Urban forest structure effects on property value

Studies have quantified urban forests using well established field sampling methods. Other studies have used hedonic regression with real estate prices and remotely sensed vegetation cover data in valuation models. However, remote sensing introduces unfamiliar perspectives since it changes the scale...

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Autores Principales: Escobedo, Francisco J., Damian, Adams C., Timilsina, Nilesh
Formato: Artículo (Article)
Lenguaje:Inglés (English)
Publicado: Elsevier 2015
Materias:
Acceso en línea:https://repository.urosario.edu.co/handle/10336/27167
https://doi.org/10.1016/j.ecoser.2014.05.002
id ir-10336-27167
recordtype dspace
spelling ir-10336-271672020-08-19T14:46:28Z Urban forest structure effects on property value Efectos de la estructura del bosque urbano en el valor de la propiedad Escobedo, Francisco J. Damian, Adams C. Timilsina, Nilesh Cultural ecosystem services Non-market valuation Hedonic analyses Urban ecosystems Urban tree cover Ecosystem service tradeoffs Studies have quantified urban forests using well established field sampling methods. Other studies have used hedonic regression with real estate prices and remotely sensed vegetation cover data in valuation models. However, remote sensing introduces unfamiliar perspectives since it changes the scale and resolution perceived by humans. Real estate prices also fluctuate and are not regularly used in urban decision-making processes. This study values an urban forest cultural ecosystem service by integrating an explanatory hedonic regression model with randomly field-measured tree, shrub, and turf data from four cities across Florida, USA, during 2006–2009, and congruent parcel tract-level home attributes and appraised property values from single and multi-family units for 2008–2009. Results, on average, indicate trade-offs in that more trees with greater Leaf Area Indices (LAIs) add to property value, while biomass and tree–shrub cover have a neutral effect, and replacing tree with grass cover has lower value. On average, property value increased by $1586 per tree and $9348 per one-unit increase in LAI, while increasing maintained grass from 25% to 75% decreased home value by $271. Our ecological approach is an alternative, applied method that can be used by decision-makers for policy and cost–benefit analyses that calculate the stream of net benefits associated with urban forests. 2015-04-01 2020-08-19T14:41:12Z info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion ISSN: 2212-0416 https://repository.urosario.edu.co/handle/10336/27167 https://doi.org/10.1016/j.ecoser.2014.05.002 eng info:eu-repo/semantics/restrictedAccess application/pdf Elsevier Ecosystem Services
institution EdocUR - Universidad del Rosario
collection DSpace
language Inglés (English)
topic Cultural ecosystem services
Non-market valuation
Hedonic analyses
Urban ecosystems
Urban tree cover
Ecosystem service tradeoffs
spellingShingle Cultural ecosystem services
Non-market valuation
Hedonic analyses
Urban ecosystems
Urban tree cover
Ecosystem service tradeoffs
Escobedo, Francisco J.
Damian, Adams C.
Timilsina, Nilesh
Urban forest structure effects on property value
description Studies have quantified urban forests using well established field sampling methods. Other studies have used hedonic regression with real estate prices and remotely sensed vegetation cover data in valuation models. However, remote sensing introduces unfamiliar perspectives since it changes the scale and resolution perceived by humans. Real estate prices also fluctuate and are not regularly used in urban decision-making processes. This study values an urban forest cultural ecosystem service by integrating an explanatory hedonic regression model with randomly field-measured tree, shrub, and turf data from four cities across Florida, USA, during 2006–2009, and congruent parcel tract-level home attributes and appraised property values from single and multi-family units for 2008–2009. Results, on average, indicate trade-offs in that more trees with greater Leaf Area Indices (LAIs) add to property value, while biomass and tree–shrub cover have a neutral effect, and replacing tree with grass cover has lower value. On average, property value increased by $1586 per tree and $9348 per one-unit increase in LAI, while increasing maintained grass from 25% to 75% decreased home value by $271. Our ecological approach is an alternative, applied method that can be used by decision-makers for policy and cost–benefit analyses that calculate the stream of net benefits associated with urban forests.
format Artículo (Article)
author Escobedo, Francisco J.
Damian, Adams C.
Timilsina, Nilesh
author_facet Escobedo, Francisco J.
Damian, Adams C.
Timilsina, Nilesh
author_sort Escobedo, Francisco J.
title Urban forest structure effects on property value
title_short Urban forest structure effects on property value
title_full Urban forest structure effects on property value
title_fullStr Urban forest structure effects on property value
title_full_unstemmed Urban forest structure effects on property value
title_sort urban forest structure effects on property value
publisher Elsevier
publishDate 2015
url https://repository.urosario.edu.co/handle/10336/27167
https://doi.org/10.1016/j.ecoser.2014.05.002
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score 12,131701