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Estimating Economic Values of Meadows and Grazings using Hedonic Housing Modeling and GIS

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Abstract

This paper uses the hedonic housing model to assess economic values to high value meadows and grazings located in rural settings. The hypothesis is that residential purchase prices include premiums for properties located in the surrounding areas of such environments. The dataset consist of 7565 property transactions sold during the period 1977-2007. The main findings are that houses located in the immediate surrounding area of these lands were on average 2.6 per cent more expensive which implies that the size of the premium approximately equals €3200 for these properties.

Suggested Citation

  • Juusola, Pia, 2009. "Estimating Economic Values of Meadows and Grazings using Hedonic Housing Modeling and GIS," CISEG Working Papers Series 5, Jönköping International Business School, Centre for Innovation Systems, Entrepreneurship and Growth.
    • Handle: RePEc:hhs:hjiseg:0005
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    File URL: http://www.ihh.hj.se/ciseg/documents/CISEG-WP-No-5.pdf
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    More about this item

    Keywords

    Hedonic housing; Geographic information systems; Meadows; Grazings;
    All these keywords.

    JEL classification:

    • Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

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