Valuing access to urban greenspace using non-linear distance decay in hedonic property pricing

نویسندگان

چکیده

Modelling walking distance enables the observation of non-linearities in hedonic property pricing accessibility to greenspace. We test a penalized spline spatial error model (PS-SEM), which has two distinctive features. First, PS-SEM controls for presence spatially autocorrelated term. Second, allows continuous non-linear decay price premium as function greenspaces. As result, compared with traditional econometric methods, advantage that data determines functional form implicit greenspace accessibility. Our results from Oslo, Norway, suggest access is highly distance, varying different types caution against using simple linear distances and assumptions log or stepwise buffer-based prices relative pedestrian network urban amenities. The observed heterogeneity also provides general non-spatial models when aggregating values amenities policy analysis ecosystem accounting purposes.

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ژورنال

عنوان ژورنال: Ecosystem services

سال: 2022

ISSN: ['2212-0416']

DOI: https://doi.org/10.1016/j.ecoser.2021.101394