Water quality and cottage prices in Ontario

Julia Clapper and Steven B Caudill

Applied Economics, 2014, vol. 46, issue 10, 1122-1126

Abstract: We use hedonic analysis to show that water clarity has a significant effect on lakefront property values in the Near North Ontario, Canada. In this study, water clarity is measured by Secchi disc reading. Based on two different dependent variables; sales price and sales price per square foot, and the estimation of linear, log--linear and log--log models, we find that water clarity does matter to lakefront property buyers in the Near North, Ontario. In particular, our results indicate that buyers are willing to pay about 2% more for each 1-foot increase in water clarity or Secchi depth. This finding is consistent across all of our specifications.

Date: 2014
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DOI: 10.1080/00036846.2013.851778

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