Floods and Residential Property Values: A Hedonic Price Analysis for the Netherlands

2009 ◽  
Vol 35 (4) ◽  
pp. 563-576 ◽  
Author(s):  
Vanessa E Daniel ◽  
Raymond J.G.M Florax ◽  
Piet Rietveld
Keyword(s):  
The Netherlands ◽  
Property Values ◽  
Residential Property ◽  
Hedonic Price ◽  
Hedonic Price Analysis ◽  
Residential Property Values ◽  
Price Analysis

The spatial varying relationship between services of the train network and residential property values in Melbourne, Australia

Urban Studies ◽  
2020 ◽  
pp. 004209801989697
Author(s):  
Qianyao Li ◽  
Junwu Wang ◽  
Judith Callanan ◽  
Binbin Lu ◽  
Zeng Guo
Keyword(s):  
Local Level ◽  
Property Values ◽  
Residential Property ◽  
Spatial Effects ◽  
Hedonic Price ◽  
Residential Properties ◽  
Train Services ◽  
Service Frequency ◽  
Residential Property Values ◽  
The Relationship

This study investigates the spatial effects of the service frequency and transport interchange facilities of rail stations on residential property values for the entire metropolitan train network in Melbourne. Residential properties are classified as either detached or attached dwellings. Given that a traditional hedonic price model cannot handle the spatial dependence and spatial non-stationarity of the housing market, several geographically weighted regression (GWR) models are used and multicollinearity is considered; the model with the Euclidean distance metric outperforms others. Results indicate that the service frequency and facilities of the stations influence the residential property values in a spatially variable way. For every 1 km closer to the train stations, an increase in the frequency of the train services per unit results in a change in the residential property values ranging from −4.01% to 2.71%; an improvement in the transport interchange facilities per unit results in a change in the residential property values ranging from −29.93% to 47.04%. Crime and retail activities that indirectly affect the relationship between rail stations and residential property values are also identified. For every 1 km closer to the train stations, the crime density increases significantly from 5.64% to 42.88% and this occurs in one-fifth of the areas in Melbourne. In contrast, the relationship between retail activities and train stations remains spatially stable. This study complements the relatively scarce literature on the link between railway service levels and residential property values while extending the case study to the local level.

scholarly journals On Estimating Household Demand for Outdoor Recreation from Property Values: An Exploration

1989 ◽  
Vol 18 (2) ◽  
pp. 140-148 ◽  
Author(s):  
Steven F. Edwards
Keyword(s):  
Outdoor Recreation ◽  
Property Values ◽  
Hedonic Price ◽  
Travel Costs ◽  
Hedonic Price Analysis ◽  
Total Surplus ◽  
Recreational Area ◽  
Price Analysis ◽  
The Cost ◽  
Property Markets

This paper explores how hedonic price analysis might be used to estimate the surplus benefits of local outdoor recreation when distance to the recreational site is captured in property values. The model is characterized by the endogenous choice of distance to a local recreational area by households in coastal property markets and by the capitalization of proximity in property values. Equilibrium occurs when the reduction in the cost of a property due to a marginal increase in distance to the recreational area equals the associated loss in recreational surplus resulting from increased travel costs. The theoretical model is applied in an exploratory analysis of the “demand” for distance to the nearest public beach from which total surplus benefits are estimated.

Hedonic Analysis of Impacts of Traffic Volumes on Property Values

2005 ◽  
Vol 1924 (1) ◽  
pp. 69-75 ◽  
Author(s):  
Kazuya Kawamura ◽  
Shruti Mahajan
Keyword(s):  
Property Values ◽  
Model Specification ◽  
Hedonic Price ◽  
Property Value ◽  
Passenger Cars ◽  
Data Set ◽  
Hedonic Price Analysis ◽  
Traffic Characteristics ◽  
Traffic Volumes ◽  
Price Analysis

This research attempts to quantify the cumulative impacts of vehicle traffic, both passenger cars and trucks, by using the hedonic price analysis of the relationship between property values and the traffic along selected arterial corridors in Chicago, Illinois. The traffic characteristics are derived from the traffic counts data obtained from the City of Chicago and include average daily traffic, maximum daily peak, and nighttime volumes, calculated separately for trucks and for total traffic. Autoregressive models, with assessed property value as the dependent variable and traffic characteristics along with other determinants of property value as the independent variables, are constructed. The models include a spatial-lag term to control for the spatial autocorrelation and are estimated using the two-stage least squares. The regression results from the final models suggest that although the characteristics for total traffic have modest but statistically significant impact on property values, the traffic characteristics for trucks are statistically insignificant. Also, the strong evidence of spatial dependence in the data set underscores the importance of paying close attention to the model specification and controlling the autocorrelation in the hedonic price analysis.

scholarly journals Hedonic Price Modeling of New Residential Property Values in Xi’an City, China

2017 ◽  
Vol 5 (9) ◽  
pp. 42 ◽  
Author(s):  
Kai Liu ◽  
Toshiaki Ichinose
Keyword(s):  
Real Estate ◽  
Property Values ◽  
Real Estate Market ◽  
Future Trend ◽  
Residential Property ◽  
Hedonic Price ◽  
The Real ◽  
The Real Estate ◽  
Residential Property Values ◽  
Xi’An City

This study analyzed new residential property values of Xi’an City in March, 2014. Results show that accessibility indices, such as distance to CBD, have been well capitalized into the residential property values. Particularly, a within-zone housing unit is sold 9.4% more than if it was outside the attendance zone of a Key Primary School, i.e. home buyers have how much willingness-to-pay for the high-quality educational resource. Another corollary is got that the accessibility to subway stations has not significantly been capitalized, only with a low premium reflecting in the real estate market of Xi’an City. Considered that spatial local singularities caused by unobserved variables or estimation bias can be associated with multi-regression errors, this study herein has explored an unconventional viewpoint to residual problem, which combines the regional differences (coming from real world) and the spatial distributions of singularities (feedback from data). Furthermore, whole samples are classified into 5 agglomerations for revealing the underlying reasons about the future trend and variation of real estate market within each region. It is effective to provide scientific basis of decision making for the real estate investors and planners.

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