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Natural amenities in urban space – A geographically weighted regression approach
Jönköping University, Jönköping International Business School, JIBS, Economics, Finance and Statistics.
2014 (English)In: Landscape and Urban Planning, ISSN 0169-2046, E-ISSN 1872-6062, Vol. 121, p. 45-54Article in journal (Refereed) Published
Abstract [en]

Natural amenities play an important role in explaining intra-regional economic growth, because they increase the competition between places and the relative demand for housing. This paper shows that these relationships are strongly location-specific, such that the magnitude and the direction, of value assessments vary across the urban surface. The analysis in this study addresses spatial heterogeneity in the valuations of preserved open space amenities using Swedish house price data. The results show that marginal valuations of open space amenities are high in locations that are characterised by high population and housing densities and low or insignificant in areas where undeveloped lands are abundant, thus, supporting the hypothesis that a greater competition for those, locational attributes that are in high demand, yet locally scarce, results in higher marginal prices.

Place, publisher, year, edition, pages
2014. Vol. 121, p. 45-54
Keywords [en]
Open space amenities, Local heterogeneity, Geographically weighted regression model
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-22411DOI: 10.1016/j.landurbplan.2013.08.017OAI: oai:DiVA.org:hj-22411DiVA, id: diva2:656145
Available from: 2013-10-15 Created: 2013-10-15 Last updated: 2017-12-06Bibliographically approved
In thesis
1. Price Formation in Real Estate Markets
Open this publication in new window or tab >>Price Formation in Real Estate Markets
2013 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

This thesis includes an introductory chapter and four individual papers. The papers are held together by concepts associated with price formation in real estate markets, differentiated goods and the local character of land and housing markets. The first two papers focus on the markets for land and agricultural property and the two succeeding studies on housing markets. The first study examines regional variations of Swedish agricultural land prices. The associated empirical model follows the form of earlier literature in testing the influence of expected returns from the current agricultural use of land and the potential for non-agricultural use on prices. The use of market transacted land and the inclusion of decoupled income support to farmers, among a set of agricultural and non-agricultural factors, distinguishes this study from earlier empirical work.

The second paper relates to the first by its focus on decoupled income support, but here the analysis extends to the micro level and to the study of price formation in the market for agricultural property. The study applies a spatial multilevel model to study variations in price determinants across and within local and regional markets.

The third paper is devoted to the analysis of housing prices and their relation to open landscape amenities. The spatial analysis employs two geographical databases containing single-family home sales and preserved open spaces. In order to address the local character of urban housing markets and intraurban heterogeneity in amenity valuations the study applies a geographically weighted regression approach.

The last paper focuses on the market for second homes with a particular emphasis on urban-rural interrelations. The paper is motivated by a growing demand for natural amenities and by the awareness that urban areas are becoming increasingly attractive markets for second homes.

Place, publisher, year, edition, pages
Jönköping: Jönköping International Business School, 2013. p. 179
Series
JIBS Dissertation Series, ISSN 1403-0470 ; 088
National Category
Social Sciences
Identifiers
urn:nbn:se:hj:diva-20736 (URN)978-91-86345-41-9 (ISBN)
Public defence
2013-03-22, B1014 at JIBS, Jönköping, 10:00
Opponent
Supervisors
Available from: 2013-03-04 Created: 2013-03-04 Last updated: 2015-08-27Bibliographically approved

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