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Determination of Open-green Space's Effect on Around House Prices by Means of Hedonic Price Model; in Example of Ankara/Botanik Park

Year 2013, Volume: 26 Issue: 2, 347 - 361, 05.07.2013

Ayşe Tekel , Leila Akbarıshahabı

Abstract

References

  • Li, Q. CH., “Neighborhood Green Space’s Impact On Residential Property Value: Understanding The Value Of Spatial Effects”, Ph.D Thesis, Faculty Of The USC Graduate School University Of Southern California, California, 205:31-105 (2010).
  • Dwyer, J. F., and McPherson, E. G., and Schroeder, and H. W., and Rowntree, R. W. “Assessing benefits and costs of the urban forest”, Journal of Arboriculture, 18:227-234, (1992).
  • Luley, C. J., “The greening of urban air”, Forum for Applied Research and Public Policy, 13(2): 33-35 (1995). [4] McPherson, E. G., “Accounting for benefits and costs of urban greenspace”, Journal of Landscape and Urban Planning, 22:41-51 (1992).
  • Nowak, D. J., and Civerolo, K. L., and Rao, S. T., & Sistla, G., and Luley, C. J., and Crane, D. E., “A modeling study of the impact of urban trees on ozone”, Journal of Atmospheric Environment, 34:1601-1613 [6] Scott, K. I., and Simpson, J. R., and McPherson, E. G., “Effects of tree cover on parking lot microclimate and vehicle emissions”, Journal of Arboriculture, 25:129-142 (1999).
  • Sherer P.M., “The Benefits of Parks: Why America Needs More City Parks and Open Space”, Published By: The Trust for Pubic Land, San Francisco, 33:13-23 (2003).
  • Crowe, S., “The London/York motorway: A landscape architect’s view”, Architect’s journal, 156, (1959).
  • Tandy, C., “Handbook of Urban Landscape, Park and Open Spaces”, Architectural Press, United Kingdom, 275: 99-144 (1975).
  • Kathleen, L.W., “Public Value of Nature: Economics of Urban Trees, Parks and Open Space” , College of Forest Resources, University of Washington, 8: 89-90 (2004).
  • Bolund, P., and Hunhammar, S.,”Ecosystem services in urban areas. Ecological Economics, 29, 293-301, (1999).
  • Willis, K., Osman, L., “Economic Benefits of Accessible Green Spaces for Physical and Mental Health; Scoping study”, Final report for the Forestry Commission CJCCONSULTING economics environment countryside, 67:20-35 (2005).
  • Walker, Ch., “The Public Value of Urban Parks’, Beyond Recreation A Broader View od Urban Parks”, The Urban Institute& The Wallace Foundation, Washington, 8:3-6 (2004).
  • Fausold, J., an Lilieholm, R.J., “The Economic Benefits of Open Space in Utah”, Institute of Outdoor Recreation and Turism, Urah State University Extention, No. NR/RF/003, U.S.A, (1999).
  • Economy League of Greater Philadelphia ( ELGPH), “The Economic Value of Protected Open Space in Southeastern Pennsylvania”, Econsult Corporation, Keystone
  • Pennsylvania, 95-100, (2010). Trust, First
  • Edition, [16] Relf, D., “Plants Actually Clean the Air” , Extension Specialist,
  • cooperative extension, (1996). Horticulture,
  • Virginia [17] Mansfield, C., and Pattanayak, S.K., and McDow, W., and McDonald, R., and Halpin, P., “Shades of Green: Measuring the Value of Urban Forests in the Housing Market”, Southern Environmental Law Center, Duke University, Research Triangle Institute International, , U.S.A, Working Paper 02-02 (2002).
  • Northwest Regional Development Agency
  • (NWDA), “The economic benefits of green infrastructure – an assessment framework for the NWDA”, AMION
  • Consulting, Silkhouse Court, Northwest, England, 98:14- 39 (2008).
  • Beattie, J.,and Kollin, Ch., & Moll, C., “Trees Help Cities Meet Clean Water Regulations”, American Forests (summer 2000), p. 18, (http://www.americanforests.org/
  • downloads/graytogreen/treeshelpcities.pdf.), Washington, DC, (2000).
  • Dinapoli, Th.P., “Economic Benefits of Open Space Preservation”, Office of The Sate Comptroller, New York, 60-64 (2010).
  • Suparmoko, M., “Economic Valuation for Environmental Goods and Services; Market Price Method”, Faculty of Economics, Budi Luhur University, Jakarta, Indonesia, 16:6-10 (2008).
  • Chi Liao, W., and Wang, X., “ Hedonic house prices and spatial quantile regression”, Journal of Housing
  • Economics, 21:16–27, (2012).
  • Harnik, P., and Welle, B., “Measuring the Economic Value of a City Park System”, Graham Foundation for Advanced Studies in the Fine Arts, Chicago, 28:10-11 (2009).
  • Kaul, S., “Hedonism and Culture: Impact on Shopper Behaviour”, Indian Institute of Management Publication, Ahmedabad, India, 10:4-5 (2006).
  • Selim, S., “Determinatin Of House Prices In
  • Turkey: A Hedonic Regression Model”, Doğuş
  • Üniversitesi Dergisi, İstanbul, 9 (1):65-76(2008).
  • Anton, P. A., “The Economic Value of Open Space; Implications for Land Use Decisions”, Wilder Research,
  • Page 7, Saint Paul, Minnesota, (2005).
  • Rosen, S., “Hedonic prices and implicit markets:
  • product differentiation in pure competition”, Journal of
  • Political Economy, 82 (1), 34–55 (1974).
  • Janssen, C. B., and Soderberg, J. Z., “Robust
  • estimation of hedonic models of prive and income for
  • investment property”, Journal of Property Investment &
  • Finance, 19(4): 342-360, (2001).
  • Cömertler, S., “The Impact Of Pedestrianisation On Residential Property Rental Values”, Ph.D Thesis, A Thesis Submitted to The Graduate School of Engineering and Sciences İzmir Institute of Technology in Partial Fulfillment of the Requirements for the Degree of Doctor Of Philosophy in City Planning, İzmir, 78-80 (2007).
  • Freeman, A. M., “Hedonic prices, property values and measuring environmental benefits: A survey of the issues”, Scandinavian Journal of Economics, 81:154-171, (1979).
  • Chau, K. W. Ng, F. F. and Hung, E. C. T., “Developer's good will as significant influence on apartment unit prices”, Appraisal Journal, 69: 26-34, [32] So, H. M., and Tse, R. Y. C., and Ganesan, S., “Estimating the influence of transport on house prices: Evidence from Hong Kong”, Journal of Property Valuation & Investment, 15(1) 40-47 (1996).
  • Goodman, A. C., “Topics in empirical urban housing research”, Journal of The Economics of Housing Markets, in R. Muth & A. Goodman, Harwood Academic, Chur, Switzerland, 47:49-146, (1989).
  • Williams, A., “A guide to valuing transport externalities by hedonic means”, Transport Review, 11(4): 311-324 (1991).
  • Ball, M., “Recent empirical work of the determinants of relative house prices”, Urban Studies, Centre for Environmental Studies, London, 213-233, (1973).
  • Follain, J. R., and Jimenez, E., “Estimating the
  • demand for housing characteristics, Regional Science and Urban Economics, 15:77-107, (1985).
  • Orford, S., “Valuing location in an urban housing market”, in the Proceedings of the 3rd International Conference on GeoComputation, United Kingdom, University of Bristol, Bristol BS8 1SS. UK., 56-58 (1988).
  • Dubin, R. A., and Sung, C. H., “ Specification of
  • hedonic regressions: Non-nested tests on
  • measures of neighbourhood quality”, Journal
  • of Urban Economics, 27:97-110, (1990).
  • Dusse, N., and Jones, C., “A hedonic price model of office rent”, Journal of Property Valuations and Investment, 16(3): 297-312, (1998).
  • Bolitzer, B., and Netusil, N.R., “The Impact Of Open Spaces On Property Values In Portland, Oregon”, Journal of Environmental Management, Department Of Economics University Of California, Los Angeles, U.S.A, 59(3):185-193, (2000).
  • Luttik J. “The Value of Trees, Water and Open Space As Reflected by House Prices In The Netherlands”, Journal of Landscape and Urban Planning, Alterra, Green World Research, Netherlands, 48 (3- 4):161-167, (2000).
  • Gao, X., and Asami, Y., “Effect of Urban Landscapes on Land Prices in Two Japanese Cities”, Journal of Landscape and Urban Planning, 81:155–166, (2006).
  • Gujarati, Damadar N., Basic Econometrics, (Mc, Grew-Hill, NewYork, 1995.

Determination of Open-green Space's Effect on Around House Prices by Means of Hedonic Price Model; in Example of Ankara/Botanik Park

Year 2013, Volume: 26 Issue: 2, 347 - 361, 05.07.2013

Ayşe Tekel , Leila Akbarıshahabı

Abstract

Urban open green spaces which are an important component of urban area’s uses provide physical and social development for a city and they also collect communal and cultural activities within their. Open green spaces, in addition to be associated with natural life are those spaces that create social and economic values. The aim of this study as an empirical study is to query the economic values created by Ankara/Botanik park. In this study, taking into account the house selling prices nearby the Botanik Park, the impact of distance to the Botanik Park has been evaluated on house prices. Hedonic price model has been employed to examine the relationship between the rate of proximity to the park and the house prices and as a result, increase the price of houses that are close to the Ankara/Botanik Park has been determined.

Keywords

Open-Green Space Hedonic Price Model Economic Value Park Turkey

References

  • Li, Q. CH., “Neighborhood Green Space’s Impact On Residential Property Value: Understanding The Value Of Spatial Effects”, Ph.D Thesis, Faculty Of The USC Graduate School University Of Southern California, California, 205:31-105 (2010).
  • Dwyer, J. F., and McPherson, E. G., and Schroeder, and H. W., and Rowntree, R. W. “Assessing benefits and costs of the urban forest”, Journal of Arboriculture, 18:227-234, (1992).
  • Luley, C. J., “The greening of urban air”, Forum for Applied Research and Public Policy, 13(2): 33-35 (1995). [4] McPherson, E. G., “Accounting for benefits and costs of urban greenspace”, Journal of Landscape and Urban Planning, 22:41-51 (1992).
  • Nowak, D. J., and Civerolo, K. L., and Rao, S. T., & Sistla, G., and Luley, C. J., and Crane, D. E., “A modeling study of the impact of urban trees on ozone”, Journal of Atmospheric Environment, 34:1601-1613 [6] Scott, K. I., and Simpson, J. R., and McPherson, E. G., “Effects of tree cover on parking lot microclimate and vehicle emissions”, Journal of Arboriculture, 25:129-142 (1999).
  • Sherer P.M., “The Benefits of Parks: Why America Needs More City Parks and Open Space”, Published By: The Trust for Pubic Land, San Francisco, 33:13-23 (2003).
  • Crowe, S., “The London/York motorway: A landscape architect’s view”, Architect’s journal, 156, (1959).
  • Tandy, C., “Handbook of Urban Landscape, Park and Open Spaces”, Architectural Press, United Kingdom, 275: 99-144 (1975).
  • Kathleen, L.W., “Public Value of Nature: Economics of Urban Trees, Parks and Open Space” , College of Forest Resources, University of Washington, 8: 89-90 (2004).
  • Bolund, P., and Hunhammar, S.,”Ecosystem services in urban areas. Ecological Economics, 29, 293-301, (1999).
  • Willis, K., Osman, L., “Economic Benefits of Accessible Green Spaces for Physical and Mental Health; Scoping study”, Final report for the Forestry Commission CJCCONSULTING economics environment countryside, 67:20-35 (2005).
  • Walker, Ch., “The Public Value of Urban Parks’, Beyond Recreation A Broader View od Urban Parks”, The Urban Institute& The Wallace Foundation, Washington, 8:3-6 (2004).
  • Fausold, J., an Lilieholm, R.J., “The Economic Benefits of Open Space in Utah”, Institute of Outdoor Recreation and Turism, Urah State University Extention, No. NR/RF/003, U.S.A, (1999).
  • Economy League of Greater Philadelphia ( ELGPH), “The Economic Value of Protected Open Space in Southeastern Pennsylvania”, Econsult Corporation, Keystone
  • Pennsylvania, 95-100, (2010). Trust, First
  • Edition, [16] Relf, D., “Plants Actually Clean the Air” , Extension Specialist,
  • cooperative extension, (1996). Horticulture,
  • Virginia [17] Mansfield, C., and Pattanayak, S.K., and McDow, W., and McDonald, R., and Halpin, P., “Shades of Green: Measuring the Value of Urban Forests in the Housing Market”, Southern Environmental Law Center, Duke University, Research Triangle Institute International, , U.S.A, Working Paper 02-02 (2002).
  • Northwest Regional Development Agency
  • (NWDA), “The economic benefits of green infrastructure – an assessment framework for the NWDA”, AMION
  • Consulting, Silkhouse Court, Northwest, England, 98:14- 39 (2008).
  • Beattie, J.,and Kollin, Ch., & Moll, C., “Trees Help Cities Meet Clean Water Regulations”, American Forests (summer 2000), p. 18, (http://www.americanforests.org/
  • downloads/graytogreen/treeshelpcities.pdf.), Washington, DC, (2000).
  • Dinapoli, Th.P., “Economic Benefits of Open Space Preservation”, Office of The Sate Comptroller, New York, 60-64 (2010).
  • Suparmoko, M., “Economic Valuation for Environmental Goods and Services; Market Price Method”, Faculty of Economics, Budi Luhur University, Jakarta, Indonesia, 16:6-10 (2008).
  • Chi Liao, W., and Wang, X., “ Hedonic house prices and spatial quantile regression”, Journal of Housing
  • Economics, 21:16–27, (2012).
  • Harnik, P., and Welle, B., “Measuring the Economic Value of a City Park System”, Graham Foundation for Advanced Studies in the Fine Arts, Chicago, 28:10-11 (2009).
  • Kaul, S., “Hedonism and Culture: Impact on Shopper Behaviour”, Indian Institute of Management Publication, Ahmedabad, India, 10:4-5 (2006).
  • Selim, S., “Determinatin Of House Prices In
  • Turkey: A Hedonic Regression Model”, Doğuş
  • Üniversitesi Dergisi, İstanbul, 9 (1):65-76(2008).
  • Anton, P. A., “The Economic Value of Open Space; Implications for Land Use Decisions”, Wilder Research,
  • Page 7, Saint Paul, Minnesota, (2005).
  • Rosen, S., “Hedonic prices and implicit markets:
  • product differentiation in pure competition”, Journal of
  • Political Economy, 82 (1), 34–55 (1974).
  • Janssen, C. B., and Soderberg, J. Z., “Robust
  • estimation of hedonic models of prive and income for
  • investment property”, Journal of Property Investment &
  • Finance, 19(4): 342-360, (2001).
  • Cömertler, S., “The Impact Of Pedestrianisation On Residential Property Rental Values”, Ph.D Thesis, A Thesis Submitted to The Graduate School of Engineering and Sciences İzmir Institute of Technology in Partial Fulfillment of the Requirements for the Degree of Doctor Of Philosophy in City Planning, İzmir, 78-80 (2007).
  • Freeman, A. M., “Hedonic prices, property values and measuring environmental benefits: A survey of the issues”, Scandinavian Journal of Economics, 81:154-171, (1979).
  • Chau, K. W. Ng, F. F. and Hung, E. C. T., “Developer's good will as significant influence on apartment unit prices”, Appraisal Journal, 69: 26-34, [32] So, H. M., and Tse, R. Y. C., and Ganesan, S., “Estimating the influence of transport on house prices: Evidence from Hong Kong”, Journal of Property Valuation & Investment, 15(1) 40-47 (1996).
  • Goodman, A. C., “Topics in empirical urban housing research”, Journal of The Economics of Housing Markets, in R. Muth & A. Goodman, Harwood Academic, Chur, Switzerland, 47:49-146, (1989).
  • Williams, A., “A guide to valuing transport externalities by hedonic means”, Transport Review, 11(4): 311-324 (1991).
  • Ball, M., “Recent empirical work of the determinants of relative house prices”, Urban Studies, Centre for Environmental Studies, London, 213-233, (1973).
  • Follain, J. R., and Jimenez, E., “Estimating the
  • demand for housing characteristics, Regional Science and Urban Economics, 15:77-107, (1985).
  • Orford, S., “Valuing location in an urban housing market”, in the Proceedings of the 3rd International Conference on GeoComputation, United Kingdom, University of Bristol, Bristol BS8 1SS. UK., 56-58 (1988).
  • Dubin, R. A., and Sung, C. H., “ Specification of
  • hedonic regressions: Non-nested tests on
  • measures of neighbourhood quality”, Journal
  • of Urban Economics, 27:97-110, (1990).
  • Dusse, N., and Jones, C., “A hedonic price model of office rent”, Journal of Property Valuations and Investment, 16(3): 297-312, (1998).
  • Bolitzer, B., and Netusil, N.R., “The Impact Of Open Spaces On Property Values In Portland, Oregon”, Journal of Environmental Management, Department Of Economics University Of California, Los Angeles, U.S.A, 59(3):185-193, (2000).
  • Luttik J. “The Value of Trees, Water and Open Space As Reflected by House Prices In The Netherlands”, Journal of Landscape and Urban Planning, Alterra, Green World Research, Netherlands, 48 (3- 4):161-167, (2000).
  • Gao, X., and Asami, Y., “Effect of Urban Landscapes on Land Prices in Two Japanese Cities”, Journal of Landscape and Urban Planning, 81:155–166, (2006).
  • Gujarati, Damadar N., Basic Econometrics, (Mc, Grew-Hill, NewYork, 1995.
There are 58 citations in total.

Details

Primary Language English
Subjects Engineering
Journal Section Architecture & City and Urban Planning
Authors

Ayşe Tekel

Leila Akbarıshahabı This is me

Publication Date July 5, 2013
Published in Issue Year 2013 Volume: 26 Issue: 2

Cite

APA Tekel, A., & Akbarıshahabı, L. (2013). Determination of Open-green Space’s Effect on Around House Prices by Means of Hedonic Price Model; in Example of Ankara/Botanik Park. Gazi University Journal of Science, 26(2), 347-361.
AMA Tekel A, Akbarıshahabı L. Determination of Open-green Space’s Effect on Around House Prices by Means of Hedonic Price Model; in Example of Ankara/Botanik Park. Gazi University Journal of Science. July 2013;26(2):347-361.
Chicago Tekel, Ayşe, and Leila Akbarıshahabı. “Determination of Open-Green Space’s Effect on Around House Prices by Means of Hedonic Price Model; In Example of Ankara/Botanik Park”. Gazi University Journal of Science 26, no. 2 (July 2013): 347-61.
EndNote Tekel A, Akbarıshahabı L (July 1, 2013) Determination of Open-green Space’s Effect on Around House Prices by Means of Hedonic Price Model; in Example of Ankara/Botanik Park. Gazi University Journal of Science 26 2 347–361.
IEEE A. Tekel and L. Akbarıshahabı, “Determination of Open-green Space’s Effect on Around House Prices by Means of Hedonic Price Model; in Example of Ankara/Botanik Park”, Gazi University Journal of Science, vol. 26, no. 2, pp. 347–361, 2013.
ISNAD Tekel, Ayşe - Akbarıshahabı, Leila. “Determination of Open-Green Space’s Effect on Around House Prices by Means of Hedonic Price Model; In Example of Ankara/Botanik Park”. Gazi University Journal of Science 26/2 (July 2013), 347-361.
JAMA Tekel A, Akbarıshahabı L. Determination of Open-green Space’s Effect on Around House Prices by Means of Hedonic Price Model; in Example of Ankara/Botanik Park. Gazi University Journal of Science. 2013;26:347–361.
MLA Tekel, Ayşe and Leila Akbarıshahabı. “Determination of Open-Green Space’s Effect on Around House Prices by Means of Hedonic Price Model; In Example of Ankara/Botanik Park”. Gazi University Journal of Science, vol. 26, no. 2, 2013, pp. 347-61.
Vancouver Tekel A, Akbarıshahabı L. Determination of Open-green Space’s Effect on Around House Prices by Means of Hedonic Price Model; in Example of Ankara/Botanik Park. Gazi University Journal of Science. 2013;26(2):347-61.