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How Do Homebuyers Value Different Types of Green Space?

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  • Bark, Rosalind H.
  • Osgood, Daniel E.
  • Colby, Bonnie G.
  • Halper, Eve B.

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.

Suggested Citation

  • Bark, Rosalind H. & Osgood, Daniel E. & Colby, Bonnie G. & Halper, Eve B., 2011. "How Do Homebuyers Value Different Types of Green Space?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 36(2), pages 1-21, August.
    • Handle: RePEc:ags:jlaare:117210
    DOI: 10.22004/ag.econ.117210
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    References listed on IDEAS

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    1. Bark, R.H. & Osgood, D.E. & Colby, B.G. & Katz, G. & Stromberg, J., 2009. "Habitat preservation and restoration: Do homebuyers have preferences for quality habitat?," Ecological Economics, Elsevier, vol. 68(5), pages 1465-1475, March.
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    4. Acharya, Gayatri & Bennett, Lynne Lewis, 2001. "Valuing Open Space and Land-Use Patterns in Urban Watersheds," The Journal of Real Estate Finance and Economics, Springer, vol. 22(2-3), pages 221-237, March-May.
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    Cited by:

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    3. Rob Roggema & Nico Tillie & Greg Keeffe, 2021. "Nature-Based Urbanization: Scan Opportunities, Determine Directions and Create Inspiring Ecologies," Land, MDPI, vol. 10(6), pages 1-30, June.
    4. Parvin Mahmoudi & Darla Hatton MacDonald & Neville D. Crossman & David M. Summers & John van der Hoek, 2013. "Space matters: the importance of amenity in planning metropolitan growth," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 57(1), pages 38-59, January.
    5. Mahmoudi, Parvin & MacDonald, Darla Hatton & Crossman, Neville D. & Summers, David M. & van der Hoek, John, 2013. "Space matters: the importance of amenity in planning metropolitan growth," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 57(1), pages 1-22.
    6. Juan Tu & Feng Qiu & Meng Yang, 2022. "Investigation of Whether People Are Willing to Pay a Premium for Living in Food Swamps: A Study of Edmonton, Canada," Sustainability, MDPI, vol. 14(10), pages 1-17, May.
    7. Jay Mittal, 2017. "Valuing Visual Accessibility of Scenic Landscapes in a Single Family Housing Market: A Spatial Hedonic Approach," ERES eres2017_1, European Real Estate Society (ERES).
    8. Amy Freitag & Heidi Burkart & Chloe S Fleming & Seann D Regan, 2022. "Creating a quantitative, ecosystem-service-based index of nature in the highly urbanized and arid Los Angeles County," Environment and Planning B, , vol. 49(1), pages 304-320, January.
    9. Jay Mittal & Sweta Byahut, 2019. "Scenic landscapes, visual accessibility and premium values in a single family housing market: A spatial hedonic approach," Environment and Planning B, , vol. 46(1), pages 66-83, January.
    10. Fan, Yubing & McCann, Laura & Qin, Hua, 2017. "Households’ Adoption of Drought Tolerant Plants: An Adaptation to Climate Change?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 42(2), May.
    11. Radosław Trojanek, 2016. "The impact of green areas on dwelling prices: the case of Poznań city," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 4(2), pages 27-35.

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