Measuring the Contribution of Water and Green Space Amenities to Housing Values: An Application and Comparison of Spatially Weighted Hedonic Models
نویسنده
چکیده
This study estimates the influence of proximity to water bodies and park amenities on residential housing values in Knox County, Tennessee, using the hedonic price approach. Values for proximity to water bodies and parks are first estimated globally with a standard ordinary least squares (OLS) model. A locally weighted regression model is then employed to investigate spatial nonstationarity and generate local estimates for individual sources of each amenity. The local model reveals some important local differences in the effects of proximity to water bodies and parks on housing price.
منابع مشابه
پیشبینی قیمت مسکن برای شهر اهواز: مقایسه مدل هدانیک با مدل شبکه عصبی مصنوعی
Determination and the estimation of the house price in urban areas has a great importance for governments, individual and state investors and common people. The mentioned estimation can be used in future planning and decision making of many urban and regional policies. In this regard, due to the vital importance of the house price in recent decades powerful and effective functions have been use...
متن کاملHousing Price Response to the Interaction of Positive Coastal Amenities and Negative Flood Risks
A number of hedonic property pricing studies of flood risk indicate that properties within a designated higher flood risk zone sell for a lower price than an equivalent property outside of it. However, often the homes most at flood risk are also the most desirable in terms of their proximity to the water, and this concurrent existence of positive water-related amenities and negative flood risk ...
متن کاملGreen Open Space Housing Public Company Panakkukang Makassar Indonesia
This study is a field research that aims to determine the extent of green open spaces that serve asneighborhood parks in Housing Public Company Panakkukang, which consists of three areas: Toddopuli, Tidung,and Tamalate. Population in this study, is the third of the areas. The selected sample is Tamalate, arguing that thearea is in the middle and is central to the whole Housing Public Company Pa...
متن کاملHousing Sub-markets and Hedonic Price Analysis: A Bayesian Approach
Sub-market definition has been identified as an important step in hedonic price analysis, to improve price predictions as well as estimates of marginal prices. Early market segmentation procedures were based on various definitions of housing or neighbourhood type. With the advent of new technologies (e.g. GIS), and statistical techniques (e.g. spatial models, clustering techniques), more sophis...
متن کاملInvestigating strategies for optimum water usage in green spaces covered with lawn
Water supply of green spaces in arid areas is a major challenge. A high percentage of green spacescreate lawns, which are high water consumer landscapes. Due to the environmental, recreational andathletic values of lawns, they are considered as non-removable elements in urban green space development.This paper reviews and discusses strategies for efficient water usage in lawn areas using librar...
متن کامل