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Estimation of the Influence of View Components on High-Rise Apartment Pricing Using a Public Survey and GIS Modeling

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  • Ian D Bishop

    (Department of Geomatics, The University of Melbourne, Parkville, Victoria 3010, Australia)

  • Eckart Lange

    (Institute for Spatial and Landscape Planning, Swiss Federal Institute of Technology (ETH), 8093 Zurich, Switzerland)

  • Alani Muhammad Mahbubul

    (Department of Geomatics, The University of Melbourne, Parkville, Victoria 3010, Australia)

Abstract

A growing trend towards high-density urban living increases the significance of natural features within the urban fabric. In high-rise living the view is one means of continuing contact with the environment. Using visualizations, public survey techniques, and a geographic information system (GIS), we estimate the effect of parks, water, industry, and high-rise buildings on willingness to pay for views from high-level apartments. With the GIS we determine what will be visible within the view and the proportion of different land uses or structures that make up the view. In order to link the analytical variables to the view values a set of base images is systematically altered in terms of the proportion of water, parks, buildings, and industry present in the scenes. Surveys are conducted to determine the willingness of people to pay for preferred views. The results from a regression analysis show that water and green space have positive coefficients and buildings and industry both have negative coefficients. Particular attention is paid to the influence of distance on the view proportions. Our calculations are compared with empirical results from other studies.

Suggested Citation

  • Ian D Bishop & Eckart Lange & Alani Muhammad Mahbubul, 2004. "Estimation of the Influence of View Components on High-Rise Apartment Pricing Using a Public Survey and GIS Modeling," Environment and Planning B, , vol. 31(3), pages 439-452, June.
    • Handle: RePEc:sae:envirb:v:31:y:2004:i:3:p:439-452
    DOI: 10.1068/b3042
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    References listed on IDEAS

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    1. Guy Garrod & Kenneth G. Willis, 1999. "Economic Valuation of the Environment," Books, Edward Elgar Publishing, number 1368.
    2. Robert W. Paterson & Kevin J. Boyle, 2002. "Out of Sight, Out of Mind? Using GIS to Incorporate Visibility in Hedonic Property Value Models," Land Economics, University of Wisconsin Press, vol. 78(3), pages 417-425.
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    Cited by:

    1. Mulley, Corinne & Ma, Liang & Clifton, Geoffrey & Yen, Barbara & Burke, Matthew, 2016. "Residential property value impacts of proximity to transport infrastructure: An investigation of bus rapid transit and heavy rail networks in Brisbane, Australia," Journal of Transport Geography, Elsevier, vol. 54(C), pages 41-52.
    2. Margaret Walls & Carolyn Kousky & Ziyan Chu, 2015. "Is What You See What You Get? The Value of Natural Landscape Views," Land Economics, University of Wisconsin Press, vol. 91(1), pages 1-19.

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