Assessing the socio-economic impacts of green/blue space, urban residential and road infrastructure projects in the Confluence (Lyon): a hedonic pricing simulation approach

Roebeling, Peter; Saraiva, Miguel Marinho; Palla, Anna; Gnecco, Ilaria; Teotónio, Carla; Fidélis, Teresa; Martins, Filomena; Alves, Helena; Rocha, João

doi:10.1080/09640568.2016.1162138

Cited by 39 publications

(21 citation statements)

References 55 publications

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“…Therefore, HPM is more suitable for estimating the value inherent in a preference [28,29]. In fact, many studies have used HPM to estimate the value of the ecosystem services, including parks, inherent in housing prices [7,25,26,[32][33][34][35][36] HPM is the study of the relationship between the price of a commodity or house and its characteristics [28,29,37]. For example, people buy real estate, such as an apartment or house, because they expect to gain utility and enjoyment from the house.…”

Section: Hedonic Price Methods (Hpm)mentioning

confidence: 99%

“…Escobedo et al [33] used two categories of variables, house characteristics and urban forest attributes, to estimate the effect of forest structures on property value. Roebeling et al [7] and Payton et al [34] also used three qualities of urban parks to value the benefits provided by city parks. Ko et al [25] and Kim et al [35] estimated the value of green space with three variable categories, which include attributes such as property area, age, size of apartment complex, school district, and accessibility to public transport and parks.…”

Section: Variablesmentioning

confidence: 99%

“…Green/blue spaces, such as urban parks, offer many ecosystem services [4][5][6][7], including climate regulation, water regulation, water supply, food, raw materials, aesthetic information, recreation, science and education [4,8,9]. For example, regulating services provided by urban parks contributes to resident well-being in cities.…”

Section: Introductionmentioning

confidence: 99%

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Park Accessibility Impacts Housing Prices in Seoul

et al. 2017

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Housing prices are determined by a variety of factors, including the features of the building and the neighborhood environment, and a potential buyer decides to buy a house after reviewing these factors and concluding that it is worth the price. We used Hedonic Price Methods to find the relationship between monetary value of house and access conditions to urban parks. Two meaningful results were discovered in this study: first, as the distance from the park increases, the value of the park inherent in the housing price decreases; second, the greater walking accessibility, to the park, the higher the park value inherent in housing prices. Despite presenting shorter distances to walk and more entrances, poorly accessible zones were deemed as such due to the necessity of crossing an arterial road. This indicates that the results can define accessibility not as the Euclidian distance but as the shortest walking distance while considering crossroads and park entrances. The results of this study have significant implications for urban park economic impact analyses in Seoul. Also, the increase in housing prices closer to parks supports the idea that access is dependent on the residents' socioeconomic status. Lastly, the results of this study can improve walking accessibility to the park.

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Section: Hedonic Price Methods (Hpm)mentioning

confidence: 99%

Section: Variablesmentioning

confidence: 99%

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Park Accessibility Impacts Housing Prices in Seoul

et al. 2017

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“…An analysis of the socieconomic impacts of GI using a hedonic pricing simulation approach for Confluence (Lyon, France) revealed four major trends associated with GI adoption, namely, "1) cities become more compact 2) population densities increase 3) real estate values rise and 4) demographic distribution patterns change." Impacts were dependent on the quality and size of the GI, the social classes attracted to GI and the location relative to urban areas (Roebeling et al, 2017). Evaluating the potential econonomic co-benefits of GI installations in Baltimore (Maryland, USA) found that houses located adjacent to stormwater retention basins were 13% to 14% less than the average home implying a cost as opposed to a benefit (Irwin et al, 2017).…”

Section: Planning and Ecosystem Service Evaluationmentioning

confidence: 99%

Sustainability

DiGiovanni

2018

Water Environment Research

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“…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%

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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Assessing the socio-economic impacts of green/blue space, urban residential and road infrastructure projects in the Confluence (Lyon): a hedonic pricing simulation approach

Cited by 39 publications

References 55 publications

Park Accessibility Impacts Housing Prices in Seoul

Park Accessibility Impacts Housing Prices in Seoul

Sustainability

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

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