Proximity to Neighborhood Services and Property Values in Urban Area: An Evaluation through the Hedonic Pricing Model

Asad Aziz (), Muhammad Mushahid Anwar, Hazem Ghassan Abdo, Hussein Almohamad, Ahmed Abdullah Al Dughairi and Motrih Al-Mutiry
Additional contact information
Asad Aziz: Department of Geography, University of Gujrat, Hafiz Hayat Campus, Gujrat 50700, Punjab, Pakistan
Muhammad Mushahid Anwar: Department of Geography, University of Gujrat, Hafiz Hayat Campus, Gujrat 50700, Punjab, Pakistan
Hazem Ghassan Abdo: Geography Department, Faculty of Arts and Humanities, Tartous University, Tartous P.O. Box 2147, Syria
Hussein Almohamad: Department of Geography, College of Arabic Language and Social Studies, Qassim University, Buraydah 51452, Saudi Arabia
Ahmed Abdullah Al Dughairi: Department of Geography, College of Arabic Language and Social Studies, Qassim University, Buraydah 51452, Saudi Arabia
Motrih Al-Mutiry: Department of Geography, College of Arts, Princess Nourah Bint Abdulrahman University, Riyadh 11671, Saudi Arabia

Land, 2023, vol. 12, issue 4, 1-12

Abstract: Neighborhood services, property attributes, and their associated amenities have positive impacts on land and property values. This impact is estimated by the hedonic pricing model, which is considered an effective method used in previous studies for such evaluations. The study uses Geographical Information Science by digitizing the point of interest in the study area for spatial modeling of data collection points and multi-linear regression as a statistical analysis of hedonic measurements. The hedonic measurements include the data of structural, locational, environmental, and community attributes of a property at a given time and space at a walkable distance from the neighborhood for measuring proximity. The results of the study are represented through the summary of the regression model, which expresses the impact of every individual variable on the entire value of the property, and the appropriateness of the results is shown by values R, R 2 , and adjusted R 2 . The result of the study concluded that property characteristics are varied from location to location, and that is why it is difficult to measure the exact market values, particularly in areas that lack urban planning and heterogeneous data. Research on such burning issues is essential for sustainable urban development.

Keywords: environment; hedonic model; land values; proximity; regression analysis; walkability (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
https://www.mdpi.com/2073-445X/12/4/859/pdf (application/pdf)
https://www.mdpi.com/2073-445X/12/4/859/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jlands:v:12:y:2023:i:4:p:859-:d:1120379

Access Statistics for this article

Land is currently edited by Ms. Carol Ma

More articles in Land from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().