The Impact Of Mixed Land Use On Residential Property Values
This discussion paper led to a publication in the Journal of Regional Science (2012). Vol. 52(5), pages 733-761. Contemporary European urban planning policies aim to mix land uses in compact neighbourhoods. It is presumed that mixing land uses yields socio-economic benefits and therefore has a positive effect on housing values. In this paper, we investigate the impact of mixed land use on housing values using semiparametric estimation techniques. We demonstrate that a diverse neighbourhood is positively valued by households. There are various land use types which positively affect house prices, e.g. business services and leisure. Land uses that are incompatible with residential land use are, among others, manufacturing and wholesale. It appears that households are willing to pay up to 6 percent more for a house in a mixed neighbourhood than for an otherwise comparable house in a monofunctional area. We also show that there is substantial heterogeneity in willingness to pay for mixed land use. For example, apartment occupiers are willing to pay almost 25 percent more for diversity than households living in detached housing.
(This abstract was borrowed from another version of this item.)
If 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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 52 (2012)
Issue (Month): 5 (December)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-4146|
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=0022-4146|
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.:
- Sheppard, Stephen, 1999.
"Hedonic analysis of housing markets,"
Handbook of Regional and Urban Economics,
in: P. C. Cheshire & E. S. Mills (ed.), Handbook of Regional and Urban Economics, edition 1, volume 3, chapter 41, pages 1595-1635
- Palmquist, Raymond B., 1992. "Valuing localized externalities," Journal of Urban Economics, Elsevier, vol. 31(1), pages 59-68, January.
- Song, Yan & Knaap, Gerrit-Jan, 2003. "New urbanism and housing values: a disaggregate assessment," Journal of Urban Economics, Elsevier, vol. 54(2), pages 218-238, September.
- Edward L. Glaeser, Jed Kolko, and Albert Saiz, 2001.
Journal of Economic Geography,
Oxford University Press, vol. 1(1), pages 27-50, January.
- Edward L. Glaeser & Jed Kolko & Albert Saiz, 2000. "Consumer City," Harvard Institute of Economic Research Working Papers 1901, Harvard - Institute of Economic Research.
- Ed Glaeser & Jed Kolko & Albert Saiz, 2000. "Consumer City," NBER Working Papers 7790, National Bureau of Economic Research, Inc.
- Ekeland, Ivar & Heckman, James J. & Nesheim, Lars, 2003.
"Identification and Estimation of Hedonic Models,"
IZA Discussion Papers
853, Institute for the Study of Labor (IZA).
- Ivar Ekeland & James J. Heckman & Lars Nesheim, 2003. "Identification and Estimation of Hedonic Models," CESifo Working Paper Series 1031, CESifo Group Munich.
- Ivar Ekeland & James J. Heckman & Lars P. Nesheim, 2003. "Identification and Estimation of Hedonic Models," NBER Working Papers 9910, National Bureau of Economic Research, Inc.
- Ivar Ekeland & James Heckman & Lars Nesheim, 2002. "Identification and estimation of hedonic models," CeMMAP working papers CWP07/02, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- repec:inr:wpaper:24285 is not listed on IDEAS
- Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
- Lafferty, Ronald N & Frech, H E, III, 1978. "Community Environment and the Market Value of Single-Family Homes: The Effect of the Dispersion of Land Uses," Journal of Law and Economics, University of Chicago Press, vol. 21(2), pages 381-94, October.
- Richard Arnott & Alex Anas & Kenneth Small, 1997.
"Urban Spatial Structure,"
Boston College Working Papers in Economics
388., Boston College Department of Economics.
- Anas, Alex & Arnott, Richard & Small, Kenneth A., 1997. "Urban Spatial Structure," University of California Transportation Center, Working Papers qt835049q3, University of California Transportation Center.
- Song, Yan & Knaap, Gerrit-Jan, 2004. "Measuring the effects of mixed land uses on housing values," Regional Science and Urban Economics, Elsevier, vol. 34(6), pages 663-680, November.
- repec:dau:papers:123456789/6486 is not listed on IDEAS
- Patrick Bajari & Matthew E. Kahn, 2003.
"Estimating Housing Demand with an Application to Explaining Racial Segregation in Cities,"
NBER Working Papers
9891, National Bureau of Economic Research, Inc.
- Patrick Bajari & Matthew E. Kahn, 2005. "Estimating Housing Demand With an Application to Explaining Racial Segregation in Cities," Journal of Business & Economic Statistics, American Statistical Association, vol. 23, pages 20-33, January.
- Patrick Bajari & Matthew E. Kahn, 2002. "Estimating Housing Demand with an Application to Explaining Racial Segregation in Cities," Working Papers 02011, Stanford University, Department of Economics.
- Quan Gan & Robert J. Hill, 2008. "A New Perspective on the Relationship Between House Prices and Income," Discussion Papers 2008-13, School of Economics, The University of New South Wales.
- Cervero, Robert, 1989. "Jobs-Housing Balancing and Regional Mobility," University of California Transportation Center, Working Papers qt7mx3k73h, University of California Transportation Center.
- Cheshire, Paul & Sheppard, Stephen, 2002.
"The welfare economics of land use planning,"
Journal of Urban Economics,
Elsevier, vol. 52(2), pages 242-269, September.
- Edward L. Glaeser & Joseph Gyourko & Raven E. Saks, 2005.
"Why Have Housing Prices Gone Up?,"
Harvard Institute of Economic Research Working Papers
2061, Harvard - Institute of Economic Research.
- Steve Gibbons & Stephen Machin, 2004.
"Valuing Rail Access Using Transport Innovations,"
CEP Discussion Papers
dp0611, Centre for Economic Performance, LSE.
- Kiel, Katherine & Zabel, Jeffrey, 2001. "Estimating the Economic Benefits of Cleaning Up Superfund Sites: The Case of Woburn, Massachusetts," The Journal of Real Estate Finance and Economics, Springer, vol. 22(2-3), pages 163-84, March-May.
- Okmyung Bin, 2005. "A semiparametric hedonic model for valuing wetlands," Applied Economics Letters, Taylor & Francis Journals, vol. 12(10), pages 597-601.
- Jan Rouwendal & J. Willemijn van der Straaten, 2008.
"The Costs and Benefits of Providing Open Space in Cities,"
Tinbergen Institute Discussion Papers
08-001/3, Tinbergen Institute.
- Jan Rouwendal & Willemijn Weijschede- v.d. Straaten, 2008. "The costs and benefits of providing open space in cities," CPB Discussion Paper 98, CPB Netherlands Bureau for Economic Policy Analysis.
- Martijn Burger & Frank van Oort & Gert-Jan Linders, 2009.
"On the Specification of the Gravity Model of Trade: Zeros, Excess Zeros and Zero-inflated Estimation,"
Spatial Economic Analysis,
Taylor & Francis Journals, vol. 4(2), pages 167-190.
- Burger, M.J. & van Oort, F.G. & Linders, G.J.M., 2009. "On the Specification of the Gravity Model of Trade: Zeros, Excess Zeros and Zero-Inflated Estimation," ERIM Report Series Research in Management ERS-2009-003-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
- Christophe Bontemps & Michel Simioni & Yves Surry, 2008.
"Semiparametric hedonic price models: assessing the effects of agricultural nonpoint source pollution,"
Journal of Applied Econometrics,
John Wiley & Sons, Ltd., vol. 23(6), pages 825-842.
- Bontemps, C. & Simioni, M. & Surry, Y., 2006. "Semiparametric hedonic price models : assessing the effects of agricultural nonpoint source pollution," Economics Working Paper Archive (Toulouse) 200602, French Institute for Agronomy Research (INRA), Economics Laboratory in Toulouse (ESR Toulouse).
- Willem K Korthals Altes, 2007.
"The impact of abolishing social-housing grants on the compact-city policy of Dutch municipalities,"
Environment and Planning A,
Pion Ltd, London, vol. 39(6), pages 1497-1512, June.
- Willem K Korthals Altes, 2007. "The Impact of Abolishing Social-Housing Grants on the Compact-City Policy of Dutch Municipalities," Environment and Planning A, , vol. 39(6), pages 1497-1512, June.
- Cropper, Maureen L & Deck, Leland B & McConnell, Kenneth E, 1988. "On the Choice of Functional Form for Hedonic Price Functions," The Review of Economics and Statistics, MIT Press, vol. 70(4), pages 668-75, November.
- Patrick Bajari & C. Lanier Benkard, 2005. "Demand Estimation with Heterogeneous Consumers and Unobserved Product Characteristics: A Hedonic Approach," Journal of Political Economy, University of Chicago Press, vol. 113(6), pages 1239-1276, December.
- Cheshire, Paul & Sheppard, Stephen, 1998. "Estimating the Demand for Housing, Land, and Neighbourhood Characteristics," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 60(3), pages 357-82, August.
- John Xu Zheng, 1996. "A consistent test of functional form via nonparametric estimation techniques," Journal of Econometrics, Elsevier, vol. 75(2), pages 263-289, December.
- Robinson, Peter M, 1988. "Root- N-Consistent Semiparametric Regression," Econometrica, Econometric Society, vol. 56(4), pages 931-54, July.
- Craig A Watkins, 2001. "The definition and identification of housing submarkets," Environment and Planning A, Pion Ltd, London, vol. 33(12), pages 2235-2253, December.
When requesting a correction, please mention this item's handle: RePEc:bla:jregsc:v:52:y:2012:i:5:p:733-761. 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: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.