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Title: How Do Homebuyers Value Different Types of Green Space?
Authors: Bark, Rosalind H.
Osgood, Daniel E.
Colby, Bonnie G.
Halper, Eve B.
Keywords: hedonic model
locally weighted regression
open space
golf course
Issue Date: 2011-08
Abstract: It is important to understand tradeoffs in preferences for natural and constructed green space in semi-arid urban areas because these lands compete for scarce water resources. We perform a hedonic study using high resolution, remotely-sensed vegetation indices and house sales records. We find that homebuyers in the study area prefer greener lots, greener neighborhoods, and greener nearby riparian corridors, and they pay premiums for proximity to green space amenities. The findings have fundamental implications for the efficient allocation of limited water supplies between different types of green space and for native vegetation conservation in semi-arid metropolitan areas.
Institution/Association: Journal of Agricultural and Resource Economics>Volume 36, Number 2, August 2011
Total Pages: 21
From Page: 395
To Page: 415
Collections:Volume 36, Number 2, August 2011

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