The Relative Impacts of Trails and Greenbelts on Home Price

Asabere, Paul K.; Huffman, Forrest E.

doi:10.1007/s11146-007-9089-8

Cited by 67 publications

(50 citation statements)

References 29 publications

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“…Most of the studies concentrate on the effects of large areas -urban parks, forests and greenbelts (Anthon, Thorsen, & Helles, 2004;Asabere & Huffman, 2007). Other studies pay specific attention to the inclusion of protected areas into the model in contrast to ordinary urban vegetation.…”

Section: Literature Reviewmentioning

confidence: 99%

Revealing preferences of Prague's homebuyers toward greenery amenities: The empirical evidence of distance–size effect

Melichar

Kaprová

2013

Landscape and Urban Planning

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Section: Literature Reviewmentioning

confidence: 99%

Revealing preferences of Prague's homebuyers toward greenery amenities: The empirical evidence of distance–size effect

Melichar

Kaprová

2013

Landscape and Urban Planning

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“…There is also significant evidence that access to various amenities is positively associated with housing values in the community [14,16,20]. Jun and Kim [12], on the other hand, found that people were less willing to pay rent for apartments that were closer to the greenbelt in the SMA.…”

Section: Introductionmentioning

confidence: 99%

Investigating How the Rents of Small Urban Houses are Determined: Using Spatial Hedonic Modeling for Urban Residential Housing in Seoul

Won

Lee

2017

Sustainability

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Abstract:The Seoul metropolitan government has launched the Urban Residential Housing (URH) program to address the shortage of small urban houses, and enhance residential stability for the increasing number of one-and two-person households in Seoul, Korea. While studies have examined the price premium of locational and neighborhood environmental features for houses in general, little is known about how and to what extent these features influence the rents of small urban houses. We estimate and compare conventional and spatial hedonic price models (HPMs) to examine the effects of those features on the monthly rents of URH units, while using geographic information system techniques to measure the variables. We found that the spatial HPM outperforms the conventional HPM in terms of goodness of fit measures. All of the locational features, and most of the variables with respect to the neighborhood environment, had a significant impact on rents. Rent tended to be lower in areas adjacent to a university, suggesting that it is a good place for one and two-person households to enhance residential affordability. However, access to parks does not appear to be important for residents. We conclude that the people who live in small urban houses are inclined to place a premium on rents in different ways.

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“…Analyses aimed to estimate the effects of open spaces on real estate values have found that in general proximity to these amenities has a positive impact (Conway, et al, 2010;Lutzenhiser and Netusil, 2001). But, the influence of open space amenities on residential prices tends to decline with increasing distance (Asaber and Huffman, 2009;Jim and Chen, 2006). In addition, there is evidence that the quality of open spaces and green areas around certain property matters.…”

Section: Open Spaces and Property Valuesmentioning

confidence: 99%

The Complex Interactions between Cities and Nature

2017

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Purpose: Proximity to nature is highly valued by urbanites. They demonstrate higher willingness to pay for housing at locations near open and green spaces. But, nature in cities can generate negative externalities as well. The aim of this paper is to present the complex relationship between nature and cities and the possible negative influence of urban nature on property prices. Methodology/Approach:The data presented in this paper include open spaces, the presence of wild animals and residential property values in Haifa, Israel. These data were analyzed to uncover spatial regularities and basic statistical relationships. Findings:The results reveal the expected presence of dominant positive externalities related to proximity to open and green areas. However, in certain areas and under certain circumstances, the nuisances generated by the presence of wild animals in close proximity to housing are correlated with lower property prices. Research Limitation/implication:We demonstrate in this paper that that there is a complex relationship between nature and cities, albeit focusing our analysis on large mammals in cities only. Disentangling positive and negative externalities of urban nature is a challenging task. The paper presents an example of the potential difficulties that need to be dealt with in such analysis.Originality/Value of paper: Through the case study, we show that there are good reasons to believe that there are both positive and negative externalities of nature in cities. To our best knowledge, attempts to disentangle both types of effects using property values do not exist in the literature. Category: Research paper

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The Relative Impacts of Trails and Greenbelts on Home Price

Abstract: Amenity, Trail, Greenbelt, Home value, Hedonic estimation,

Cited by 67 publications

References 29 publications

Revealing preferences of Prague's homebuyers toward greenery amenities: The empirical evidence of distance–size effect

Revealing preferences of Prague's homebuyers toward greenery amenities: The empirical evidence of distance–size effect

Investigating How the Rents of Small Urban Houses are Determined: Using Spatial Hedonic Modeling for Urban Residential Housing in Seoul

The Complex Interactions between Cities and Nature

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