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A Hedonic Analysis of the Value of Parks and Green Spaces in the Dublin Area [on housing market]. ESRI WP331. November 2009

Mayor, Karen and Lyons, Sean and Duffy, David and Tol, Richard S.J. (2009) A Hedonic Analysis of the Value of Parks and Green Spaces in the Dublin Area [on housing market]. ESRI WP331. November 2009. [Working Paper]

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    Abstract

    We use a hedonic house price model to estimate the value of green spaces and parks to homeowners in the Dublin area. Using a dataset of house sales between 2001 and 2006 and combining it with available data on the location of green spaces in Dublin it is possible to assess the different values assigned to green areas by homeowners. We find that the value of green space depends first of all on how far from the property it is located. We also find a difference in the values assigned to open access parks and green spaces. For every 10% increase in the share of green space and park area near a house, its average price increases by 7% to 9%. We also attempted to identify different individual parks and rank them according to their value, however due to spatial multicollinearity the results were mixed.

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    Item Type: Working Paper
    Subjects for non-EU documents: Countries > Ireland
    EU policies and themes > Policies & related activities > economic and financial affairs > general
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Depositing User: Alyssa McDonald
    Official EU Document: No
    Language: English
    Date Deposited: 29 Dec 2019 17:59
    Number of Pages: 32
    Last Modified: 29 Dec 2019 18:00
    URI: http://aei.pitt.edu/id/eprint/87881

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