Living on the Edge: Residential Property Values in the Urban-Rural Interface

This study estimates the contribution of both urban-rural fringe location and lake proximity on residential property values in three upstate counties of South Carolina through estimation of spatial hedonic housing price models. Location in the urban fringe and the urban–rural interface are found to have a positive impact on residential housing values relative to either urban or more rural locations. Lakes in the upstate contribute positively to housing values to the extent that the house has a view of a lake, lake access, or lake frontage.

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Does Close Count? School Proximity, School Quality, and Residential Property Values

Journal of Agricultural and Applied Economics ◽

10.1017/s1074070800022859 ◽

2007 ◽

Vol 39 (1) ◽

pp. 211-221 ◽

Cited By ~ 14

Author(s):

Kwame Owusu-Edusei ◽

Molly Espey ◽

Huiyan Lin

Keyword(s):

High School ◽

South Carolina ◽

School Quality ◽

Average Distance ◽

Property Values ◽

School Level ◽

Residential Property ◽

Residential Property Values ◽

The Impact

This study jointly estimates the impact of school quality and school proximity on residential property values in Greenville, South Carolina. While quality is found to be capitalized into residential property values, the degree of capitalization depends on school level and proximity to each school for which the house is zoned for attendance. In general, there is positive value associated with closer proximity to schools of all levels, and negative value associated with a significantly longer than average distance to schools. In terms of quality rankings, excellence at the elementary and high school levels has the strongest impact on property values.

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Assessing the Economic Impact of Sports Facilities on Residential Property Values

Journal of Sports Economics ◽

10.1177/1527002515622318 ◽

2016 ◽

Vol 19 (2) ◽

pp. 188-210 ◽

Cited By ~ 22

Author(s):

Xia Feng ◽

Brad Humphreys

Keyword(s):

Property Values ◽

Local Economy ◽

Least Square ◽

Hedonic Model ◽

Residential Property ◽

Model Parameters ◽

Sports Facilities ◽

Residential Housing ◽

Ordinary Least Square ◽

Residential Property Values

We estimate the effect of proximity to two sports facilities in Columbus, OH, on residential property values. Results from a spatial hedonic model indicate that the presence of sports facilities in Columbus have a significant, positive, and distance-decaying effect on surrounding residential housing values, supporting the idea that professional sports facilities generate intangible benefits in the local economy. Ordinary least square (OLS) overestimates the hedonic model parameters compared with maximum likelihood and spatial two-stage least squares, suggesting that spatial autocorrelation plays an important role in this setting.

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The impact of senior house developments on surrounding residential property values

Property Management ◽

10.1108/pm-11-2015-0059 ◽

2016 ◽

Vol 34 (5) ◽

pp. 415-433 ◽

Cited By ~ 1

Author(s):

Antti Tapio Kurvinen ◽

Tanja Tyvimaa

Keyword(s):

Positive Impact ◽

Property Values ◽

Hedonic Pricing ◽

Residential Property ◽

Content Type ◽

Senior Housing ◽

Housing Developments ◽

Matching Procedure ◽

Residential Property Values ◽

The Impact

Purpose Even as many countries are facing changes in demographic profile and new types of senior housing developments are becoming more important, there is limited evidence for the development impact of a senior house on surrounding residential property values. The purpose of this paper is to address the void in knowledge, investigating the impact of senior house developments on apartment values in Tampere, Finland. Design/methodology/approach To specify valuation effects of proximate senior house development projects, advanced research design combining propensity score matching procedure and hedonic pricing models is used. Findings The results show that a senior house development has a significant positive impact on proximate residential property values within a 500 metre radius. The impact is found to be the highest in underdeveloped neighbourhoods. Nevertheless, in neighbourhoods where property values and demand for housing units are higher and senior house developments fall into the criteria of infill development, a premium is lower, but still statistically significant and notable in magnitude. Research limitations/implications This paper studies apartment values only in Tampere, Finland, and it is important to notice that local regulations and market conditions may have a notable impact on the outcomes from senior house developments. Originality/value This study is the first of its kind to address a number of empirical issues and provide with statistically significant evidence for positive impacts from senior house developments – encouraging investors and developers to build senior houses.

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Intra-city access to inter-city transport nodes: The implications of high-speed-rail station locations for the urban development of Chinese cities

Urban Studies ◽

10.1177/0042098016646686 ◽

2016 ◽

Vol 54 (10) ◽

pp. 2249-2267 ◽

Cited By ~ 36

Author(s):

Mi Diao ◽

Yi Zhu ◽

Jiren Zhu

Keyword(s):

Urban Development ◽

High Speed ◽

Positive Impact ◽

Property Values ◽

Residential Property ◽

High Speed Rail ◽

Chinese Cities ◽

Residential Property Values ◽

Surrounding Areas ◽

The Impact

In the high-speed-rail (HSR) construction boom of China, although some cities have upgraded old train stations in inner cities to be compatible with HSR, more cities have built new HSR stations on undeveloped land in the urban periphery. This study investigates the impact of intra-city access to inter-city transport nodes and explores the implications of HSR station locations for the accessibility and residential property values in Chinese cities connected by bullet trains. We find that for the cities with HSR stations in suburbs, the gains in inter-city travel brought by HSR are largely offset by the prolonged intra-city travel time to reach the stations, thus limiting frequent usage of HSR for daily commuting. The inner-city HSR station in Hangzhou shows a positive impact on residential property value in the vicinity, while the suburban HSR station in Guangzhou has not been observed to raise the residential property values noticeably in the short term despite the government’s intention to stimulate development in surrounding areas. The research findings show the need for better connections of HSR stations with the city to magnify the accessibility provided by HSR and careful integrated planning to promote desirable urban development outcomes in station areas.

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Are governmental accounting measures value relevant to the citizenry?

Journal of Public Budgeting Accounting & Financial Management ◽

10.1108/jpbafm-26-04-2014-b003 ◽

2014 ◽

Vol 26 (4) ◽

pp. 583-613 ◽

Cited By ~ 4

Author(s):

Paul A. Copley ◽

Edward B. Douthett,

Keyword(s):

Performance Measures ◽

Property Values ◽

Residential Property ◽

Government Performance ◽

Housing Values ◽

Financial Measures ◽

Governmental Accounting ◽

Housing Value ◽

Outstanding Debt ◽

Residential Property Values

We examine the relevance of governmental accounting information to the citizenry by analyzing the association between various financial and non-financial measures of local government performance and residential property values. The link between government performance measures and residential property values is based on a model of housing value capitalization developed by Yinger (1982). Using a model of firstdifferences, we find that changes in housing values are associated with government financial measures, including reported surplus and changes in outstanding debt. Further, we find that changes in housing values are also associated with non-financial measures of performance by county schools. Overall our results suggest that both financial and non-financial government performance measures are economically relevant to citizen property owners.

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How Does Urban Rail Transit Influence Residential Property Values? Evidence from An Emerging Chinese Megacity

Sustainability ◽

10.3390/su11020534 ◽

2019 ◽

Vol 11 (2) ◽

pp. 534 ◽

Cited By ~ 1

Author(s):

Dongfang Zhang ◽

Jingjuan Jiao

Keyword(s):

Real Estate ◽

Positive Impact ◽

Property Values ◽

Urban Rail Transit ◽

Residential Property ◽

Rail Transit ◽

Data Set ◽

Real Estate Markets ◽

Urban Rail ◽

Residential Property Values

Urban rail transit (URT) plays crucial economic, social, and environmental roles and may generate positive externalities that can influence the residential property values (RPVs) in real estate markets. Little attention has been given to exploring the impacts with respect to both the spatial and temporal perspectives. This paper explores the impacts of URT on the RPVs of 480 gated communities with respect to the spatial and temporal dimensions using the hedonic price model and a panel data set from Zhengzhou for 2012–2016. The results show the following: (1) URT does have a significant positive impact on the RPVs in all the selected years from 2012 to 2016, and the influencing strength was a “U-shape” with the increased travel time to the nearest URT stations in most of the selected years. Specially, there is quite some interaction between the temporal and spatial dimensions. (2) The influencing strength of URT during its early stages of planning and construction was higher than that during the operation periods, which is quite different from previous research that uses these first-tier cities such as Beijing and Shanghai in China. (3) Regarding the operating period, the influencing strength reached its peak point after two years of the URT line operating. The results of this paper could provide some new ideas for policy-makers, real estate developers, and even the consumers in real estate markets.

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