Estimating the Impact of Landfill Proximity on the Value of Real Estate Goods
A part of the net benefit from goods consumption is determined by their environmental characteristics. The size of the benefit depends on the properties of the goods, but also on how these are perceived by consumers. Therefore estimating environmental benefits allows, on the one hand, environment’s monetization, and on the other hand to formulate opinions about awareness regarding environmental issues and their impact on individual wellbeing. Departing from these facts, the paper aims to measure the environmental benefits of a real estate goods consumer, realizing an estimation of incompliant landfills (ICL) proximity’s impact on the value of these goods. For estimation, it was used the method of hedonic pricing and were processed regarding Bucharest periphery. Providing quantitative information regarding the importance of ecological criteria in the procurement of real estate goods, verification of the relevance of available estimations for Romania and the identification of the model that explains the impact of ICL on the value of real estate goods are the main contribution brought to knowledge development. In fact, the results obtained are aligned with the results of similar assessments made in Europe, indicating that 31,2% of the variation of real estate goods’ value is determined by the proximity of landfil. Studies regarding the relation between the size of variation and the development level could contribute to increase the relevance of these results for other regions of Romania.
Volume (Year): 14 (2012)
Issue (Month): 31 (February)
|Contact details of provider:|| Postal: 6 ROMANA PLACE, 70167 - BUCHAREST|
Web page: http://amfiteatrueconomic.ase.ro/
More information through EDIRC
References listed on IDEAS
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.:
- Bartik, Timothy J, 1987. "The Estimation of Demand Parameters in Hedonic Price Models," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 81-88, February.
- Jong Seok Lim & Paul Missios, 2007.
"Does size really matter? Landfill scale impacts on property values,"
Applied Economics Letters,
Taylor & Francis Journals, vol. 14(10), pages 719-723.
- Lim, Jong Seok & Missios, Paul, 2005. "Does Size Really Matter? Landfill Scale Impacts on Property Values," MPRA Paper 70809, University Library of Munich, Germany.
- Kiel Katherine A. & McClain Katherine T., 1995. "House Prices during Siting Decision Stages: The Case of an Incinerator from Rumor through Operation," Journal of Environmental Economics and Management, Elsevier, vol. 28(2), pages 241-255, March.
- Hite, Diane & Chern, Wen & Hitzhusen, Fred & Randall, Alan, 2001. "Property-Value Impacts of an Environmental Disamenity: The Case of Landfills," The Journal of Real Estate Finance and Economics, Springer, vol. 22(2-3), pages 185-202, March-May.
- Tzipi Eshet & Mira Baron & Mordechai Shechter, 2007. "Exploring Benefit Transfer: Disamenities of Waste Transfer Stations," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 37(3), pages 521-547, July.
- Jeffrey P. Cohen & Cletus C. Coughlin, 2008. "Spatial Hedonic Models Of Airport Noise, Proximity, And Housing Prices," Journal of Regional Science, Wiley Blackwell, vol. 48(5), pages 859-878.
- Jeffrey P. Cohen & Cletus C. Coughlin, 2006. "Spatial hedonic models of airport noise, proximity, and housing prices," Working Papers 2006-026, Federal Reserve Bank of St. Louis.
- Mark Thayer & Heidi Albers & Morteza Rahmatian, 1992. "The Benefits of Reducing Exposure to Waste Disposal Sites: A Hedonic Housing Value Approach," Journal of Real Estate Research, American Real Estate Society, vol. 7(3), pages 265-282.
- Doru Alexandru Pleşea & Smaranda Vişan, 2010. "Good Practices Regarding Solid Waste Management Recycling," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 12(27), pages 228-241, February.
- Jon Strand & Mette Vågnes, 2001. "The relationship between property values and railroad proximity: a study based on hedonic prices and real estate brokers' appraisals," Transportation, Springer, vol. 28(2), pages 137-156, May. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:aes:amfeco:v:14:y:2012:i:31:p:38-49. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Valentin Dumitru)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.