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Gulf Views: Toward a Better Understanding of Viewshed Scope in Hedonic Property Models

Author

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  • Paul Hindsley
  • Stuart E. Hamilton
  • O. Ashton Morgan

Abstract

This study examines the influence of Gulf of Mexico views on residential home sales prices in Pinellas County, Florida. We utilize Light Detection and Ranging (lidar) data to construct four continuous measures of Gulf of Mexico views – the total view, the maximum view segment, the mean view segment, and proximity to view content. Our results illustrate that residential property owners have a higher marginal willingness-to-pay for larger total views and larger continuous view segments. Results also indicate that the proximity of homes to the view content influences view valuations. Key Words:

Suggested Citation

  • Paul Hindsley & Stuart E. Hamilton & O. Ashton Morgan, 2011. "Gulf Views: Toward a Better Understanding of Viewshed Scope in Hedonic Property Models," Working Papers 11-06, Department of Economics, Appalachian State University.
    • Handle: RePEc:apl:wpaper:11-06
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    File URL: http://econ.appstate.edu/RePEc/pdf/wp1106.pdf
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    Cited by:

    1. Andrew Bechard, 2021. "Gone with the Wind: Declines in Property Values as Harmful Algal Blooms Are Blown Towards the Shore," The Journal of Real Estate Finance and Economics, Springer, vol. 62(2), pages 242-257, February.
    2. Kara, Abdullah & van Oosterom, Peter & Çağdaş, Volkan & Işıkdağ, Ümit & Lemmen, Christiaan, 2020. "3 Dimensional data research for property valuation in the context of the LADM Valuation Information Model," Land Use Policy, Elsevier, vol. 98(C).
    3. Kolstoe, Sonja H. & Kaminski, Abigail R. & Maher, Anna T., 2023. "Viewsheds and Recreation Demand: Approaches for Capturing Visual Qualities of the Landscape Post-Fire," Western Economics Forum, Western Agricultural Economics Association, vol. 21(2), September.
    4. Kolstoe, Sonja H. & Kaminski, Abigail R. & Maher, Anna T., 2023. "Viewsheds and Recreation Demand: Approaches for Capturing Visual Qualities of the Landscape Post-Fire," Western Economics Forum, Western Agricultural Economics Association, vol. 21(2), September.
    5. Kerry Smith, V. & Whitmore, Ben, 2020. "Coastal amenities and income stratification," Economics Letters, Elsevier, vol. 192(C).
    6. Yuheng Ling, 2022. "Estimating coastal premiums for apartment prices: Towards a new multilevel modelling approach," Environment and Planning B, , vol. 49(1), pages 188-205, January.

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