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Environmental Spillovers and their Impacts on Housing Prices: A Spatial Hedonic Analysis

Author

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  • Masha Maslianskaïa-Pautrel
  • Catherine Baumont

Abstract

This paper investigates the spatial dimension of environmental factors on housing prices. We develop spatial hedonic models to estimate the implicit prices of various environmental attributes. The spatial dimension can be interpreted in terms of local or global spillovers. We conduct an empirical study in the Loire estuary (France). We focus on natural areas and more artificialized ones (ocean frontage, wetlands, rivers, and noisy roads). We show that, depending on the spatial model used, the implicit price is more than just the estimated coefficient value and combines both a feedback effect and a propagation effect.

Suggested Citation

  • Masha Maslianskaïa-Pautrel & Catherine Baumont, 2016. "Environmental Spillovers and their Impacts on Housing Prices: A Spatial Hedonic Analysis," Revue d'économie politique, Dalloz, vol. 126(5), pages 921-945.
    • Handle: RePEc:cai:repdal:redp_265_0921
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    Citations

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    Cited by:

    1. Osseni, Abdel & Bareille, Francois & DUPRAZ, Pierre, 2018. "Decoupling Values Of Agricultural Externalities According To Scale: A Spatial Hedonic Approach In Brittany," 2018 Annual Meeting, August 5-7, Washington, D.C. 273998, Agricultural and Applied Economics Association.
    2. Dupraz, P. & Osseni, A. & Bareille, F., 2018. "Assessing the direct and indirect impacts of breeding activities on residential values: a spatial hedonic approach in Brittany," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 276994, International Association of Agricultural Economists.
    3. vom Hofe, Rainer & Mihaescu, Oana & Boorn, Mary Lynne, 2017. "Do urban parks really benefit homeowners economically? Evidence from a spatial hedonic study of the Cincinnati park system," HUI Working Papers 122, HUI Research.

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