Forest proximity and residential land values

Vijaya R. Sharma

Journal of Forest Economics, 2013, vol. 19, issue 1, 78-86

Abstract: This study estimates a hedonic price equation for residential lands in some mountain counties of Colorado. Results suggest that per-acre price of land in a town is positively influenced by the town's proximity to ski resort and is negatively influenced by its proximity to forest. However, there is a positive fixed effect of having a protected forest such as a national park or wildlife refuge nearby, and the negative effect of proximity of forest is much lower with protected forests. Results suggest that increasingly bigger parcels of land command progressively lower per-acre prices.

Keywords: Hedonic prices; Residential land values; Nonmarket valuation; Forest proximity; Ski proximity; Diminishing marginal value of land (search for similar items in EconPapers)
JEL-codes: Q24 Q51 R31 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:foreco:v:19:y:2013:i:1:p:78-86

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DOI: 10.1016/j.jfe.2012.11.001

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