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Cultural Landscape Characteristics and Heritage Values A Spatially Explicit Hedonic Approach

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  • Pia Nilsson

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    Abstract

    Cultural Landscape Characteristics and Heritage Values A Spatially Explicit Hedonic Approach This paper uses the hedonic approach to analyze the relation between cultural landscape characteristics and property values. The empirical model uses geographic information systems to create a model that adds spatially explicit variables of landscape structure to the classic hedonic variables. Nearly 5000 house transactions in south Sweden were studied to estimate the effects of cultural landscape attributes on transaction prices. The key empirical results show that cultural heritage sites generate a premium of 3-4% for properties located in the vicinity. The results also show that the percentage of land within communities devoted to local and national preservation areas leads to a considerable increase in house prices (up to 12%) comparing to communities that have less land devoted to preservation areas. JEL Classification: Q2; Q3; R14; R21

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    Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa10p397.

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    Date of creation: Sep 2011
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    Handle: RePEc:wiw:wiwrsa:ersa10p397

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    14. Elena G. Irwin & Nancy E. Bockstael, 2001. "The Problem of Identifying Land Use Spillovers: Measuring the Effects of Open Space on Residential Property Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(3), pages 698-704.
    15. Tyrvainen, Liisa & Miettinen, Antti, 2000. "Property Prices and Urban Forest Amenities," Journal of Environmental Economics and Management, Elsevier, vol. 39(2), pages 205-223, March.
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