Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.ecolecon.2018.03.012 |
Tropical Vegetation and Residential Property Value: A Hedonic Pricing Analysis in Singapore | |
Belcher, Richard N.1,2; Chisholm, Ryan A.1 | |
2018-07-01 | |
发表期刊 | ECOLOGICAL ECONOMICS |
ISSN | 0921-8009 |
EISSN | 1873-6106 |
出版年 | 2018 |
卷号 | 149页码:149-159 |
文章类型 | Article |
语种 | 英语 |
国家 | Singapore |
英文摘要 | Effective urban planning depends on knowing homebuyers' preferences for neighbourhood features that provide different amenities, such as managed parks and trees. As the expansion of tropical urban areas into biodiversity hotspots is predicted to more than double by 2030, knowing homebuyers utility from different vegetation types can contribute to global biodiversity conservation strategies. We used the hedonic pricing method to estimate the economic value of managed, spontaneous and high conservation value vegetation to Singapore public housing using a mixed effects model. On average vegetation had positive effects on property selling price, accounting for 3% of the average property's value, or a total of S$179 million for all public housing apartments sold over 13 months. These effects were almost entirely driven by managed vegetation, which had positive marginal effects on price for 98.1% of properties. The estimated marginal effects of high conservation value vegetation were mostly negative (90.5%% properties), but positive for properties without much managed vegetation nearby. The estimated marginal effects of spontaneous vegetation were mixed and mostly small. To reconcile the goals of protecting high conservation value vegetation and maximising homeowner utility, new public housing developments should contain more managed vegetation but be away from high conservation value vegetation. |
英文关键词 | Hedonic pricing Tropical vegetation Ecosystem service valuation Urban planning Tropical city state Public housing |
领域 | 资源环境 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000433014500015 |
WOS关键词 | URBAN GREEN SPACE ; ECOSYSTEM SERVICES ; HOUSING PRICES ; AMENITY VALUE ; SPATIAL DEPENDENCE ; PHYSICAL-ACTIVITY ; TREE COVER ; MODELS ; LANDSCAPE ; BENEFITS |
WOS类目 | Ecology ; Economics ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Environmental Sciences & Ecology ; Business & Economics |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/15586 |
专题 | 资源环境科学 |
作者单位 | 1.Natl Univ Singapore, Dept Biol Sci, Singapore 117543, Singapore; 2.Singapore ETH Ctr, Future Cities Lab, ETH Zurich, Singapore, Singapore |
推荐引用方式 GB/T 7714 | Belcher, Richard N.,Chisholm, Ryan A.. Tropical Vegetation and Residential Property Value: A Hedonic Pricing Analysis in Singapore[J]. ECOLOGICAL ECONOMICS,2018,149:149-159. |
APA | Belcher, Richard N.,&Chisholm, Ryan A..(2018).Tropical Vegetation and Residential Property Value: A Hedonic Pricing Analysis in Singapore.ECOLOGICAL ECONOMICS,149,149-159. |
MLA | Belcher, Richard N.,et al."Tropical Vegetation and Residential Property Value: A Hedonic Pricing Analysis in Singapore".ECOLOGICAL ECONOMICS 149(2018):149-159. |
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