How do homebuyers value different types of green space?

Rosalind H. Bark, Daniel E. Osgood, Bonnie G. Colby, Eve B. Halper

Research output: Contribution to journalArticlepeer-review

24 Citations (Scopus)

Abstract

It is important to understand tradeoffs in preferences for natural and constructed green space in semi-arid urban areas because these lands compete for scarce water resources. We perform a hedonic study using high resolution, remotely-sensed vegetation indices and house sales records. We find that homebuyers in the study area prefer greener lots, greener neighborhoods, and greener nearby riparian corridors, and they pay premiums for proximity to green space amenities. The findings have fundamental implications for the efficient allocation of limited water supplies between different types of green space and for native vegetation conservation in semi-arid metropolitan areas.

Original languageEnglish
Pages (from-to)395-415
Number of pages21
JournalJournal of Agricultural and Resource Economics
Volume36
Issue number2
Publication statusPublished - Aug 2011

Keywords

  • Golf course
  • Hedonic model
  • Locally weighted regression
  • Open space
  • Park
  • Riparian
  • Spatial

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