The Relative Impacts of Trails and Greenbelts on Home Price
AbstractThis study examines the impacts of trails and greenbelts and other amenities on home value. Using the hedonic framework the study provides analyses of a database consisting of roughly 10,000 sales of homes occurring from April 2001 to March 2002 in and around San Antonio, Bexar County, Texas. Among other things, our study shows that trails, greenbelts, and trails with greenbelts (or greenways) are associated with roughly 2, 4, and 5%, price premiums, respectively. The following amenities: proximity to golf course, neighborhood playground, tennis court, neighborhood pool, view, and cul-de-sac, all add significantly to home value. Copyright Springer Science+Business Media, LLC 2009
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Bibliographic InfoArticle provided by Springer in its journal The Journal of Real Estate Finance and Economics.
Volume (Year): 38 (2009)
Issue (Month): 4 (May)
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Web page: http://www.springerlink.com/link.asp?id=102945
Amenity; Trail; Greenbelt; Home value; Hedonic estimation;
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