Measuring the willingness to pay for houses in a sustainable neighborhood
AbstractThis paper determine the responsiveness of the willingness to pay to changes in structural, locational, and neighborhood attributes of housing that incorporate sustainability objectives. In this study, 299 households from Kuala Lumpur and Selangor in Malaysia were interviewed. Results show that housing developers should build the neighborhood that promotes sustainability as house buyers generally are willing to pay more to live in a sustainable neighborhood. In order to build a progressive low carbon economy, the government should create the vision and give policy directions and guidelines that describe all aspects necessary of a sustainable neighborhood.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 30446.
Date of creation: 2011
Date of revision:
Sustainable Neighborhood; Sustainability; Willingness to Pay; Malaysia;
Find related papers by JEL classification:
- Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
- C42 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Survey Methods
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-05-07 (All new papers)
- NEP-ENV-2011-05-07 (Environmental Economics)
- NEP-URE-2011-05-07 (Urban & Real Estate Economics)
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