How Do Homebuyers Value Different Types of Green Space?

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

Journal of Agricultural and Resource Economics, 2011, vol. 36, issue 2, 21

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.

Keywords: Consumer/Household Economics; Land Economics/Use (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:jlaare:117210

DOI: 10.22004/ag.econ.117210

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