Real Estate and Land Values on the shoreline: a transaction-level analysis (In French)
AbstractLand use changes generate some conflicts, in particular between agricultural and residential uses in the urbanization context and sprawl phenomena. Coastal zones also produce specific amenities that create conflicts over land-use, increase housing and land values and, associated with and/or substituted to urban amenities modify the structure of the territory.\r\nThis article is aimed at studying the influence of coastal and urban amenities, respectively defined in terms of accessibility to the sea side and to employment center, on prices. We differentiate the analysis between two distinct study areas according to the degree of urban development: the Charente coast that is still highly agricultural, and the Basque coastal area more urbanized. According to these local specificities, we will study with the same hedonic pricing method land use prices in the first case and property prices in the second.\r\nThe main results underline the major influence of littoralisation as structural phenomena in housing and land prices dynamics. We identify two different types of gradient of values in relation to distance to sea side as regards to the residential or agricultural use: a “growth premium” explains the agricultural land price gradient whereas both amenity and accessibility premiums justify the residential gradients.
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.
Bibliographic InfoPaper provided by Groupe de Recherche en Economie Théorique et Appliquée in its series Cahiers du GREThA with number 2011-07.
Date of creation: 2011
Date of revision:
Contact details of provider:
Postal: Avenue Léon Duguit, 33608 Pessac Cedex
Phone: +33 (0)184.108.40.206.75
Fax: +33 (0)220.127.116.11.47
Web page: http://gretha.u-bordeaux4.fr/
More information through EDIRC
coastal areas; land and housing markets; hedonic pricing; gradients;
Find related papers by JEL classification:
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
- Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
- C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
This paper has been announced in the following NEP Reports:
- NEP-AGR-2011-03-12 (Agricultural Economics)
- NEP-ALL-2011-03-12 (All new papers)
- NEP-URE-2011-03-12 (Urban & Real Estate Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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.
- Catherine Baumont, 2009. "Spatial effects of urban public policies on housing values," Papers in Regional Science, Wiley Blackwell, vol. 88(2), pages 301-326, 06.
- Smith, V Kerry & Palmquist, Raymond B, 1994. "Temporal Substitution and the Recreational Value of Coastal Amenities," The Review of Economics and Statistics, MIT Press, vol. 76(1), pages 119-26, February.
- Feng Xu & Ron C. Mittelhammer & Paul W. Barkley, 1993. "Measuring the Contributions of Site Characteristics to the Value of Agricultural Land," Land Economics, University of Wisconsin Press, vol. 69(4), pages 356-369.
- Michael T. Bond & Vicky L. Seiler & Michael J. Seiler, 2002. "Residential Real Estate Prices: A Room with a View," Journal of Real Estate Research, American Real Estate Society, vol. 23(1/2), pages 129-138.
- Walsh, Randy, 2007. "Endogenous open space amenities in a locational equilibrium," Journal of Urban Economics, Elsevier, vol. 61(2), pages 319-344, March.
- Vuong, Quang H, 1989. "Likelihood Ratio Tests for Model Selection and Non-nested Hypotheses," Econometrica, Econometric Society, vol. 57(2), pages 307-33, March.
- John Faux & Gregory M. Perry, 1999. "Estimating Irrigation Water Value Using Hedonic Price Analysis: A Case Study in Malheur County, Oregon," Land Economics, University of Wisconsin Press, vol. 75(3), pages 440-452.
- Irwin, Elena G. & Bockstael, Nancy E., 2004. "Land use externalities, open space preservation, and urban sprawl," Regional Science and Urban Economics, Elsevier, vol. 34(6), pages 705-725, November.
- Jeffrey Pompe, 2008. "The Effect of a Gated Community on Property and Beach Amenity Valuation," Land Economics, University of Wisconsin Press, vol. 84(3), pages 423-433.
- Capozza, Dennis & Li, Yuming, 1994. "The Intensity and Timing of Investment: The Case of Land," American Economic Review, American Economic Association, vol. 84(4), pages 889-904, September.
- Jacqueline M. Hamilton, 2005.
"Coastal landscape and the hedonic price of accommodation,"
FNU-91, Research unit Sustainability and Global Change, Hamburg University, revised Sep 2005.
- Hamilton, Jacqueline M., 2007. "Coastal landscape and the hedonic price of accommodation," Ecological Economics, Elsevier, vol. 62(3-4), pages 594-602, May.
- CAVAILHÈS, Jean & PEETERS, Dominique & SÉKERIS, Evangelos & THISSE, Jacques-François, .
"La ville périurbaine,"
CORE Discussion Papers RP
-1601, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- LE GALLO, Julie, 2000. "Econométrie spatiale 1 -Autocorrélation spatiale," LATEC - Document de travail - Economie (1991-2003) 2000-05, LATEC, Laboratoire d'Analyse et des Techniques EConomiques, CNRS UMR 5118, Université de Bourgogne.
- Elena G. Irwin, 2002. "The Effects of Open Space on Residential Property Values," Land Economics, University of Wisconsin Press, vol. 78(4), pages 465-480.
- Turner, Matthew A., 2005.
"Landscape preferences and patterns of residential development,"
Journal of Urban Economics,
Elsevier, vol. 57(1), pages 19-54, January.
- Matthew Turner, 2003. "Landscape Preferences and Patterns of Residential Development," Working Papers mturner-03-01, University of Toronto, Department of Economics.
- Okmyung Bin & Thomas W. Crawford & Jamie B. Kruse & Craig E. Landry, 2008. "Viewscapes and Flood Hazard: Coastal Housing Market Response to Amenities and Risk," Land Economics, University of Wisconsin Press, vol. 84(3), pages 434-448.
- Jean CavailhËs & Pierre Wavresky, 2003. "Urban influences on periurban farmland prices," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 30(3), pages 333-357, September.
- Andrew J. Plantinga & Douglas J. Miller, 2001. "Agricultural Land Values and the Value of Rights to Future Land Development," Land Economics, University of Wisconsin Press, vol. 77(1), pages 56-67.
- Snyder, Stephanie A. & Kilgore, Michael A. & Hudson, Rachel & Donnay, Jacob, 2008. "Influence of purchaser perceptions and intentions on price for forest land parcels: A hedonic pricing approach," Journal of Forest Economics, Elsevier, vol. 14(1), pages 47-72, January.
- Plantinga, Andrew J. & Lubowski, Ruben N. & Stavins, Robert N., 2002.
"The effects of potential land development on agricultural land prices,"
Journal of Urban Economics,
Elsevier, vol. 52(3), pages 561-581, November.
- Stavins, Robert & Plantinga, Andrew & Lubowski, Ruben, 2002. "The Effects of Potential Land Development on Agricultural Land Prices," Discussion Papers dp-02-11-, Resources For the Future.
- Plantinga, Andrew & Lubowski, Ruben & Stavins, Robert, 2002. "The Effects of Potential Land Development on Agricultural Land Prices," Working Paper Series rwp02-012, Harvard University, John F. Kennedy School of Government.
- George R. Parsons & Yangru Wu, 1991. "The Opportunity Cost of Coastal Land-Use Controls: An Empirical Analysis," Land Economics, University of Wisconsin Press, vol. 67(3), pages 308-316.
- Capozza, Dennis R. & Helsley, Robert W., 1989. "The fundamentals of land prices and urban growth," Journal of Urban Economics, Elsevier, vol. 26(3), pages 295-306, November.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vincent Frigant).
If references are entirely missing, you can add them using this form.