A hedonic pricing method to estimate the value of waterfronts in the Gulf of Mexico

Dahal, Ram P.; Grala, Robert K.; Gordon, Jason S.; Munn, Ian A.; Petrolia, Daniel R.; Cummings, J. Reid

doi:10.1016/j.ufug.2019.04.004

Cited by 42 publications

(32 citation statements)

References 43 publications

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“…They usually focus on coastal erosion, beaches, and their impacts on recreation and tourism [58][59][60][61][62]. For instance, coastal residents in Mexico placed their importance on proximity to waterfronts as one of the attributes when deciding a settlement and higher prices were paid for houses located near most waterfront types [63]. The results in the ML model (Table 5) estimated the WTP of coastal forest per 100 m to be JPY 695, with positive attitudes of nearly 60%; however, enlarging coastal forests may cause an overlap with residences in some locations.…”

Section: Discussionmentioning

confidence: 99%

Preference Heterogeneity of Coastal Gray, Green, and Hybrid Infrastructure against Sea-Level Rise: A Choice Experiment Application in Japan

Omori

2021

Sustainability

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Coastal zones are bearing the brunt of an increase in the likelihood of extreme events, coupled with sea-level rise (SLR). Conventionally, gray infrastructures, such as seawalls, have been constructed to reduce risks in limited coastal zone spaces. Nature-based approaches, known as green infrastructure, have been used in coastal defense, and their ecosystem-based disaster risk reduction functions (Eco-DRR) have received growing attention. However, both gray and green infrastructure alone have limitations in responding to an ongoing increase in the intensity and frequency of natural hazards. To overcome these issues, hybrid infrastructure, which combine gray and green components, is needed, and they have been receiving growing attention. Meanwhile, a large-scale coastal development requires stakeholder agreement; thus, it is imperative to understand people’s demands and build a consensus between municipalities and coastal citizens in coastal development for long-term resilience. The author administered the online survey across Japan, applying it to the choice experiment, and obtained 840 valid responses. Therefore, this paper clarified the heterogeneities in coastal people’s preferences for coastal ecosystem services provided by gray, green, and hybrid structures in intertidal zones in Japan, recognizing seawalls as gray and coastal pine forests as green infrastructure. Consequently, while coastal citizens acknowledged gray’s coastal defense function, the diverse perceptions toward seawalls for SLR preparation were notable as its scenarios became severe. Another remarkable finding is that nearly 60% of respondents preferred Eco-DRR functions provided by coastal forests with JPY 695 in willingness-to-pay for expanding 100 m in width, even though there are uncertainties in their performances.

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Section: Discussionmentioning

confidence: 99%

Preference Heterogeneity of Coastal Gray, Green, and Hybrid Infrastructure against Sea-Level Rise: A Choice Experiment Application in Japan

Omori

2021

Sustainability

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“…Finally, exploring the wider socio-economic, and sometimes unintended, consequences of improving and managing freshwater blue spaces is of high importance. For example, access to water tends to increase house prices (Dahal et al, 2019) and consequently, increasing access to freshwater blue space may induce gentrification and the displacement of residents (Vert et al, 2019). The use of public participation geographic information systems (PPGIS) may be particularly useful in remediating these unintended consequences and developing inclusive freshwater blue-health strategies that can cater to the needs of a number of different water-users (Raymond et al, 2016).…”

Section: Promoting Freshwater Blue-health Opportunitiesmentioning

confidence: 99%

Freshwater blue space and population health: An emerging research agenda

McDougall

Quilliam

Hanley

et al. 2020

Science of The Total Environment

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Growing evidence suggests that access and exposure to water bodies or blue spaces can provide a variety of health and well-being benefits. Attempts to quantify these "blue-health" benefits have largely focused on coastal environments, with freshwater blue spaces receiving far less attention despite over 50 % of the global population living within three km of a body of freshwater and populations living in landlocked areas having limited coastal access. This critical review identifies opportunities to improve our understanding of the relationship between freshwater blue space and health and well-being, and outlines key recommendations to broaden the portfolio of emerging research needs associated with the field of blue-health. Recognising fundamental distinctions in relationships between health outcomes and access and exposure to freshwater versus coastal blue space is critical. Furthermore, research to determine the mechanisms that link exposure to freshwater blue space with tangible health outcomes is needed, and in particular an understanding of how such mechanisms vary across the wide spectrum of freshwater environments present in landscapes. Current methods for quantifying access and exposure to freshwater blue space often fail to account for the unique spatial properties of freshwater and come with a variety of limitations. Based on the findings of this review, a suite of research needs are proposed, which can be categorised into three broad themes: (i) establishing a freshwater blue-health methodological framework; (ii) advancing the empirical freshwater blue-health evidence base; and (iii) promoting freshwater blue-health opportunities. When taken together, these research themes offer opportunities to advance current understanding and better integrate freshwater blue space into the wider nature-health research agenda.

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“…As well, Laszkiewicz et al (2019) analyzed the apartment market in Lodz (Poland) and pointed out that proximity to parks and forests exert a positive impact on apartment prices, whereas Fernandez and Bucaram (2019) highlighted for Auckland, New Zealand that beaches and volcanic parks may add price premiums or price discounts, depending on the price distribution. In the same vein, Dahal et al (2019) confirmed for real estate sales for the coastal Alabama, USA, that vicinity to bays, streams, and rivers is positively valued by inhabitants. Nevertheless, Liang et al (2018) argued that lakes should show a certain size or quality in order to reveal a positive impact on housing prices.…”

Section: Previous Literature Concerning Landscape Features and Housinmentioning

confidence: 70%

“…1. Hence we consider the sale price of the apartment, alongside several structural attributes similar to previous papers such as number of rooms (Keskin, 2008;Czembrowski and Kronenberg, 2016;Ligus andPeternek, 2016 Selim, 2009;Baranzini and Schaerer, 2011), house surface (Wilhelmsson, 2002;Jim and Chen, 2009;Selim, 2009;Chen and Jim, 2010;Hui et al, 2012;Ibeas et al, 2012;Efthymiou and Antoniou, 2013;Ooi et al, 2014;Zhang and Leonard, 2014;Kim et al, 2015;Czembrowski and Kronenberg, 2016;Ligus and Peternek, 2016;Tian et al, 2017;Wu et al, 2017;Brecard et al, 2018;McCord et al, 2018;Yuan et al, 2018;Dahal et al, 2019;Laszkiewicz et al, 2019;Yang et al, 2019), comfort, floor level (Keskin, 2008;Jim and Chen, 2009;Chen and Jim, 2010;Baranzini and Schaerer, 2011;Hui et al, 2012;Ibeas et al, 2012;Efthymiou and Antoniou, 2013;Ooi et al, 2014;Ligus and Peternek, 2016;Wu et al, 2017;Li et al, 2019), number of bathrooms (Conroy and Milosch, 2011;Ibeas et al, 2012;Larsen and Blair, 2014;Zhang and Leonard, 2014;…”

Section: Sample and Variablesmentioning

confidence: 99%

See 1 more Smart Citation

Towards a Hedonic Pricing Method for the Bucharest Private Housing Market

Zilişteanu¹,

Muntean²,

Gherghina

et al. 2019

SAEB

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This paper aims at exploring the drivers of dwellings’sale prices in Bucharest, Romania, over the period 2014-2018. Several housing structural attributes are covered, such as the number of rooms, useful and constructed surface, type of comfort, floor, the number of bathrooms, balconies and parking, the seniority from construction, as well as from renovation, structure type, height regime, and the duration until completion of the real estate transaction. By estimating a standard hedonic price model via OLS regression for a sample of 765 transactions, we notice that all the selected variables, except the floor level and seniority from construction, positively influence the property prices. However, in case of useful and constructed surface, nonlinear relationships with property prices were acknowledged. Robustness checks in form of quantile regressions reinforce the empirical findings.

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A hedonic pricing method to estimate the value of waterfronts in the Gulf of Mexico

Cited by 42 publications

References 43 publications

Preference Heterogeneity of Coastal Gray, Green, and Hybrid Infrastructure against Sea-Level Rise: A Choice Experiment Application in Japan

Preference Heterogeneity of Coastal Gray, Green, and Hybrid Infrastructure against Sea-Level Rise: A Choice Experiment Application in Japan

Freshwater blue space and population health: An emerging research agenda

Towards a Hedonic Pricing Method for the Bucharest Private Housing Market

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