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Spatial analysis of the amenity value of green open space

  • Cho, Seong-Hoon
  • Poudyal, Neelam C.
  • Roberts, Roland K.

The objective of this research is to determine the spatial variation in amenity values for both quantity and quality of green open space in the housing market. Variables related to size, proximity, spatial configuration, and species composition of open space are endogenized in the global and local models in a hedonic price framework. Empirical evidence shows that amenities of different features of open space vary according to the degree of urbanization. In summary, evergreen trees, a diverse landscape with fragmented forest patches, and more complex and natural forest edges are more highly valued in Rural-Urban interfaces. In contrast, deciduous and mixed forests, larger forest blocks, and smoothly trimmed and man-made forest patch boundaries are more highly valued in urban core areas. As spatial variation in amenity values differs across a metropolitan area, the need for site-specific land use management to fit the local characteristics is recognized.

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Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 66 (2008)
Issue (Month): 2-3 (June)
Pages: 403-416

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Handle: RePEc:eee:ecolec:v:66:y:2008:i:2-3:p:403-416
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolecon

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  1. Geoghegan, Jacqueline & Wainger, Lisa A. & Bockstael, Nancy E., 1997. "Spatial landscape indices in a hedonic framework: an ecological economics analysis using GIS," Ecological Economics, Elsevier, vol. 23(3), pages 251-264, December.
  2. Doss, Cheryl R. & Taff, Steven J., 1996. "The Influence Of Wetland Type And Wetland Proximity On Residential Property Values," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 21(01), July.
  3. Kostas Tsatsaronis & Haibin Zhu, 2004. "What drives housing price dynamics: cross-country evidence," BIS Quarterly Review, Bank for International Settlements, March.
  4. Walsh, Randy, 2007. "Endogenous open space amenities in a locational equilibrium," Journal of Urban Economics, Elsevier, vol. 61(2), pages 319-344, March.
  5. Goodman, Allen C. & Thibodeau, Thomas G., 1998. "Housing Market Segmentation," Journal of Housing Economics, Elsevier, vol. 7(2), pages 121-143, June.
  6. Yan Kestens & Marius Th�riault & Fran�ois Des Rosiers, 2004. "The impact of surrounding land use and vegetation on single-family house prices," Environment and Planning B: Planning and Design, Pion Ltd, London, vol. 31(4), pages 539-567, July.
  7. Acharya, Gayatri & Bennett, Lynne Lewis, 2001. "Valuing Open Space and Land-Use Patterns in Urban Watersheds," The Journal of Real Estate Finance and Economics, Springer, vol. 22(2-3), pages 221-37, March-May.
  8. 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.
  9. Bucholtz, Shawn & Geoghegan, Jacqueline & Lynch, Lori, 2003. "Capitalization of Open Spaces into Housing Values and the Residential Property Tax Revenue Impacts of Agricultural Easement Programs," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 32(1), April.
  10. Brent L. Mahan & BStephen Polasky & Richard M. Adams, 2000. "Valuing Urban Wetlands: A Property Price Approach," Land Economics, University of Wisconsin Press, vol. 76(1), pages 100-113.
  11. Smith, V. Kerry & Poulos, Christine & Kim, Hyun, 2002. "Treating open space as an urban amenity," Resource and Energy Economics, Elsevier, vol. 24(1-2), pages 107-129, February.
  12. 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.
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