Dynamics of the Greenbelt Amenity Effect on the Land Market-The Case of Seoul's Greenbelt
AbstractSeoul's greenbelt has been maintained for twenty years with little change, although Seoul has grown rapidly. Therefore, Seoul's greenbelt is interesting to examine for the dynamic impacts of a greenbelt regulation in a growing city. These impacts are examined in this article which also exploits a unique time series of Seoul property values (1970-1989). The results show that the amenity value of Seoul's greenbelt is quite high. However, the marginal value of greenbelt accessibility has been decreasing since 1980, in notable contrast to earlier years. A simple welfare analysis demonstrates that as the city grows, the greenbelt eventually loses its efficiency as a policy tool, even though earlier it may have achieved economic efficiency. Copyright American Real Estate and Urban Economics Association.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by American Real Estate and Urban Economics Association in its journal Real Estate Economics.
Volume (Year): 26 (1998)
Issue (Month): 1 ()
Contact details of provider:
Postal: Indiana University, Kelley School of Business, 1309 East Tenth Street, Suite 738, Bloomington, Indiana 47405
Phone: (812) 855-7794
Fax: (812) 855-8679
Web page: http://www.blackwellpublishing.com/journal.asp?ref=1080-8620
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Bergstrom, John C., 1998. "Exploring And Expanding The Landscape Values Terrain," Faculty Series 16653, University of Georgia, Department of Agricultural and Applied Economics.
- Bergstrom, John C., 2001. "The Role And Value Of Natural Capital In Regional Landscapes," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 33(02), August.
- Bergstrom, John C., 2001. "Postproductivism And Rural Land Values," Faculty Series 16689, University of Georgia, Department of Agricultural and Applied Economics.
- Wouter Vermeulen & Jan Rouwendal, 2008. "Urban Expansion or Clustered Deconcentration?," Tinbergen Institute Discussion Papers 08-043/3, Tinbergen Institute.
- Steve Gibbons & Susana Mourato & Guilherme Resende, 2011.
"The Amenity Value of English Nature: A Hedonic Price Approach,"
SERC Discussion Papers
0074, Spatial Economics Research Centre, LSE.
- Stephen Gibbons & Susana Mourato & Guilherme Resende, 2014. "The Amenity Value of English Nature: A Hedonic Price Approach," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 57(2), pages 175-196, February.
- Steve Gibbons & Susana Mourato & Guilherme Resende, 2011. "The amenity value of English nature: a hedonic price approach," LSE Research Online Documents on Economics 33594, London School of Economics and Political Science, LSE Library.
- Zheng, Siqi & Kahn, Matthew E., 2008. "Land and residential property markets in a booming economy: New evidence from Beijing," Journal of Urban Economics, Elsevier, vol. 63(2), pages 743-757, March.
- Anas, Alex & Pines, David, 2008. "Anti-sprawl policies in a system of congested cities," Regional Science and Urban Economics, Elsevier, vol. 38(5), pages 408-423, September.
- Anas, Alex & Rhee, Hyok-Joo, 2006.
"Curbing excess sprawl with congestion tolls and urban boundaries,"
Regional Science and Urban Economics,
Elsevier, vol. 36(4), pages 510-541, July.
- Alex Anas & Hyok-Joo Rhee, 2004. "Curbing Excess Sprawl with Congestion Tolls and Urban Boundaries," Urban/Regional 0408004, EconWPA.
- Anderson, Soren T. & West, Sarah E., 2006. "Open space, residential property values, and spatial context," Regional Science and Urban Economics, Elsevier, vol. 36(6), pages 773-789, November.
- Johanna CHOUMERT & Gunther MAIER & Shanaka HERATH, 2014.
"The value of the greenbelt in Vienna: a spatial hedonic analysis,"
- Johanna Choumert & Shanaka HERATH & Gunther MAIER, 2014. "The value of the greenbelt in Vienna: a spatial hedonic analysis," Working Papers halshs-00939270, HAL.
- Matthew Chadourne & Seong-Hoon Cho & Roland Roberts, 2013. "Identifying priority target areas for the Knoxville–Knox County hillside and ridgetop protection plan: using the value of visual amenity during the real estate boom of 2002–2007 and the recession ," The Annals of Regional Science, Springer, vol. 50(3), pages 911-934, June.
- Thomas J. Nechyba & Randall P. Walsh, 2004. "Urban Sprawl," Journal of Economic Perspectives, American Economic Association, vol. 18(4), pages 177-200, Fall.
- Myung-Jin Jun, 2012. "The effects of Seoul’s greenbelt on the spatial distribution of population and employment, and on the real estate market," The Annals of Regional Science, Springer, vol. 49(3), pages 619-642, December.
- Edwin S. Mills, 2002. "Government Urban Growth Controls," International Real Estate Review, Asian Real Estate Society, vol. 5(1), pages 1-11.
- Paul Cheshire, 2009. "Urban land markets and policy failures," LSE Research Online Documents on Economics 30837, London School of Economics and Political Science, LSE Library.
- Waltert, Fabian & Schläpfer, Felix, 2010. "Landscape amenities and local development: A review of migration, regional economic and hedonic pricing studies," Ecological Economics, Elsevier, vol. 70(2), pages 141-152, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.