Hedonic Price Modelling of Environmental Attributes: A Review of the Literature and a Hong Kong Case Study

Chau, K. W., Yiu, C. Y., Wong, S. K., & Lai, L. W. C. (2003). Hedonic price modelling of environmental attributes: a review of the literature and a Hong Kong case study. Understanding and implementing sustainable development, 87-110.

24 Pages Posted: 15 Aug 2016

See all articles by K.W. Chau

K.W. Chau

The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics

Chung Yim Edward Yiu

Chinese University of Hong Kong - Department of Geography and Resource Management

Siu Kei Wong

University of Hong Kong

Lawrence Wai-Chung Lai

The University of Hong Kong - Department of Real Estate and Construction

Date Written: December 12, 2002

Abstract

This paper

(a) surveys leading works on hedonic pricing modelling of the impact of four main categories of environmental attributes (pollution and amenities) and the impact of zoning regulations on urban property values in western jurisdictions and in Hong Kong, as an example of a high-density high-rise urban system that characterises developing world urban morphology; and

(b) examines their relevance for a discussion of urban planning and development policies.

Keywords: air pollution, comprehensive development area (CDA), cultural attributes, environmental attributes, externality, hedonic price model, Hong Kong, land use, locational attributes, neighbourhood effects, property values, sustainable development, urban planning, view, zoning

JEL Classification: D02, D23, D62, Q52, Q53, R10, R14, R15

Suggested Citation

Chau, Kwong Wing and Yiu, Chung Yim Edward and Wong, Siu Kei and Lai, Lawrence W. C., Hedonic Price Modelling of Environmental Attributes: A Review of the Literature and a Hong Kong Case Study (December 12, 2002). Chau, K. W., Yiu, C. Y., Wong, S. K., & Lai, L. W. C. (2003). Hedonic price modelling of environmental attributes: a review of the literature and a Hong Kong case study. Understanding and implementing sustainable development, 87-110.. Available at SSRN: https://ssrn.com/abstract=2819710

Kwong Wing Chau (Contact Author)

The University of Hong Kong - Ronald Coase Centre for Property Rights Research - Economics ( email )

Ronald Coase Centre for Property Rights Research
Pokfulam Road
Hong Kong
Hong Kong
(852)28592128 (Phone)
(852)25599457 (Fax)

Chung Yim Edward Yiu

Chinese University of Hong Kong - Department of Geography and Resource Management ( email )

Shatin
the New Territories
Hong Kong
Hong Kong

HOME PAGE: http://www.grm.cuhk.edu.hk/eng/people/ppl/fac_YiuEdward.html

Siu Kei Wong

University of Hong Kong ( email )

Pokfulam Road
Hong Kong, HK
China

Lawrence W. C. Lai

The University of Hong Kong - Department of Real Estate and Construction ( email )

Hong Kong
China
(852) 259 7988 (Phone)
(852) 2559 9457 (Fax)

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