Value of urban views in a bay city: Hedonic analysis with the spatial multilevel additive regression (SMAR) model

Yoshiki Yamagata, Daisuke Murakami, Takahiro Yoshida, Hajime Seya, Sho Kuroda

研究成果: Article査読

31 被引用数 (Scopus)

抄録

This paper attempts to assess the value of urban views in a bay city (Yokohama), Japan. Firstly, three types of views, open view (goodness of visibility), green view (visibility of open space), and ocean view (visibility of ocean), were quantified employing the viewshed analysis implemented on the GIS with airborne LiDAR data and 0.5 m × 0.5 m high resolution aerial photos. Secondly, hedonic analyses were conducted to test the capitalization of value of those views into condominium prices using the spatial multilevel additive regression (SMAR) model, where possible non-linearity, multilevel structure of condominiums (unit-building), and spatial dependence were considered. This study implies that "very nice" open view (in terms of the amount of visibility) and ocean view may have a positive premium, whereas "slightly nice" open and ocean views may not. Also, a "moderate amount" of green view may raise condominium prices, but "poor" and "too much" green view may reduce condominium prices. These results indicate that the effects of views are indeed non-linear, and therefore it may be misleading to interpret the results obtained by linear models as existing studies have done.

本文言語English
ページ(範囲)89-102
ページ数14
ジャーナルLandscape and Urban Planning
151
DOI
出版ステータスPublished - 2016 7月 1
外部発表はい

ASJC Scopus subject areas

  • 生態学
  • 自然保全および景観保全
  • 管理、モニタリング、政策と法律

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