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Housing property along riverbanks in Taipei, Taiwan: a spatial quantile modelling of landscape benefits and flooding losses

Author

Listed:
  • Pei-Ing Wu

    (National Taiwan University)

  • Yi Chen

    (Arboriculture and Landscape Management Office)

  • Je-Liang Liou

    (Chung-Hua Institution for Economic Research)

Abstract

The purpose of this study is to compare the riverbank landscape benefit and flooding loss for housing property types with different price levels along the Tamsui River in Taipei, Taiwan. The most important contribution of this study is the empirical accomplishment of analysing a large dataset of 23,948 transacted housing properties by using a spatial lag quantile regression model. The overall results show that the riverbank landscape benefit on both sides of the Tamsui River is larger than the flooding loss. By housing type, the flooding losses for some types of housing properties with specific price levels are larger than the riverbank landscape benefits. However, for housing properties with the highest prices, the riverbank landscape benefit is in general larger than its corresponding flooding loss. Accounting for both the riverbank landscape benefit and flooding loss for every type of housing property provides comprehensive guidance and gives urban development a constructive direction.

Suggested Citation

  • Pei-Ing Wu & Yi Chen & Je-Liang Liou, 2021. "Housing property along riverbanks in Taipei, Taiwan: a spatial quantile modelling of landscape benefits and flooding losses," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(2), pages 2404-2438, February.
    • Handle: RePEc:spr:endesu:v:23:y:2021:i:2:d:10.1007_s10668-020-00680-7
    DOI: 10.1007/s10668-020-00680-7
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    More about this item

    Keywords

    Flooding loss; Geographic information system; Landscape benefit; Spatial lag quantile regression; Willingness to pay; Hedonic price method;
    All these keywords.

    JEL classification:

    • C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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