Assessing Impact of Freshwater Lake Ecosystem on Residential Property Prices using Hedonic Property Pricing approach: Evidence from Vellayanilake of Kerala

2020 ◽  
pp. 125-130
Keyword(s):  
Economic Effect ◽  
Lake Ecosystem ◽  
Aesthetic Value ◽  
Market Prices ◽  
Scenic Beauty ◽  
Property Prices ◽  
Property Price ◽  
Valuation Technique ◽  
Hedonic Property ◽  
The Impact

ABSTRACT The ecosystem services provided by wetlands can be direct or indirect. The direct services can be mostly valued through market prices, but the indirect service like aesthetic beauty and its impact on property prices surrounding the natural resource cannot be directly measured. To single out the economic effect of particular amenity which influenced the land property prices, the advanced valuation technique Hedonic property pricing was most popularly used. In this study, it was attempted to assess using the hedonic property pricing technique, the impact of the presence of the freshwater body, the Vellayani Lake on land property prices surrounding it. The results revealed that the marginal implicit price of getting one cent of land with lake view evaluated at mean property price of Rs. 2,44250 was Rs.79171. The total aesthetic value of land with the scenic beauty of the lake was Rs. 275.92 crores.

scholarly journals THE IMPACT OF PRICING STRATEGIES ON TIME-ON-MARKET UNDER VARIOUS ECONOMIC CONDITIONS / KAINODAROS STRATEGIJŲ POVEIKIS PARDAVIMO TRUKMEI ĮVAIRIOMIS EKONOMINĖMIS SĄLYGOMIS

2012 ◽  
Vol 16 (1) ◽  
pp. 56-70 ◽  
Author(s):  
Eddie C. M. Hui ◽  
Ka Hung Yu
Keyword(s):  
Economic Conditions ◽  
Pricing Strategies ◽  
Sale Price ◽  
Price Adjustments ◽  
Property Prices ◽  
Economic Downturns ◽  
Property Price ◽  
Housing Attributes ◽  
The Impact ◽  
List Prices

This study examines how price adjustments in a flat's marketing phase, along with various housing attributes, influence its time-on-market (TOM). A Cox survival model is used for the analysis of two separate periods, one of economic downturns (2003) and one of economic recovery (2004–2006), in Hong Kong. Factors such as price adjustments, sale price, numerous housing attributes, general property price trend, and changes in unemployment rate have significant impacts on TOM, with their respective impacts changing over time. Specifically, the effectiveness of raising list prices before transactions, in optimizing sellers’ returns and TOM, depends on economic conditions as well as on the market expectations regarding future property prices. Directions on future studies are then discussed. Santrauka Straipsnyje nagrinėjama, kaip parduodamo buto pardavimo trukmę (angl. time-on-market, TOM) veikia kainų koregavimas ir įvairūs būsto ypatumai. Taikant Kokso išgyvenimo modelį analizuojami du atskiri laikotarpiai Honkongo pavyzdžiu: ekonominių nuosmukių (2003) ir ekonominio atsigavimo (2004–2006). Nemenką įtaką pardavimo trukmei daro tokie veiksniai, kaip kainų koregavimas, pardavimo kaina, daugybė būsto ypatumų, bendros NT kainų tendencijos ir nedarbo lygio pokyčiai, o jų poveikis laikui bėgant kinta. Nuo ekonominių sąlygų ir rinkos lūkesčių būsimų NT kainų atžvilgiu ypač priklauso kainų didinimo, prieš sudarant sandorius, efektyvumas, siekiant optimizuoti pardavėjų grąžą ir pardavimo trukmę. Darbe aptariamos būsimų tyrimų kryptys.

scholarly journals Spatial Variability of the ‘Airbnb Effect’: A Spatially Explicit Analysis of Airbnb's impact on Housing Prices in Sydney

2021 ◽  
Author(s):  
William Thackway ◽  
Matthew Kok Ming Ng ◽  
Chyi Lin Lee ◽  
Vivien Shi ◽  
Christopher Pettit
Keyword(s):  
Housing Market ◽  
Housing Prices ◽  
Property Valuation ◽  
Valuation Model ◽  
Price Impacts ◽  
Property Price ◽  
Explicit Analysis ◽  
Hedonic Property ◽  
The Impact ◽  
The City

Over the last decade, the emergence and significant growth of home sharing platforms such as Airbnb has coincided with rising housing unaffordability in many global cities. It is in this context that we look to empirically assess the impact of Airbnb on housing prices in Sydney - one of the least affordable cities in the world. Employing a hedonic property valuation model, our results indicate that Airbnb’s overall effect is positive. A 1% increase in Airbnb density is associated with approximately a 2% increase in property sales price. However, recognising that Airbnb’s effect is geographically uneven and given the fragmented nature of Sydney’s housing market, we also employ a GWR to account for the spatial variation in Airbnb activity. The findings confirm that Airbnb’s influence on housing prices is varied across the city. Sydney’s northern beaches and parts of western Sydney experience a statistically significant value uplift attributable to Airbnb activity. However, traditional tourist locations focused around Sydney’s CBD and the eastern suburbs experience insignificant or negative property price impacts. The results highlight the need for policymakers to consider local Airbnb and housing market contexts when deciding the appropriate level and design of Airbnb regulation.

scholarly journals Spatial Variability of the ‘Airbnb Effect’: A Spatially Explicit Analysis of Airbnb’s Impact on Housing Prices in Sydney

2022 ◽  
Vol 11 (1) ◽  
pp. 65
Author(s):  
William Thomas Thackway ◽  
Matthew Kok Ming Ng ◽  
Chyi-Lin Lee ◽  
Vivien Shi ◽  
Christopher James Pettit
Keyword(s):  
Housing Market ◽  
Housing Prices ◽  
Property Valuation ◽  
Valuation Model ◽  
Price Impacts ◽  
Property Price ◽  
Explicit Analysis ◽  
Hedonic Property ◽  
The Impact ◽  
The City

Over the last decade, the emergence and significant growth of home-sharing platforms, such as Airbnb, has coincided with rising housing unaffordability in many global cities. It is in this context that we look to empirically assess the impact of Airbnb on housing prices in Sydney—one of the least affordable cities in the world. Employing a hedonic property valuation model, our results indicate that Airbnb’s overall effect is positive. A 1% increase in Airbnb density is associated with approximately a 2% increase in property sales price. However, recognizing that Airbnb’s effect is geographically uneven and given the fragmented nature of Sydney’s housing market, we also employ a GWR to account for the spatial variation in Airbnb activity. The findings confirm that Airbnb’s influence on housing prices is varied across the city. Sydney’s northern beaches and parts of western Sydney experience a statistically significant value uplift attributable to Airbnb activity. However, traditional tourist locations focused around Sydney’s CBD and the eastern suburbs experience insignificant or negative property price impacts. The results highlight the need for policymakers to consider local Airbnb and housing market contexts when deciding the appropriate level and design of Airbnb regulation.

A novel hedonic price modelling approach for estimating the impact of transportation infrastructure on property prices

Urban Studies ◽  
2019 ◽  
Vol 58 (1) ◽  
pp. 182-202 ◽  
Author(s):  
Scott N Lieske ◽  
Ryan van den Nouwelant ◽  
Jung Hoon Han ◽  
Christopher Pettit
Keyword(s):  
Urban Design ◽  
Property Values ◽  
Transport Infrastructure ◽  
Geographic Scale ◽  
Spatial Error ◽  
Train Station ◽  
Property Prices ◽  
Property Price ◽  
Design Characteristics ◽  
The Impact

Hedonic estimations of the effect of transport infrastructure on property prices vary widely. This high variability demonstrates a deficit in our understanding of these relationships, limits the utility of econometrics for the valuation of urban property markets, and limits the development and implementation of effective and fair market-based policy tools. Several avenues may lead to improved consistency: re-consideration of accessibility, inclusion of urban design characteristics, assessment of spatial dependence and spatial heterogeneity, and consideration of geographic scale. This paper outlines the rationale and opportunities for inclusion of, and presents empirical tests for, these assertions using a case study in western Sydney, Australia. Results show a number of urban design characteristics to be significant determinants of residential property price. Street connectivity and higher density in areas surrounding residences negatively impact price, higher density close to train stations positively impacted price in one model. Park-and-ride stations led to decreases in property values. Smaller study area results indicate a nonlinear relationship between distance to train station and property price and a disamenity impact for residences within 400 m of train stations. Relative accessibility measured as frequency of peak hour trains is a significant and positive determinant of price in the larger study area. Incorporation of a price trend surface and estimation using a spatial error model reduce the extent to which spatial autocorrelation overstates the effect of a train station on prices. These conceptual and empirical improvements further develop our understanding of the effect of transport infrastructure on property values.

scholarly journals A Comprehensive Review of the Evidence of the Impact of Surface Water Quality on Property Values

2018 ◽  
Vol 10 (2) ◽  
pp. 500 ◽  
Author(s):  
Sarah Nicholls ◽  
John Crompton
Keyword(s):  
Water Quality ◽  
Property Values ◽  
Surface Water Quality ◽  
Convincing Evidence ◽  
The Body ◽  
Tax Base ◽  
Property Prices ◽  
Property Price ◽  
The Impact ◽  
Positive Effect

The desirability of living on or close to water is reflected in sometimes substantial property price premiums. Water quality has an important influence on property prices, since it impacts a water body’s appearance, capacity to support wildlife, and recreational potential. As water quality continues to be altered by human use and activity, and in light of new threats posed by projected climate and associated environmental change, understanding the impact of changing quality on property prices, and the associated property tax base, is paramount. This paper reviews the body of evidence on this topic to date. Of the 43 distinct studies represented in the 48 publications reviewed, the expected, statistically significant relationship between water quality and property price was demonstrated in at least one of the models developed in all but two studies. As a whole, they provide convincing evidence that clean water has a positive effect on property values.

scholarly journals Municipal assessments versus actual sales prices in hedonic price studies

2015 ◽  
Vol 8 (1) ◽  
pp. 35-46
Author(s):  
Mario Du Preez ◽  
Michael Sale
Keyword(s):  
Seemingly Unrelated Regression ◽  
Hedonic Price ◽  
Property Value ◽  
Market Prices ◽  
Sales Price ◽  
Model Studies ◽  
Hedonic Price Models ◽  
Property Prices ◽  
Unrelated Regression ◽  
Property Price

In most hedonic price model studies, the actual sales price of a property is employed as the dependent variable in the parametric regression analysis. Although the use of this price is pervasive, alternatives to it do exist. One such alternative is the assessed property value, which is more readily available than the actual property price. The aim of this study is to compare implicit price estimates of property characteristics (both structural and locational) based on actual sales price data and assessed property values. To this end, a seemingly unrelated regression with two hedonic price equations is used, one which employs actual market prices as the dependent variable and the other which employs assessed values. The results show that the hypothesised influence of structural and locational housing characteristics on residential property prices is the same for assessed values, and actual market prices cannot be accepted. This finding should act as a caution for hedonic practitioners not to base their conclusions and recommendations solely on the use of assessed values in hedonic price models.

scholarly journals Effect of Storage Conditions on Storability and Antioxidant Potential of Pears cv. ‘Conference’

Agriculture ◽  
2021 ◽  
Vol 11 (6) ◽  
pp. 545
Author(s):  
Grzegorz P. Łysiak ◽  
Krzysztof Rutkowski ◽  
Dorota Walkowiak-Tomczak
Keyword(s):  
Mass Loss ◽  
Strong Influence ◽  
Storage Conditions ◽  
Quality Parameters ◽  
Soluble Solids ◽  
Controlled Atmosphere ◽  
Postharvest Diseases ◽  
Market Prices ◽  
Long Period ◽  
The Impact

Late pear cultivars, such as ‘Conference’, can be stored for a long period if kept in good storage conditions. A three-year study (2011–2013) compared the impact of six-month storage using four technologies—normal atmosphere, normal atmosphere + 1-methylcyclopropene (1-MCP), controlled atmosphere, and controlled atmosphere + 1-MCP—on the quality parameters of ‘Conference’ pears, such as mass loss, firmness, total soluble solids, acidity, antioxidant capacity, and the incidence of diseases and disorders. Additionally, the study analysed different storage conditions in terms of profitability, based on the market prices for pears in the seasons during which the pears were stored. The storage conditions had a very strong influence on the fruit quality parameters, and were found to affect most visibly the mass loss and the incidence of postharvest diseases and disorders. The storage of ‘Conference’ pears for 180 days in normal atmosphere is not economically viable, even if the fruit is subjected to 1-MCP treatment; at the same time, it is profitable to store ‘Conference’ pears in controlled atmosphere for the same period, no matter whether 1-MCP was applied or not.

An Analysis of The Impact of Short-Term Vacation Rentals on the Hotel Industry

2021 ◽  
pp. 109634802110191
Author(s):  
Jungtae Soh ◽  
Kwanglim Seo
Keyword(s):  
Economic Effect ◽  
Hotel Industry ◽  
Price Difference ◽  
Multiple Sources ◽  
Short Term ◽  
Hotel Performance ◽  
Negative Effect ◽  
Research Gap ◽  
The Impact ◽  
Scholarly Attention

Much scholarly attention has been paid to Airbnb’s influence on the hotel industry. However, extant studies have limitations because they consider only Airbnb while overlooking various other short-term vacation rental players that can also affect performance of hotels. To address this research gap, this study aims to provide a broader understanding of the impacts of short-term vacation rentals by analyzing data obtained from various vacation rental platforms. This study shows that while increase in short-term vacation rentals has an overall negative effect on hotel performance, the economic effect is more significant in the low-end market than in the high-end market. Our findings further reveal that the negative effect is reduced when there is a large price difference between short-term vacation rentals and hotels. By comprehensively examining multiple sources of data on hotels and vacation rentals, this study brings alternative perspectives to the attention of researchers for further investigation of vacation rentals.

Sign in / Sign up

Export Citation Format

Share Document