Valuation of housing and neighbourhood attributes for city centre location: A case study in Santiago

Torres, Ignacia; Greene, Margarita; Ortúzar, Juan de Dios

doi:10.1016/j.habitatint.2012.10.007

Cited by 31 publications

(13 citation statements)

References 19 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…In the West, it is found that people have a higher willingness to pay for accessibility to jobs, cleanliness and security of the neighbourhood, for avoiding to live near landfills, and for higher air quality, than for gyms and cultural services (Hite, 2009;Torres et al, 2013). It indicates that consumers also consider the living environment when they purchase a house, probably for the health related reasons.…”

Section: Literature Reviewmentioning

confidence: 99%

The willingness to pay for green apartments: The case of Nanjing, China

Geertman

Hooimeijer

2014

Urban Studies

View full text Add to dashboard Cite

Faced with the challenge of developing sustainable cities, the Chinese government sets green construction as part of the national strategy to reduce energy consumption. However, the consumer market has shown limited response to such policies. To upscale green building, it is crucial to understand the market demands for green apartments. This article employs a conjoint model to estimate the willingness to pay for green dwellings versus accessibility to metros and jobs and neighbourhood quality by different socio-economic groups in Nanjing, China. Results show that the socio-economic status of homebuyers determines their willingness to pay for green attributes. Only the rich are prepared to pay for green apartments to improve their living comfort. To all, the notion of health is appealing as consumers are willing to pay for an unpolluted environment and for non-toxic construction materials used in buildings in good locations.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

The willingness to pay for green apartments: The case of Nanjing, China

Geertman

Hooimeijer

2014

Urban Studies

View full text Add to dashboard Cite

show abstract

“…Previous studies have identified that the contingent valuation survey method (Altaf, 1994;Kang, Haab, & Interis, 2013;Torres, Green, & Ortúzar, 2013), travel costs method (Chae, Wattage, & Pascoe, 2012;Gürlük & Rehber, 2008) and hedonic price method (Chan, So, Tang, & Wong, 2012;Cotteleer & Kooten, 2012) are the most used for determining the implicit price of an attribute for substitution with a less desired option.…”

Section: The Hedonic Price Methodsmentioning

confidence: 99%

Development of price models for architectural and environmental quality for residential developments in Hong Kong

Fung

Lee

2014

Habitat International

View full text Add to dashboard Cite

a b s t r a c tFactors affecting a residential unit's price are always of interest to homebuyers and building developers, especially in a city like Hong Kong which is known for expensive housing. Literature review indicates that the governing factors can be categorized into architectural and environmental attributes. Among different methods commonly used for pricing, the hedonic price approach is viewed as the most suitable. However, the successful use of this method requires that homebuyers know and choose the attributes. Whilst choosing architectural attributes are not a problem for homebuyers, the same does not apply to environmental attributes. Previous studies by the authors have proposed some simple indicators for quantifying the environmental attributes. Based upon the developed performance indicators and the transaction records of two representative housing estates (Royal Ascot ¼ RA and City One Shatin ¼ COS), details of the properties, including transaction prices, architectural particulars and environmental characteristics were numerically transformed for the hedonic price analysis. The analysis results revealed that the willingness to pay (percentage of house price in parenthesis) for architectural and environmental attributes was HK$302.3/ft 2 (5.8%) and HK$886.8/ft 2 (28.2%), respectively, for RA and HK$1672.7/ ft 2 (31.9%) and HK$111.5/ft 2 (3.5%) for COS. It was found that elasticity of substitution (ES) of environmental attributes contributed 3.4e13.3% of the property price, compared to 0.6e5.5% for architectural attributes.

show abstract

“…Attributes o f the living environment for which people are willing to pay extra are accessibility to jobs, cleanliness and security, distance from landfills, and higher air quality. These attributes are valued more than sports facilities and cultural services (Hite, 2009;Torres et al, 2013). In mainland China it has been found that people are willing to pay more for neighbourhood safety and improved accessibility (Wang and Li, 2004;2006).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Planning Support in Estimating Green Housing Opportunities for Different Socioeconomic Groups in Nanjing, China

Geertman

Hooimeijer

2015

Environ Plann B Plann Des

View full text Add to dashboard Cite

The sustainable city concept is often criticized for being unaffordable for the majority. To cater for various socioeconomic groups, it is essential that planners consider both affordability and sustainability. We provide planners with a methodology for estimating green housing potential for various socioeconomic groups in Nanjing, China, with reference to their green housing preferences and budgets. Results indicate that under the current situation the lower-middle class can barely afford a green apartment. If the metro network is extended, the green housing opportunities for the lower-middle class will increase in the central districts if they trade housing size for location. If heavy industries are relocated, green housing opportunities for the upper-middle class will increase in the central districts, but the lower-middle and middle classes will be pushed to the suburbs. Results also show that development of greenfields will provide more options for each socioeconomic group than redevelopment of brownfields.

show abstract

Valuation of housing and neighbourhood attributes for city centre location: A case study in Santiago

Cited by 31 publications

References 19 publications

The willingness to pay for green apartments: The case of Nanjing, China

The willingness to pay for green apartments: The case of Nanjing, China

Development of price models for architectural and environmental quality for residential developments in Hong Kong

Planning Support in Estimating Green Housing Opportunities for Different Socioeconomic Groups in Nanjing, China

Contact Info

Product

Resources

About