Access the full text.
Sign up today, get DeepDyve free for 14 days.
Y. Kestens, M. Thériault, François Rosiers (2004)
The Impact of Surrounding Land Use and Vegetation on Single-Family House PricesEnvironment and Planning B: Planning and Design, 31
Dennis Kaufman, N. Cloutier (2006)
The Impact of Small Brownfields and Greenspaces on Residential Property ValuesThe Journal of Real Estate Finance and Economics, 33
C. Luley (1998)
The greening of urban air, 13
H. Akbari, M. Pomerantz, H. Taha (2001)
Cool surfaces and shade trees to reduce energy use and improve air quality in urban areasSolar Energy, 70
L. Tyrväinen, A. Miettinen (2000)
Property Prices and Urban Forest AmenitiesJournal of Environmental Economics and Management, 39
N. Diamond, R. Standiford, P. Passof, J. LeBlanc (1987)
Oak trees have varied effect on land valuesCalifornia Agriculture, 41
C. Herrick (1940)
The Effect of Parks Upon Land and Real Estate Values: Concluding DiscussionJournal of The American Planning Association, 6
Travis Longcore, Christina Li, John Wilson (2004)
Applicability of Citygreen Urban Ecosystem Analysis Software to a Densely Built Urban NeighborhoodUrban Geography, 25
R. Florax, T. Graaff (2004)
The Performance of Diagnostic Tests for Spatial Dependence in Linear Regression Models: A Meta-Analysis of Simulation Studies
R. Paterson, K. Boyle (2002)
Out of Sight, Out of Mind? Using GIS to Incorporate Visibility in Hedonic Property Value ModelsLand Economics, 78
G. Acharya, L. Bennett (2001)
Valuing Open Space and Land-Use Patterns in Urban WatershedsThe Journal of Real Estate Finance and Economics, 22
P. Harnik (2000)
Inside City Parks
J. Wolch, John Wilson, Jed Fehrenbach (2005)
Parks and Park Funding in Los Angeles: An Equity-Mapping AnalysisUrban Geography, 26
L. Anselin (1988)
Spatial Econometrics: Methods and Models
A. Morancho (2003)
A hedonic valuation of urban green areasLandscape and Urban Planning, 66
Brent Mahan (1996)
Valuing Urban Wetlands: A Property Price ApproachLand Economics, 76
L. Anselin, Serge Rey (2010)
Properties of Tests for Spatial Dependence in Linear Regression ModelsGeographical Analysis, 23
J. Miron (1984)
Spatial Autocorrelation in Regression Analysis: A Beginner’s Guide
Marcel Theebe (2004)
Planes, Trains, and Automobiles: The Impact of Traffic Noise on House PricesThe Journal of Real Estate Finance and Economics, 28
S. Orford (2002)
Valuing Locational Externalities: A GIS and Multilevel Modelling ApproachEnvironment and Planning B: Planning and Design, 29
J. Crompton (2001)
The Impact of Parks on Property Values: A Review of the Empirical EvidenceJournal of Leisure Research, 33
R. Pace, Ronald Barry, J. Clapp, Mauricio Rodriquez (1998)
Spatiotemporal Autoregressive Models of Neighborhood EffectsThe Journal of Real Estate Finance and Economics, 17
K. Bell, N. Bockstael (2000)
Applying the Generalized-Moments Estimation Approach to Spatial Problems Involving Micro-Level DataReview of Economics and Statistics, 82
D. Morales, F. R. Micha, R. C. Weber (1983)
Two methods of evaluating trees on residential siteJournal of Arboriculture, 9
G. Lindsey, J. Man, Seth Payton, K. Dickson (2004)
Property Values, Recreation Values, and Urban GreenwaysJournal of park and recreation administration, 22
E. Irwin, N. Bockstael (2001)
The Problem of Identifying Land Use Spillovers: Measuring the Effects of Open Space on Residential Property ValuesAmerican Journal of Agricultural Economics, 83
J. Dombrow, M. Rodriguez, C. F. Sirmans (2000)
The market value of mature trees in single-family housing marketsThe Appraisal Journal, 68
S. Basu, T. Thibodeau (1998)
Analysis of Spatial Autocorrelation in House PricesThe Journal of Real Estate Finance and Economics, 17
J. Odland (1988)
Spatial autocorrelation
P. Gordon-Larsen, R. Mcmurray, B. Popkin (2000)
Determinants of adolescent physical activity and inactivity patterns.Pediatrics, 105 6
T. Bailey, A. Gatrell (1995)
Interactive Spatial Data Analysis
L. Anderson, H. Cordell (1985)
Residential Property Values Improved by Landscaping with TreesSouthern Journal of Applied Forestry, 9
R. Florax, L. Anselin, S. Rey (2004)
Advances in Spatial Econometrics: Methodology, Tools and Applications
A. Gelfand, M. Ecker, J. Knight, C. Sirmans (2004)
The Dynamics of Location in Home PriceThe Journal of Real Estate Finance and Economics, 29
S. Nicholls (2002)
Does open space pay? Measuring the impacts of green spaces on property values and the property tax base
J. F. Dwyer, E. G. McPherson, H. W. Schroeder, R. W. Rowntree (1992)
Assessing benefits and costs of the urban forestJournal of Arboriculture, 18
L. Anselin (2001)
Rao's score test in spatial econometricsJournal of Statistical Planning and Inference, 97
S. Rosen (1974)
Hedonic Prices and Implicit Markets: Product Differentiation in Pure CompetitionJournal of Political Economy, 82
J. L. Crompton (2004)
The proximate principle: The impact of parks and open space on property values and the property tax base
Anil Bera, M. Yoon (1993)
Specification Testing with Locally Misspecified AlternativesEconometric Theory, 9
Myles Patton, S. McErlean (2003)
Spatial Effects within the Agricultural Land Market in Northern IrelandJournal of Agricultural Economics, 54
J. Clapp, Mauricio Rodríguez (1999)
Erratum: Spatiotemporal Autoregressive Models of Neighborhood EffectsJournal of Real Estate Finance and Economics, 19
N. Bockstael, K. Bell (1998)
Land Use Patterns and Water Quality: The Effect of Differential Land Management Controls
L. Anselin (2010)
Lagrange Multiplier Test Diagnostics for Spatial Dependence and Spatial HeterogeneityGeographical Analysis, 20
Klaus Scott, J. Simpson, E. McPherson (1999)
Effects of Tree Cover on Parking Lot Microclimate and Vehicle EmissionsArboriculture & Urban Forestry
S. Anderson, Sarah West (2006)
Open Space, Residential Property Values, and Spatial ContextRegional Science and Urban Economics, 36
C. Bastian, D. Mcleod, M. Germino, W. Reiners, Benedict Blasko (2002)
Environmental amenities and agricultural land values: a hedonic model using geographic information systems dataEcological Economics, 40
Margot Lutzenhiser, Noelwah Netusil (2001)
THE EFFECT OF OPEN SPACES ON A HOME'S SALE PRICEContemporary Economic Policy, 19
G. Blomquist, Lawrence Worley (1981)
Hedonic prices, demands for urban housing amenities, and benefit estimatesJournal of Urban Economics, 9
Mingche Li, H. Brown (1980)
Micro-Neighborhood Externalities and Hedonic Housing PricesLand Economics, 56
R. Ridker, J. Henning (1967)
The Determinants of Residential Property Values with Special Reference to Air PollutionThe Review of Economics and Statistics, 49
R. Pace, Otis Gilley (1997)
Using the Spatial Configuration of the Data to Improve EstimationThe Journal of Real Estate Finance and Economics, 14
François Rosiers, Marius Thériault, Y. Kestens, P. Villeneuve (2002)
Landscaping and House Values: An Empirical InvestigationJournal of Real Estate Research, 23
Chongwon Kim, T. Phipps, L. Anselin (1998)
Measuring the benefits of air quality improvement: a spatial hedonic approachJournal of Environmental Economics and Management, 45
G. Gaile, C. Willmott (1984)
Spatial statistics and modelsEconomic Geography, 61
Aysegul Can (1992)
Specification and estimation of hedonic housing price modelsRegional Science and Urban Economics, 22
C. Herrick (1939)
The effects of parks upon land real estate valuesThe Planning Journal, 5
Ioan Voicu, Vicki Been (2008)
The Effect of Community Gardens on Neighboring Property ValuesERN: Urban Markets (Topic)
L. Anderson, H. Cordell (1988)
Influence of Trees on Residential Property Values in Athens, Georgia (U.S.A. ) : A Survey based on Actual Sales PricesLandscape and Urban Planning, 15
Aysegul Can (1990)
The Measurement of Neighborhood Dynamics in Urban House PricesEconomic Geography, 66
J. Luttik (2000)
The value of trees, water and open space as reflected by house prices in the NetherlandsLandscape and Urban Planning, 48
L. Anselin, Anil Bera, R. Florax, M. Yoon (1996)
Simple diagnostic tests for spatial dependenceRegional Science and Urban Economics, 26
Kurt Beron, Yaw Hanson, J. Murdoch, M. Thayer (2004)
Hedonic Price Functions and Spatial Dependence: Implications for the Demand for Urban Air Quality
D. Nowak, K. Civerolo, S. Rao, G. Sistla, C. Luley, D. Crane (2000)
A modeling study of the impact of urban trees on ozone.Atmospheric Environment, 34
C.Y. Jim, Wendy Chen (2006)
Impacts of urban environmental elements on residential housing prices in Guangzhou (China)Landscape and Urban Planning, 78
J. Pogodzinski, Tim Sass (1991)
Measuring the Effects of Municipal Zoning Regulations: A SurveyUrban Studies, 28
L. Tyrväinen (1997)
The amenity value of the urban forest: an application of the hedonic pricing methodLandscape and Urban Planning, 37
J. Wolch, S. Gabriel (1981)
Local Land-Development Policies and Urban Housing ValuesEnvironment and Planning A, 13
J. Geoghegan, L. Wainger, N. Bockstael (1997)
Spatial landscape indices in a hedonic framework: an ecological economics analysis using GISEcological Economics, 23
A. Troy, J. Grove (2008)
Property values, parks, and crime: A hedonic analysis in Baltimore, MDLandscape and Urban Planning, 87
S. Shultz, D. King (2001)
The Use of Census Data for Hedonic Price Estimates of Open-Space Amenities and Land UseThe Journal of Real Estate Finance and Economics, 22
J. Geoghegan, L. Lynch, S. Bucholtz (2003)
Capitalization of Open Spaces into Housing Values and the Residential Property Tax Revenue Impacts of Agricultural Easement ProgramsAgricultural and Resource Economics Review, 32
R. Dubin, Chein-Hsing Sung (1990)
Specification of hedonic regressions: Non-nested tests on measures of neighborhood qualityJournal of Urban Economics, 27
K. Gawande, H. Jenkins‐Smith (2001)
Nuclear Waste Transport and Residential Property Values: Estimating the Effects of Perceived RisksJournal of Environmental Economics and Management, 42
Christopher Leggett, N. Bockstael (2000)
EVIDENCE OF THE EFFECTS OF WATER QUALITY ON RESIDENTIAL LAND PRICESJournal of Environmental Economics and Management, 39
E. McPherson (1992)
Accounting for benefits and costs of urban greenspaceLandscape and Urban Planning, 22
M. Fogarty (1982)
The determinants of residential succession with renewal effectsJournal of Urban Economics, 11
R. Just, S. Netanyahu (1998)
Conflict and cooperation on trans-boundary water resources.
J. Geoghegan (2002)
The value of open spaces in residential land useLand Use Policy, 19
S. Gabriel, J. Wolch (1984)
Spillover effects of human service facilities in a racially segmented housing marketJournal of Urban Economics, 16
This paper presents spatially explicit analyses of the greenspace contribution to residential property values in a hedonic model. The paper utilizes data from the housing market near downtown Los Angeles. We first used a standard hedonic model to estimate greenspace effects. Because the residuals were spatially autocorrelated, we implemented a spatial lag model as indicated by specification tests. Our results show that neighborhood greenspace at the immediate vicinity of houses has a significant impact on house prices even after controlling for spatial autocorrelation. The different estimation results from non-spatial and spatial models provide useful bounds for the greenspace effect. Greening of inner city areas may provide a valuable policy instrument for elevating depressed housing markets in those areas.
The Journal of Real Estate Finance and Economics – Springer Journals
Published: Nov 4, 2008
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.