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The value of rehabilitating urban rivers: the Yarqon River (Israel)

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  • Xavier Garcia

Abstract

Rehabilitating the good ecological status of rivers in urban catchments can represent a wise decision since it can enhance the provision of valuable ecosystem services, such as aesthetic appreciation. The higher prices of houses located closer to rivers are a reflection of the willingness of households to pay for access to such service. The main objective of this study was to apply a hedonic pricing analysis to estimate the benefits generated by this ecosystem service due to the rehabilitation of the Yarqon River in Israel. During the last two decades, several projects and actions, such as the discharge of tertiary-quality effluents, have increased the quantity and quality of the river's water and improved its ecological state. Using a sample of 883 houses in the Tel-Aviv Metropolitan Area and selecting a mixed log-level functional form ( R -super-2 = 0.808), it was found that an increase of 1% in the distance to the Yarqon caused a 0.12% decrease in the price of a house. Finally, benefits are estimated and compared with the rehabilitation costs, showing that, even if no other ecosystem services are considered, the rehabilitation can prove to be beneficial to society.

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  • Xavier Garcia, 2014. "The value of rehabilitating urban rivers: the Yarqon River (Israel)," Journal of Environmental Economics and Policy, Taylor & Francis Journals, vol. 3(3), pages 323-339, November.
    • Handle: RePEc:taf:teepxx:v:3:y:2014:i:3:p:323-339
    DOI: 10.1080/21606544.2014.923338
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    1. Sunak, Yasin & Madlener, Reinhard, 2012. "The Impact of Wind Farms on Property Values: A Geographically Weighted Hedonic Pricing Model," FCN Working Papers 3/2012, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN), revised Mar 2013.
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    Cited by:

    1. Min Song & Lynn Huntsinger & Manman Han, 2018. "How does the Ecological Well-Being of Urban and Rural Residents Change with Rural-Urban Land Conversion? The Case of Hubei, China," Sustainability, MDPI, vol. 10(2), pages 1-22, February.
    2. Xin Yang & Xiaohe Zhou & Shuwen Cao & Anlu Zhang, 2021. "Preferences in Farmland Eco-Compensation Methods: A Case Study of Wuhan, China," Land, MDPI, vol. 10(11), pages 1-17, October.

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