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Can Red Pay for Blue? Methods to Estimate the Added Value of Water in Residential Environments

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  • Roland Goetgeluk
  • Tom Kauko
  • Hugo Priemus

Abstract

As a result of climate changes, more land is now needed in the Netherlands for water retention in towns and the countryside. Recently, this perceived need has resulted in new forms of water management and spatial planning strategies. Multi-functional land use is an option such as housing in combination with retention lakes. Some argue that the market potential is high and that water has an added value in residential environments. This added value could be used to compensate for non-profitable investments such as the creation of lakes. The key question is how to value this amenity. It is argued that non-economists often assume that a valuation is just a technique. The authors challenge this by presenting an overview of economic perspectives as well as techniques. A literature review reveals the main valuation perspectives and suggests estimated added values of 10-15% for the seashore, 5-10% for river locations (streams), and 5% for lakes.

Suggested Citation

  • Roland Goetgeluk & Tom Kauko & Hugo Priemus, 2005. "Can Red Pay for Blue? Methods to Estimate the Added Value of Water in Residential Environments," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 48(1), pages 103-120.
    • Handle: RePEc:taf:jenpmg:v:48:y:2005:i:1:p:103-120
    DOI: 10.1080/0964056042000308175
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    Cited by:

    1. Pavel SEKÁČ & Miroslav ŠÁLEK & Alena WRANOVÁ & Peter KUMBLE & Petr SKLENIČKA, 2017. "Effect of water features proximity on farmland prices in a landlocked country: the consequences for planning," Soil and Water Research, Czech Academy of Agricultural Sciences, vol. 12(1), pages 18-28.
    2. Or Levkovich & Jan Rouwendal & Ramona van Marwijk, 2014. "The value of proximity to water in residential areas," ERSA conference papers ersa14p736, European Regional Science Association.
    3. Kauko Tom, 2019. "Institutions at the Interface of Urban Planning and Real Estate," Real Estate Management and Valuation, Sciendo, vol. 27(3), pages 17-30, September.

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