in Szczecin

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