Mixed monetary and non-monetary valuation of attractive urban green space: A case study using Amsterdam house prices

Daams, Michiel; Sijtsma, Frans; Veneri, Paolo

doi:10.1016/j.ecolecon.2019.106430

Cited by 49 publications

(22 citation statements)

References 58 publications

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“…For example, Lindemann- Matthies et al (2013) showed that Swiss citizens preferred forests high in biodiversity, while Chinese showed no particular preference. Daams et al (2019) found that attractive green spaces can increase property values of neighbouring houses by 2-9%. Czembrowski et al (2019) found that real estate buyers in Stockholm were willing to pay more for properties that benefitted from aesthetics and nature features in green spaces of nearby houses.…”

Section: Urban Cultural Ecosystem Servicesmentioning

confidence: 99%

Cultural Urban Ecosystem Services

et al. 2021

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There is an increasing recognition of the contribution of cultural ecosystem services to human wellbeing, however, research is scarce on the topic in the Global South. Evidence on urban cultural ecosystem services tends to focus on recreation and cities from the Global North. Cultural services such as social cohesion and cultural heritage are often overlooked from research. Global South realities are different from the Global North, given the proportion of indigenous communities, urbanisation dynamics, and environmental inequities. This chapter will address these topics by synthesising research carried out in the Global South and contrasting results with general discourses derived from studies in the Global North. The chapter closes by considering the way forward towards the research of ecosystem services in the Global South.

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Section: Urban Cultural Ecosystem Servicesmentioning

confidence: 99%

Cultural Urban Ecosystem Services

et al. 2021

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“…Czembrowski et al [43] categorized Stockholm's urban green areas and estimated that multifunctional green spaces generate the greatest economic impact, impacting the property price by 10%. Researchers estimated that properties at a distance of 0.25 km from attractive green spaces sold at 7.1% higher prices than houses in a reference group, but these were located farther than 1.25 km away from attractive green space [44]. Research conducted in US, Portland, Oregon, correlated between tree canopy size and property price, estimating that the increase in tree canopy generated a direct effect on property sale prices of approximately 12,500 USD [8].…”

Section: The Dependent Variablementioning

confidence: 99%

“…The size of, and distance from, GI amenities have significant effects on individual appraisal, utility, and weighting in cost-benefit analysis. A number of studies found that people were willing to pay a premium to increase the coverage of green areas [8,44,47,60,61] and to decrease the distance between household and green urban spaces [8,[11][12][13]43,44,60]. Additionally, a significant relationship was Atmosphere 2020, 11, 152 8 of 20 found between mental health and distance to GI; increasing distance to green urban areas was found to significantly decrease life satisfaction [60,62].…”

Section: Nature Within Reachmentioning

confidence: 99%

Willingness to Pay for Green Infrastructure in Residential Development—A Consumer Perspective

2020

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This paper investigates the literature and theoretical underpinning of the concept of "willingness to pay" (WTP) for green infrastructure (GI) with consequences for residential development. The benefits of GI in urban settlements include improved air quality, attenuation of the urban heat island, thermal insulation and lower energy bills for green roofs and walls, the creation of social amenity space, a habitat for biodiversity, and stormwater water attenuation. Collectively, these benefits are termed eco-system services and enhance sustainability. The role of GI, the "lungs of the planet", is heavily correlated to atmospheric conditions; high levels of GI improve air quality, which is acknowledged widely with many cities increasing GI to make them more resilient to future predicted challenges with respect to heat and poor air quality. In addition, there is evidence that the biophilia effect enhances human well-being. There are some studies claiming that purchasers pay a premium for property with good GI. However, there is little research about the process in consumers' minds leading to such a premium-if, how, when (under what circumstances), and then to what extent are consumers willing to pay for GI. This process, if better understood, may enable sellers or policy makers to influence the amounts of GI in developments, thus making it possible to enhance the value of GI to buyers. There is some research pointing to factors to be considered when modeling such processes. For developers, knowing the optimum amount of GI would enable them to design and construct developments with maximum purchaser appeal. To do this, stakeholders need to predict the level of WTP amongst potential purchasers for which they need to understand the decision processes behind WTP. In this way, sustainability in residential property development could be optimized. The paper analyzes the literature and theories concerning WTP, focusing on dwellings and GI. Our findings are that some quantitative evidence exists that purchasers pay more for residential property with high levels of GI in some cities, but they do so without any understanding of the possible decision processes leading to those premiums (if, how, when, and then to what extent). The paper proposes a comprehensive conceptual model that may explain buyers' WTP for a dwelling based on a presumed cost-benefit analysis performed by buyers, which has been extended here to include GI and psychological factors. Thus, the paper has a consumer perspective. The model may be used to select variables and test them in empirical studies, and by integrating with other factors in the model, it can attain a more comprehensive understanding of WTP for GI in residential development.

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“…As for urban green facilities, Votsis [17] revealed that though the decreasing distance to all three green types could increase the housing prices, the impact depends on the type and location of urban green infrastructure. Jun and Kim [18] found that the disamenity of the urban greenbelt has a negative impact on the adjacent apartment rents in Seoul, which is opposed to findings in Western cities [19]. As for education facilities, the positive relationship between school facilities and housing prices has been found in most relevant research [8,20].…”

Section: Introductionmentioning

confidence: 97%

Spatial-Temporal Variation in the Impacts of Urban Infrastructure on Housing Prices in Wuhan, China

et al. 2020

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This study aims to investigate the spatial and temporal dynamics of housing prices associated with the urban infrastructure in Wuhan, China. The relationship between urban infrastructure and housing prices during rapid urbanization has drawn popular concerns. This article takes 619 residential communities during the period 2010 to 2018 in Wuhan’s main urban area as research units, and uses the geographically and temporally weighted regression (GTWR) model to study the spatial-temporal differentiation in the effects of urban infrastructure on housing prices. The results show that: 1) From 2010 to 2018, housing prices in Wuhan’s main urban area were generally on the rise, but the increment speed has shown an obvious periodic characteristic, the spatial distribution of housing prices has shown an obvious core and periphery distribution and the peak value area shifted from Hankou to Wuchang. 2) The influential factors of housing prices have significant spatiotemporal non-stationarity, while the impact, direction and intensity of the influential factors varies in time and space. Spatially, the influence factors show different differentiation rules for spatial distribution, and the influencing direction and strength of the urban infrastructure on housing prices are closely related to the spatial location, distribution density and the type of urban infrastructure. Temporally, the influencing strength of various urban facilities varies. This research will benefit both urban planners for optimizing urban facilities and policy-makers for formulating more specific housing policies, which ultimately contributes to urban sustainability.

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Mixed monetary and non-monetary valuation of attractive urban green space: A case study using Amsterdam house prices

Cited by 49 publications

References 58 publications

Cultural Urban Ecosystem Services

Cultural Urban Ecosystem Services

Willingness to Pay for Green Infrastructure in Residential Development—A Consumer Perspective

Spatial-Temporal Variation in the Impacts of Urban Infrastructure on Housing Prices in Wuhan, China

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