The Landscape from Home : a GIS-based hedonic price valuation

The Landscape from Home : a GIS-based hedonic price valuation

[SHS:GEO] Humanities and Social Sciences/Geography

We estimate the hedonic price of landscape seen from houses in the urban fringe of Dijon (France). The viewshed and the land cover as seen from the ground are analyzed by geographic methods from satellite images and from a digital elevation model. The landscape attributes are then used in an econometric model based on the sales of 2667 houses, which deals with endogeneity, multicollinearity, and spatial correlations. The results show that woodland and farmland in the immediate vicinity of houses have positive prices and roads a negative price when these features can be seen by an observer located on the ground, while those prices are clearly lower (or insignificant) when such features cannot be seen: the view itself matters. The arrangement of features in fragmented landscapes commands positive hedonic prices. Landscapes and objects seen more than 100-300 m away all have insignificant hedonic prices.

Cavailhès, Jean

Brossard, Thierry

Foltete, Jean-Christophe

Hilal, Mohamed

Joly, Daniel

Tourneux, François-Pierre

Tritz, Céline

Wavresky, Pierre

International Symposium "Hedonic Methods in Real Estate"

International Symposium "Hedonic Methods in Real Estate"

2007

ENG

conference proceeding

http://hal.archives-ouvertes.fr/hal-00767204

http://hal.archives-ouvertes.fr/docs/00/76/72/04/PDF/CavailhA_s_J._The_landscape_from_home.pdf

Genève

Switzerland