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Book part
Publication date: 29 March 2021

Helen X. H. Bao

Urbanisation, environmental sustainability and property markets are intertwined. Consequently, studies on any of these three topics need to take the other two topics into…

Abstract

Urbanisation, environmental sustainability and property markets are intertwined. Consequently, studies on any of these three topics need to take the other two topics into consideration. By critically reviewing 33 hedonic pricing studies in 16 key journals in the urban studies and environmental policies areas, we summarise quantitative evidence on the price of environmental externalities resulting from China's urbanisation process. We find that Chinese residents are willing to pay more for the access to green space and waterbody as well as the treatment of urban pollution. The cost and benefit of these amenities and disamenities have already been capitalised in house prices. The central and local government in China can leverage market force to encourage, support and facilitate sustainable urban development and environmental protection, instead of directly intervening in the property market by using public resources. Meanwhile, the estimated hedonic price of Urban Green, Urban Blue and Urban Grey helps policymakers to understand the cost and benefit of their urban development decisions. Our review of the papers on Urban Green, Urban Blue and Urban Grey suggests that there have been promising and encouraging development in studies on all three topics in the last decade. The quality and quantity of hedonic price research has been improving notably. However, it is also clear that there is virtually no empirical evidence from the second- or third-tier cities, particularly, regarding Urban Green and Urban Blue investigations. The small number of existing hedonic studies is far from sufficient to draw reliable conclusions about the costs of environmental externality for cities that have not been studied. What works in first-tier cities may not hold elsewhere in China due to the large geographical variation in natural endowment, economic development status and local customs. There are many pieces that are missing from this big picture. More hedonic price studies are needed.

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Sustainable Real Estate in the Developing World
Type: Book
ISBN: 978-1-83867-838-8

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Article
Publication date: 7 June 2018

Andi Nidaul Hasanah and Muhammad Halley Yudhistira

Landscape view is a crucial factor in house-buying decisions. Landscape views provide an amenity to residents, and this can influence the house or apartment owners in their…

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Abstract

Purpose

Landscape view is a crucial factor in house-buying decisions. Landscape views provide an amenity to residents, and this can influence the house or apartment owners in their residence decisions. Yet, the relative value of different types of view potentially differs. Additionally, the value of each type of view may differ depending on an apartment’s elevation above the ground level. In this study, the authors aim to estimate the value of landscape views on apartment prices in major urban areas in Indonesia.

Design/methodology/approach

This paper evaluates to what extent various landscape views including mountain, sea, river, lake, street, urban village, garden and sports center views affect apartment prices in major urban areas in Indonesia. Two hedonic regression approaches are used: ordinary least squares and semiparametric regression. The latter is used to accommodate a possible non-linearity in the relationship between price and apartment characteristics. The model also incorporates housing and locational characteristics as control variables.

Findings

Using online apartment market data, the estimates in this paper show some degree of heterogeneity in the value of various views to the extent of providing negative externalities. Mountain, street and sports center views are associated with higher apartment prices. Sea, lake and garden views are statistically insignificant in explaining the prices. In contrast, the unappealing nature of the rivers and their surrounding creates a negative impact on prices. The estimates also suggest that an apartment’s floor height plays a significant role in the valuation of views.

Originality/value

There is little research on landscape view effects on apartment prices, especially in Indonesia. In addition, the relationship between the value of views and height preferences has seldom been analyzed. This paper provides the valuation of an extensive list of landscape views in urban areas in Indonesia. The estimation results also suggest that the value of views may differ depending on the floor on which an apartment lies.

Details

International Journal of Housing Markets and Analysis, vol. 11 no. 4
Type: Research Article
ISSN: 1753-8270

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Book part
Publication date: 10 December 2024

Wan-Yu Liu, Chin-Chun Yen and Tian-Yu Lee

Weather and climate have a strong impact on tourism. However, because meteorological forecast information is considered a public good, people often overlook its market value. This…

Abstract

Weather and climate have a strong impact on tourism. However, because meteorological forecast information is considered a public good, people often overlook its market value. This study uses the contingent valuation method (CVM) to evaluate the economic value of a stargazing forecast system and assessed whether such a system would increase the public's willingness to stargaze. The results demonstrate that the economic value of the proposed stargazing forecast system is NT$ 0.2–2.5 billion, and the total value was 0.27–3.5 billion when protest responses are excluded. In addition, a stargazing forecast system could increase the public's willingness to engage in stargazing, indicating that both the system and meteorological information have a tremendous nonmarket value. Accordingly, this study suggests that the government could develop a stargazing forecast system and partner with famous stargazing destinations to popularize stargazing to propel the growth of the tourism industry.

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Article
Publication date: 5 June 2017

Christina Ling-hsing Chang and Jim Q. Chen

The purpose of this paper is to understand the impact of Chinese culture on the information ethics perception gaps between Chinese and American students.

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Abstract

Purpose

The purpose of this paper is to understand the impact of Chinese culture on the information ethics perception gaps between Chinese and American students.

Design/methodology/approach

Using a qualitative approach, this study utilizes Kohlberg’s Cognitive Moral Development model and an open-ended questionnaire to measure and analyze the gaps among information ethics perceptions of students from Taiwan, Mainland China, Hong Kong, and the USA, and to assess the extent to which the gaps are influenced by Chinese culture.

Findings

Students’ perceptions of intellectual property, information accuracy, privacy, and accessibility (PAPA) are deeply influenced by national culture. Sub-cultures have significant impact on the perceptions. Political systems, history, and legal environment may also play a role in the differences of PAPA perceptions among the three Chinese societies. The study also revealed that accuracy and intellectual property are the most deficient areas of moral developments in both Chinese and American samples.

Research limitations/implications

The sample sizes from Hong Kong and the USA were relatively small due to resource and time constraints. In addition, the subjects from Hong Kong and the USA were a little bit older than the subjects from Taiwan and Mainland China due to the fact that universities in HK and USA tend to have more non-traditional students than in universities in Mainland China and Taiwan. Second, the questionnaire is a limited means of studying moral reasoning because the results are likely to reflect espoused theory rather than theory-in-use.

Practical implications

The educational implication of this study calls for a renewed approach to educate students on the importance of information ethics for the sake of sustained economic development.

Originality/value

The novelty of this research lies in its interpretation of students’ PAPA perceptions and fresh insights from a Chinese guanxi perspective.

Details

Information Technology & People, vol. 30 no. 2
Type: Research Article
ISSN: 0959-3845

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Article
Publication date: 24 February 2012

Xiaolu Zhou and Masud Parves Rana

The purpose of this paper is to review the topic “urban green space” focusing on its social benefits and measure techniques in terms of monetary value and accessibility. It…

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Abstract

Purpose

The purpose of this paper is to review the topic “urban green space” focusing on its social benefits and measure techniques in terms of monetary value and accessibility. It suggests potential research direction by using an integrated valuation and measurement framework, and concludes that urban green space valuation in the providers’ perspective as well as accessibility analysis in the consumers’ perspective are useful tools that provide significant measure techniques in urban green space planning.

Design/methodology/approach

The paper uses a systematic approach to build up a conceptual framework that quantifies social benefits of green space from provider and consumer perspectives. The literature review indicates some limitations of existing techniques of valuation and accessibility analyses, which entails an integrated model of measurements.

Findings

The paper explores social benefits of urban green space, which includes recreational opportunities, aesthetic enjoyments, adjusting psychological well‐being and physical health, enhancing social ties, and providing educational opportunities. To analyze existing evaluation and measure techniques of urban green space, the paper points out that a single measurement only evaluates certain aspects of urban green space, which may not always be suitable to comprehensively assess social benefits from both providers’ and consumers’ perspectives. Considering this limitation, the paper offers an integrated model to measure urban green space that may deal with current limitations.

Originality/value

The originality of the study resides in designing an integrated model including valuation and measure techniques. It certainly offers an important avenue to evaluate social benefits of urban green space.

Details

Management of Environmental Quality: An International Journal, vol. 23 no. 2
Type: Research Article
ISSN: 1477-7835

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Article
Publication date: 1 August 1997

Sang M. Lee and Jim Q. Chen

Suggests that most executive support systems are designed to support executives’ information and communication needs. The cognitive aspect of executive support has received…

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Abstract

Suggests that most executive support systems are designed to support executives’ information and communication needs. The cognitive aspect of executive support has received relatively little attention in the field of decisions support systems. Focuses on the cognitive aspect of executive work and discusses three types of executive thinking: retrospective, introspective, and prospective. Proposes a three‐mode conceptual model for executive support systems design.

Details

Logistics Information Management, vol. 10 no. 4
Type: Research Article
ISSN: 0957-6053

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Book part
Publication date: 5 November 2021

Sarai Pouso and Erik Gómez-Baggethun

While concentration of population in urban areas continues, limited contact with ecological dynamics undermines awareness on human dependence on ecosystems. However, demands on…

Abstract

While concentration of population in urban areas continues, limited contact with ecological dynamics undermines awareness on human dependence on ecosystems. However, demands on ecosystems have never been higher than in today's urbanized planet, and cities make major contributions to global environmental problems. Enhancing green and blue infrastructure (GBI) in cities can reduce the ecological footprints of cities, while enhancing urban resilience and quality of life for their inhabitants. Urban GBIs provide multiple benefits to people in the form of ecosystem services (ES) and hold potential for providing nature-based solutions (NBS) to address urban challenges.

To adequately evaluate the ES provided by GBI, researchers have recently advocated integrated valuations. Integrated valuations aim at overcoming the limitations of the traditional single discipline and narrow approaches, by considering the multiple ways in which humans benefit from nature across the economic social and cultural domains.

In this chapter, we present examples of integrated valuations of ES in two Spanish cities, Barcelona and Bilbao. Both examples combine different valuation techniques and metrics, both monetary and nonmonetary, to account for the ES provided by urban GBIs and to assess their potential as NBS.

Our case examples show that urban GBIs provide many valuable benefits to urban dwellers. One of the clearest outcomes from these infrastructures is cultural ES, especially the multiple recreation and leisure opportunities they provide, which in turn has a remarkable positive effect on human health and well-being.

Details

Nature-Based Solutions for More Sustainable Cities – A Framework Approach for Planning and Evaluation
Type: Book
ISBN: 978-1-80043-637-4

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Article
Publication date: 10 October 2016

Chung-Shing Chan and Lawal M. Marafa

This paper aims to connect green spaces with city branding by introducing a proposed Green (Resource) Brand Hexagon (GBH).

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Abstract

Purpose

This paper aims to connect green spaces with city branding by introducing a proposed Green (Resource) Brand Hexagon (GBH).

Design/methodology/approach

This study empirically tested the principles of the GBH with samples of Hong Kong residents (n = 301) and visitors (n = 395). Surveys were carried out to investigate the perceptions of the 23 elements in the GBH by both respondent groups.

Findings

A comparison of the results via factor analysis identified two green brand structures preferred by local residents (a brand pentagon) and by visitors (a brand square). The findings suggest different associations of green resource elements in their brand perceptions, which were partly reflected in the governmental Brand Review exercise in Hong Kong in 2008. Inter-group differences in the ranking of GBH’s elements also indicate a knowledge gap between visitors and residents.

Research limitations/implications

The modification process of the GBH from Anholt’s City Brand Hexagon framework involved researchers’ interpretations and understanding of green resources in Hong Kong; it inevitably produced some degree of subjectivity. The working definition of “green resources” in this study perceptually excluded certain features in public parks, such as the geological landscapes and beaches that are, in principle, part of the Hong Kong Geopark.

Originality/value

The findings of this paper offer an indicative green brand framework for destination marketers and brand managers whose cities enjoy attractive green resources. The ratings of GBH’s elements provide useful references for local brand management through an understanding of strong green brand attributes and structures by local residents and visitors. The inter-group comparison of the green brand structures also informs policymakers and city marketers about the divergent associations of brand elements for possible brand extension. Finally, the results are also very beneficial because they provide an opportunity for regional green brand development.

Details

Journal of Place Management and Development, vol. 9 no. 3
Type: Research Article
ISSN: 1753-8335

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Article
Publication date: 29 July 2014

J. McCord, M. McCord, W. McCluskey, P.T. Davis, D. McIlhatton and M. Haran

The aim of this study is to add to the emerging knowledge base in the UK and be of relevance to land use planners and all stakeholders in property taxation. Urban green open…

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Abstract

Purpose

The aim of this study is to add to the emerging knowledge base in the UK and be of relevance to land use planners and all stakeholders in property taxation. Urban green open spaces are valuable environmental resources often associated with positive influences for quality of life and property value.

Design/methodology/approach

Using a hedonic pricing specification, this paper measures the proximate effect of public green space on residential property value. It examines the relationship between 3,854 residential sales transactions and public green spaces across the Belfast housing market gathered from Land and Property Services throughout the year 2011 showing the percentage effect on property value with respect to distance to public green spaces.

Findings

The results show that, ceteris paribus, urban green space has a significant positive impact on proximate residential properties sale price for the terrace and apartment sectors and that terrace and apartment property located closer to public green spaces achieved increases in sale price of up to 49 per cent. Adjacency to green open space produced significant property value premiums in only two of the four housing types analysed, with limited statistically significant proximate effects evident for the detached and semi-detached sectors, a finding which has important social and public policy implications.

Originality/value

A number of empirical studies have demonstrated that public green space, such as urban parks, have a positive impact on property values. However, there is a paucity of empirical research on this relationship in the UK. This study serves to address this gap by examining the effect of public green spaces on house price within the medium-sized regional city in the UK.

Details

Journal of Financial Management of Property and Construction, vol. 19 no. 2
Type: Research Article
ISSN: 1366-4387

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Article
Publication date: 18 March 2021

Onur Özsoy and Hasan Şahin

The purpose of this paper is to investigate empirically the main factors that affect the house prices in Izmir, Turkey using the quantile regression and ordinary least square…

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Abstract

Purpose

The purpose of this paper is to investigate empirically the main factors that affect the house prices in Izmir, Turkey using the quantile regression and ordinary least square approaches.

Design/methodology/approach

Sample data about the housing market for Izmir collected from the web pages of various real estate agencies during June 2018. Following this, the quantile regression method is used to estimate all possible effects of variables on each interested quantile to determine the factors that affect house prices to guide the potential consumers, house developers, city planners and the policymakers in Izmir, Turkey.

Findings

Results show that the age of the house, central heating and parking have no significant effect on prices. The size of the house, the existence of an elevator, fire and security have a positive and significant effect on prices. The number of rooms has lower values for high-priced houses, while the floor, the number of balconies, air conditioning, proximity to schools have a higher value for high-priced houses. The number of toilets, the number of bathrooms and the distance to the hospital have a lower value on the high-priced housing. The value of the distance from the city center and the shopping center is almost uniform in all quantiles and lowers the value of the higher-priced houses. With the exception of the value of the houses in the 10th percentile in Balcova district, the value of the houses in Konak, Balcova and Narlidere is lower prices in Karsiyaka.

Originality/value

This is the first comprehensive research to determine the major factors that affect house prices in Izmir. The second contribution of this paper is that it includes all possible variables and accordingly derives adequate policy implications, which could be used both by the public housing authority and private housing constructing companies in designing and implementing effective housing policies.

Details

International Journal of Housing Markets and Analysis, vol. 15 no. 1
Type: Research Article
ISSN: 1753-8270

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