IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v14y2022i24p16613-d1000667.html
   My bibliography  Save this article

Influence of the Urban Green Spaces of Seville (Spain) on Housing Prices through the Hedonic Assessment Methodology and Geospatial Analysis

Author

Listed:
  • Emilio Ramírez-Juidías

    (Instituto Universitario de Arquitectura y Ciencias de la Construcción (IUACC), Universidad de Sevilla, 2 Reina Mercedes Avenue, 41012 Seville, Spain)

  • José-Lázaro Amaro-Mellado

    (Departamento de Ingeniería Gráfica, Universidad de Sevilla, 41092 Seville, Spain
    Instituto Geográfico Nacional-Servicio Regional en Andalucía, 41013 Seville, Spain)

  • Jorge Luis Leiva-Piedra

    (Laboratorio de Investigación en Teledetección, Universidad Tecnológica del Perú, Intersección Avenida El Progreso s/n-Vía de Evitamiento, Chiclayo 14001, Peru)

Abstract

The city of Seville (Spain) is made up of a historical network of pre-existing city overlaps, which increase the economic and heritage value of certain urban areas. To date, green spaces are one of the most important variables in determining the economic value of housing. Thus, this paper uses the hedonic technique and geostatistical analysis with GIS as a methodological approach to infer the economic influence of urban green spaces on housing prices. Along with the traditional variables used to explain dwelling prices, the size of the green space has also been taken into account as an environmental variable affecting prices. The sample consists of 1000 observations collected from Seville. According to the findings, the most relevant variables depend on the hedonic model. Still, in general terms, a dwelling’s selling price is related to basic explanatory variables such as living area, number of rooms, age, and number of baths. The green area per inhabitant present in a dwelling’s district is also included as part of these basic explanatory variables. In conclusion, the hedonic linear model is the model that best fits housing prices where the values are similar to those obtained by kriging regardless of the district. Based on this research, each square meter of green space per inhabitant in a district raises the housing value by 120.19 €/m 2 .

Suggested Citation

  • Emilio Ramírez-Juidías & José-Lázaro Amaro-Mellado & Jorge Luis Leiva-Piedra, 2022. "Influence of the Urban Green Spaces of Seville (Spain) on Housing Prices through the Hedonic Assessment Methodology and Geospatial Analysis," Sustainability, MDPI, vol. 14(24), pages 1-15, December.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:24:p:16613-:d:1000667
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/14/24/16613/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/14/24/16613/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Shruti Lahoti & Mohamed Kefi & Ashish Lahoti & Osamu Saito, 2019. "Mapping Methodology of Public Urban Green Spaces Using GIS: An Example of Nagpur City, India," Sustainability, MDPI, vol. 11(7), pages 1-23, April.
    2. Miguel Ángel Solano-Sánchez & José António C. Santos & Margarida Custódio Santos & Manuel Ángel Fernández-Gámez, 2021. "Holiday Rentals in Cultural Tourism Destinations: A Comparison of Booking.com-Based Daily Rate Estimation for Seville and Porto," Economies, MDPI, vol. 9(4), pages 1-16, October.
    3. Moore, Michael R. & Doubek, Jonathan P. & Xu, Hui & Cardinale, Bradley J., 2020. "Hedonic Price Estimates of Lake Water Quality: Valued Attribute, Instrumental Variables, and Ecological-Economic Benefits," Ecological Economics, Elsevier, vol. 176(C).
    4. Polixeni Iliopoulou & Elissavet Feloni, 2022. "Spatial Modelling and Geovisualization of House Prices in the Greater Athens Region, Greece," Geographies, MDPI, vol. 2(1), pages 1-21, February.
    5. Wu, Chao & Du, Yihao & Li, Sheng & Liu, Pengyu & Ye, Xinyue, 2022. "Does visual contact with green space impact housing pricesʔ An integrated approach of machine learning and hedonic modeling based on the perception of green space," Land Use Policy, Elsevier, vol. 115(C).
    6. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    7. Philip Stessens & Frank Canters & Marijke Huysmans & Ahmed Z. Khan, 2020. "Urban green space qualities: An integrated approach towards GIS-based assessment reflecting user perception," ULB Institutional Repository 2013/298795, ULB -- Universite Libre de Bruxelles.
    8. Du, Mengbing & Zhang, Xiaoling, 2020. "Urban greening: A new paradox of economic or social sustainability?," Land Use Policy, Elsevier, vol. 92(C).
    9. José L Oviedo & Pablo Campos & Alejandro Caparrós, 2022. "Contingent valuation of landowner demand for forest amenities: application in Andalusia, Spain," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 49(3), pages 615-643.
    10. Glumac, Brano & Herrera-Gomez, Marcos & Licheron, Julien, 2019. "A hedonic urban land price index," Land Use Policy, Elsevier, vol. 81(C), pages 802-812.
    11. Randy E. Dumm & Charles Nyce & G. Stacy Sirmans & Greg T. Smersh, 2022. "Pricing Moral Hazard in Residential Properties: The Impact of Sinkhole Claims on House Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 64(1), pages 30-70, January.
    12. Dao, Phong B., 2022. "Condition monitoring and fault diagnosis of wind turbines based on structural break detection in SCADA data," Renewable Energy, Elsevier, vol. 185(C), pages 641-654.
    13. Łaszkiewicz, Edyta & Heyman, Axel & Chen, Xianwen & Cimburova, Zofie & Nowell, Megan & Barton, David N, 2022. "Valuing access to urban greenspace using non-linear distance decay in hedonic property pricing," Ecosystem Services, Elsevier, vol. 53(C).
    14. Lee, Brian & Wang, Szu-Yung & Lin, Tzu-Chin & Chang, Hung-Hao, 2021. "Underground pipeline explosions and housing prices: Quasi-experimental evidence from an urban city," Land Use Policy, Elsevier, vol. 111(C).
    15. Touseef Hussain & Jaffar Abbas & Zou Wei & Mohammad Nurunnabi, 2019. "The Effect of Sustainable Urban Planning and Slum Disamenity on The Value of Neighboring Residential Property: Application of The Hedonic Pricing Model in Rent Price Appraisal," Sustainability, MDPI, vol. 11(4), pages 1-20, February.
    16. Yi-Ya Hsu & Scott Hawken & Samad Sepasgozar & Zih-Hong Lin, 2022. "Beyond the Backyard: GIS Analysis of Public Green Space Accessibility in Australian Metropolitan Areas," Sustainability, MDPI, vol. 14(8), pages 1-25, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Senhong Cai & Zhonghua Gou, 2023. "Are Green Spaces More Available and Accessible to Green Building Users? A Comparative Study in Texas," Land, MDPI, vol. 12(1), pages 1-20, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cyprian Chwiałkowski & Adam Zydroń, 2021. "Socio-Economic and Spatial Characteristics of Wielkopolski National Park: Application of the Hedonic Pricing Method," Sustainability, MDPI, vol. 13(9), pages 1-17, April.
    2. David Wolf & Sathya Gopalakrishnan & H. Allen Klaiber, 2022. "Staying afloat: The effect of algae contamination on Lake Erie housing prices," American Journal of Agricultural Economics, John Wiley & Sons, vol. 104(5), pages 1701-1723, October.
    3. Potrawa, Tomasz & Tetereva, Anastasija, 2022. "How much is the view from the window worth? Machine learning-driven hedonic pricing model of the real estate market," Journal of Business Research, Elsevier, vol. 144(C), pages 50-65.
    4. Renan Almeida & Marcelo Brandão & Ramon Torres & Pedro Patrício & Pedro Amaral, 2021. "An assessment of the impacts of large‐scale urban projects on land values: The case of Belo Horizonte, Brazil," Papers in Regional Science, Wiley Blackwell, vol. 100(2), pages 517-559, April.
    5. Zengzheng Wang & Fuhao Zhang & Yangyang Zhao, 2023. "Exploring the Spatial Discrete Heterogeneity of Housing Prices in Beijing, China, Based on Regionally Geographically Weighted Regression Affected by Education," Land, MDPI, vol. 12(1), pages 1-24, January.
    6. Lydia Cheung & Mario Andres Fernandez, 2021. "Changes in Amenity Values after COVID‐19 Lockdowns in Auckland, New Zealand," Economic Papers, The Economic Society of Australia, vol. 40(4), pages 331-350, December.
    7. Cyprian Chwiałkowski & Adam Zydroń & Dariusz Kayzer, 2022. "Assessing the Impact of Selected Attributes on Dwelling Prices Using Ordinary Least Squares Regression and Geographically Weighted Regression: A Case Study in Poznań, Poland," Land, MDPI, vol. 12(1), pages 1-20, December.
    8. Ritter, Matthias & Hüttel, Silke & Odening, Martin & Seifert, Stefan, 2020. "Revisiting the relationship between land price and parcel size in agriculture," Land Use Policy, Elsevier, vol. 97(C).
    9. Lucija Muehlenbachs & Elisheba Spiller & Christopher Timmins, 2015. "The Housing Market Impacts of Shale Gas Development," American Economic Review, American Economic Association, vol. 105(12), pages 3633-3659, December.
    10. Maristella Botticini & Aloysius Siow, 2003. "Why Dowries?," American Economic Review, American Economic Association, vol. 93(4), pages 1385-1398, September.
    11. Guilfoos, Todd & Walsh, Jason, 2023. "A hedonic study of New England dam removals," Ecological Economics, Elsevier, vol. 203(C).
    12. Zhang, Yingjie & Zhang, Tianzheng & Zeng, Yingxiang & Cheng, Baodong & Li, Hongxun, 2021. "Designating National Forest Cities in China: Does the policy improve the urban living environment?," Forest Policy and Economics, Elsevier, vol. 125(C).
    13. Muhammad Rafiq & Mir Kalan Shah, 2010. "The Value of Reduced Risk of Injury and Deaths in Pakistan—Using Actual and Perceived Risk Estimates," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 49(4), pages 823-837.
    14. Annie Tubadji & Peter Nijkamp, 2015. "Cultural impact on regional development: application of a PLS-PM model to Greece," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 54(3), pages 687-720, May.
    15. Kim, Dongsoo & Liu, Feng & Yezer, Anthony, 2009. "Do inter-city differences in intra-city wage differentials have any interesting implications?," Journal of Urban Economics, Elsevier, vol. 66(3), pages 203-209, November.
    16. Gautier, Pieter & van Vuuren, Aico & Siegmann, Arjen, 2007. "The Effect of the Theo van Gogh Murder on House Prices in Amsterdam," CEPR Discussion Papers 6175, C.E.P.R. Discussion Papers.
    17. Bond, Craig A. & Thilmany, Dawn D. & Bond, Jennifer Keeling, 2008. "What to Choose? The Value of Label Claims to Fresh Produce Consumers," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(3), pages 1-26.
    18. Paramita Dhar & Stephen L. Ross, 2009. "School Quality and Property Values: Re-examining the Boundary Approach," Working papers 2009-37, University of Connecticut, Department of Economics, revised May 2010.
    19. Muñoz-Acevedo, Ángela & Grzybowski, Lukasz, 2023. "Impact of roaming regulation on revenues and prices of mobile operators in the EU," International Journal of Industrial Organization, Elsevier, vol. 89(C).
    20. Charlotte Ham & John B. Loomis & Patricia A. Champ, 2015. "Relative Economic Values of Open Space Provided by National Forest and Military Lands to Surrounding Communities," Growth and Change, Wiley Blackwell, vol. 46(1), pages 81-96, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:14:y:2022:i:24:p:16613-:d:1000667. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.