The Effect of Natural Space on Nearby Property Prices: Accounting for Perceived Attractiveness

Michiel N. Daams; Frans J. Sijtsma; Arno J. van der Vlist

doi:10.3368/le.92.3.389

The Effect of Natural Space on Nearby Property Prices: Accounting for Perceived Attractiveness

Michiel N. Daams^*, Frans J. Sijtsma, Arno J. van der Vlist

^*Corresponding author for this work

Urban and Regional Studies Institute

Research output: Contribution to journal › Article › Academic › peer-review

52 Citations (Scopus)

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Abstract

This paper estimates the effect of attractive natural space on Dutch residential property prices. We operationalize attractive natural spaces by combining land use data with unique data on the perceived attractiveness of natural spaces. In our main results, the effect of attractive natural space on property prices falls from 16.0% for properties within 0.5 km, to 1.6% for properties up to 7 km away. Our findings advance existing hedonic studies by verifying that economic benefits of living near natural space extend over a larger distance. This has important implications for public policy regarding investment in natural space near residential areas.

Original language	English
Pages (from-to)	389-410
Number of pages	22
Journal	Land Economics
Volume	92
Issue number	3
DOIs	https://doi.org/10.3368/le.92.3.389
Publication status	Published - Aug-2016

Keywords

SPATIAL-ANALYSIS
AMENITY VALUE
HOUSE PRICES
URBAN
GREEN
VALUES
NETHERLANDS
MODELS
HOMEBUYERS
PREDICTION

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10.3368/le.92.3.389

The Effect of Natural SpaceFinal publisher's version, 366 KBLicence: Taverne

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52 Citations
1 Conference contribution

How far do Dutch people live from attractive nature? An assessment using parallel computing with Python and FOSS4G libraries
Droge, B., van der Meulen, L. & Schoof, G., 12-Jul-2015, Geomatics Workbooks : FOSS4G Europe Como 2015. Brovelli, M. A., Minghini, M. & Negretti, M. (eds.). Como: Laboratorio di Geomatica - Politecnico di Milano , Vol. 12. p. 51-53 3 p. 113
Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic

Open Access

Waarde groen voor waarde woningen: effect groter dan gedacht
Daams, M.
01/06/2017
1 Media contribution
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@article{7dafa9916c604304be5281a19e91cf73,

title = "The Effect of Natural Space on Nearby Property Prices: Accounting for Perceived Attractiveness",

abstract = "This paper estimates the effect of attractive natural space on Dutch residential property prices. We operationalize attractive natural spaces by combining land use data with unique data on the perceived attractiveness of natural spaces. In our main results, the effect of attractive natural space on property prices falls from 16.0% for properties within 0.5 km, to 1.6% for properties up to 7 km away. Our findings advance existing hedonic studies by verifying that economic benefits of living near natural space extend over a larger distance. This has important implications for public policy regarding investment in natural space near residential areas.",

keywords = "SPATIAL-ANALYSIS, AMENITY VALUE, HOUSE PRICES, URBAN, GREEN, VALUES, NETHERLANDS, MODELS, HOMEBUYERS, PREDICTION",

author = "Daams, {Michiel N.} and Sijtsma, {Frans J.} and {van der Vlist}, {Arno J.}",

year = "2016",

month = aug,

doi = "10.3368/le.92.3.389",

language = "English",

volume = "92",

pages = "389--410",

journal = "Land Economics",

issn = "0023-7639",

publisher = "UNIV WISCONSIN PRESS",

number = "3",

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T1 - The Effect of Natural Space on Nearby Property Prices

T2 - Accounting for Perceived Attractiveness

AU - Daams, Michiel N.

AU - Sijtsma, Frans J.

AU - van der Vlist, Arno J.

PY - 2016/8

Y1 - 2016/8

N2 - This paper estimates the effect of attractive natural space on Dutch residential property prices. We operationalize attractive natural spaces by combining land use data with unique data on the perceived attractiveness of natural spaces. In our main results, the effect of attractive natural space on property prices falls from 16.0% for properties within 0.5 km, to 1.6% for properties up to 7 km away. Our findings advance existing hedonic studies by verifying that economic benefits of living near natural space extend over a larger distance. This has important implications for public policy regarding investment in natural space near residential areas.

AB - This paper estimates the effect of attractive natural space on Dutch residential property prices. We operationalize attractive natural spaces by combining land use data with unique data on the perceived attractiveness of natural spaces. In our main results, the effect of attractive natural space on property prices falls from 16.0% for properties within 0.5 km, to 1.6% for properties up to 7 km away. Our findings advance existing hedonic studies by verifying that economic benefits of living near natural space extend over a larger distance. This has important implications for public policy regarding investment in natural space near residential areas.

KW - SPATIAL-ANALYSIS

KW - AMENITY VALUE

KW - HOUSE PRICES

KW - URBAN

KW - GREEN

KW - VALUES

KW - NETHERLANDS

KW - MODELS

KW - HOMEBUYERS

KW - PREDICTION

U2 - 10.3368/le.92.3.389

DO - 10.3368/le.92.3.389

M3 - Article

SN - 0023-7639

VL - 92

SP - 389

EP - 410

JO - Land Economics

JF - Land Economics

IS - 3

ER -

The Effect of Natural Space on Nearby Property Prices: Accounting for Perceived Attractiveness

Abstract

Keywords

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Research output

How far do Dutch people live from attractive nature? An assessment using parallel computing with Python and FOSS4G libraries

Press/Media

Waarde groen voor waarde woningen: effect groter dan gedacht

Cite this