The value of a view: A spatial hedonic analysis

Oshadhi Samarasinghe and Basil Sharp

New Zealand Economic Papers, 2008, vol. 42, issue 1, 59-78

Abstract: This study estimates the value of a view amenity in the owner occupied residential property market in Auckland. Several dimensions of a view are analysed: type of view, scope of view and distance to the coast. To improve efficiency, heteroscedasticity and autocorrelation consistent covariances are estimated. Results suggest that a view adds significantly to the value of a residential property, where a wide water view closer to the coast has the highest positive impact. It is found that a wide water view increases the mean sale price approximately by 44% at the coastline.

Keywords: hedonic analysis; water view (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (7)

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DOI: 10.1080/00779950809544413

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