Housing property along riverbanks in Taipei, Taiwan: a spatial quantile modelling of landscape benefits and flooding losses
Pei-Ing Wu (),
Yi Chen () and
Je-Liang Liou ()
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Pei-Ing Wu: National Taiwan University
Yi Chen: Arboriculture and Landscape Management Office
Je-Liang Liou: Chung-Hua Institution for Economic Research
Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, 2021, vol. 23, issue 2, No 58, 2404-2438
Abstract The purpose of this study is to compare the riverbank landscape benefit and flooding loss for housing property types with different price levels along the Tamsui River in Taipei, Taiwan. The most important contribution of this study is the empirical accomplishment of analysing a large dataset of 23,948 transacted housing properties by using a spatial lag quantile regression model. The overall results show that the riverbank landscape benefit on both sides of the Tamsui River is larger than the flooding loss. By housing type, the flooding losses for some types of housing properties with specific price levels are larger than the riverbank landscape benefits. However, for housing properties with the highest prices, the riverbank landscape benefit is in general larger than its corresponding flooding loss. Accounting for both the riverbank landscape benefit and flooding loss for every type of housing property provides comprehensive guidance and gives urban development a constructive direction.
Keywords: Flooding loss; Geographic information system; Landscape benefit; Spatial lag quantile regression; Willingness to pay; Hedonic price method (search for similar items in EconPapers)
JEL-codes: C30 Q51 R32 (search for similar items in EconPapers)
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