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Measuring the willingness to pay for houses in a sustainable neighborhood

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  • Tan, Teck Hong

Abstract

This paper determine the responsiveness of the willingness to pay to changes in structural, locational, and neighborhood attributes of housing that incorporate sustainability objectives. In this study, 299 households from Kuala Lumpur and Selangor in Malaysia were interviewed. Results show that housing developers should build the neighborhood that promotes sustainability as house buyers generally are willing to pay more to live in a sustainable neighborhood. In order to build a progressive low carbon economy, the government should create the vision and give policy directions and guidelines that describe all aspects necessary of a sustainable neighborhood.

Suggested Citation

  • Tan, Teck Hong, 2011. "Measuring the willingness to pay for houses in a sustainable neighborhood," MPRA Paper 30446, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:30446
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    File URL: https://mpra.ub.uni-muenchen.de/46815/1/MPRA_paper_46815.pdf
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    References listed on IDEAS

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    1. Margot Lutzenhiser & Noelwah R. Netusil, 2001. "The Effect Of Open Spaces On A Home'S Sale Price," Contemporary Economic Policy, Western Economic Association International, vol. 19(3), pages 291-298, July.
    2. 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..
    3. DiPasquale, Denise & Glaeser, Edward L., 1999. "Incentives and Social Capital: Are Homeowners Better Citizens?," Journal of Urban Economics, Elsevier, vol. 45(2), pages 354-384, March.
    4. Tan, Teck Hong, 2008. "Determinants of homeownership in Malaysia," MPRA Paper 34950, University Library of Munich, Germany.
    5. Piyush Tiwari, 2000. "Housing Demand in Tokyo," International Real Estate Review, Asian Real Estate Society, vol. 3(1), pages 65-92.
    6. Mok, Henry M K & Chan, Patrick P K & Cho, Yiu-sun, 1995. "A Hedonic Price Model for Private Properties in Hong Kong," The Journal of Real Estate Finance and Economics, Springer, vol. 10(1), pages 37-48, January.
    7. Mats Wilhelmsson, 2000. "The Impact of Traffic Noise on the Values of Single-family Houses," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 43(6), pages 799-815.
    8. Tyrvainen, Liisa & Miettinen, Antti, 2000. "Property Prices and Urban Forest Amenities," Journal of Environmental Economics and Management, Elsevier, vol. 39(2), pages 205-223, March.
    9. Ben C. Arimah, 1992. "An Empirical Analysis of the Demand for Housing Attributes in a Third World City," Land Economics, University of Wisconsin Press, vol. 68(4), pages 366-379.
    10. Seppo Laakso & Heikki A. Loikkanen, 1995. "Finnish Homes-Through Passages or Traps?," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 23(4), pages 475-495.
    11. Tan, Teck Hong, 2008. "Determinants of homeownership in Malaysia," MPRA Paper 34909, University Library of Munich, Germany.
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      Keywords

      Sustainable Neighborhood; Sustainability; Willingness to Pay; Malaysia;

      JEL classification:

      • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
      • C42 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Survey Methods

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