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Real Estate and Land Values on the shoreline: a transaction-level analysis (In French)

Author

Listed:
  • Jeanne DACHARY-BERNARD (UR ADBX, CEMAGREF)
  • Sandrine LYSER (UR ADBX, CEMAGREF)
  • Frédéric GASCHET (GREThA, CNRS, UMR 5113)
  • Guillaume POUYANNE (GREThA, CNRS, UMR 5113)
  • Stéphane VIROL (GREThA, CNRS, UMR 5113)

Abstract

Land use changes generate some conflicts, in particular between agricultural and residential uses in the urbanization context and sprawl phenomena. Coastal zones also produce specific amenities that create conflicts over land-use, increase housing and land values and, associated with and/or substituted to urban amenities modify the structure of the territory.\r\nThis article is aimed at studying the influence of coastal and urban amenities, respectively defined in terms of accessibility to the sea side and to employment center, on prices. We differentiate the analysis between two distinct study areas according to the degree of urban development: the Charente coast that is still highly agricultural, and the Basque coastal area more urbanized. According to these local specificities, we will study with the same hedonic pricing method land use prices in the first case and property prices in the second.\r\nThe main results underline the major influence of littoralisation as structural phenomena in housing and land prices dynamics. We identify two different types of gradient of values in relation to distance to sea side as regards to the residential or agricultural use: a “growth premium” explains the agricultural land price gradient whereas both amenity and accessibility premiums justify the residential gradients.

Suggested Citation

  • Jeanne DACHARY-BERNARD (UR ADBX, CEMAGREF) & Sandrine LYSER (UR ADBX, CEMAGREF) & Frédéric GASCHET (GREThA, CNRS, UMR 5113) & Guillaume POUYANNE (GREThA, CNRS, UMR 5113) & Stéphane VIROL (GREThA, CNRS, 2011. "Real Estate and Land Values on the shoreline: a transaction-level analysis (In French)," Cahiers du GREThA 2011-07, Groupe de Recherche en Economie Théorique et Appliquée.
  • Handle: RePEc:grt:wpegrt:2011-07
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    File URL: http://cahiersdugretha.u-bordeaux4.fr/2011/2011-07.pdf
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    References listed on IDEAS

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    Keywords

    coastal areas; land and housing markets; hedonic pricing; gradients;

    JEL classification:

    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models

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