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Greenways are networks of green corridors of various widths that have attracted increasing scholarly and policy interest due to their economic influence on proximate property values. However, most existing studies have focused on community-scale greenway projects. On the urban scale, in particular, there is a lack of understanding of the heterogeneity of greenway economic influences on property values. In Chengdu, China, the recently developed Jincheng Greenway is a special case, characterized by large-scale green spaces and value capture policies. Through hedonic pricing analysis, we examined the influence of the Jincheng Greenway on proximate properties based on 106,328 transaction records of preowned apartments between January 2017 and December 2020. Empirical results show that apartments along greenways have higher prices compared with apartments 500 m away. However, proximity to a greenway does not necessarily lead to higher prices because apartments located 500 m–1 km from a greenway will benefit more from greenways than those located within 500 m. Moreover, compared with the assumed increment in the value capture policies, the actual increases were smaller than the policy expectations. As a result, both the increase in property value and the areas influenced by the greenway deviated from what was anticipated in the original land value capture policy. From this perspective, this study contributes to examining the economic benefits of citywide greenway projects in the Chinese context and provides essential evidence for future land value capture policies related to greenway development. [ABSTRACT FROM AUTHOR]

This study provides step‐by‐step guidance for practitioners and local stakeholders on how to use existing study results to conduct benefit transfer (BT), and ultimately make informed predictions of how improvements in lake water clarity may benefit surrounding communities. The procedures are demonstrated using a publicly available meta‐dataset developed by the United States Environmental Protection Agency, and a subsequent meta‐analysis that synthesizes the literature on how improvements in water clarity impact home values. The BT procedures are demonstrated using a case study of 14 large lakes in Kosciusko County, Indiana. Lake‐specific average increases in home values, as well as the value of the housing stock in aggregate, are calculated for illustrative improvements in lake water clarity. This analysis provides a critical bridge to better connect high‐quality, academic research with real‐world policy analysis, and ultimately serves to better equip local governments and stakeholders to make more informed policy and land use decisions. [ABSTRACT FROM AUTHOR]

The implementation of controlling is a rational necessity to ensure an effective management system in a company, so it is essential to evaluate its effectiveness in terms of tactical and strategic components. However, there is no general system of indicators reflecting the effectiveness of strategic and tactical controlling, therefore, the purpose of the study was to develop and improve a methodological approach to evaluate the effectiveness of such controlling based on the analysis of the company’s financial reports as a tool for the validity of management decisions. Based on the method of comparative analysis, the differences between tactical and strategic controlling were identified and characterized, which made it possible to specify the criteria for evaluating their effectiveness. It was found that the monitoring basis of controlling mechanisms is comprehensive and covers the entire spectrum of operational and management processes in the company. A system of indicators was formed to evaluate the effectiveness of tactical and strategic controlling. A methodological approach to evaluating the effectiveness of controlling components based on the analysis of the company’s financial reports is proposed. It was tested on the example of PJSC Trust Zhytlobud-1 by calculating generalizing integral indicators of the effectiveness of controlling components based on data from the company’s financial reports. Using the algorithm of the taxonomic analysis method, a matrix of observations was formed and standardized, a reference vector was constructed and integral indicators for evaluating the effectiveness of the company’s tactical and strategic controlling were calculated. The application of the proposed method made it possible to reveal the problematic aspects of distribution processes in the company and in the context of managerial decision-making. This allowed to evaluate the effectiveness of the controlling system in the company and to determine the reserves for improving the effectiveness of controlling processes. The practical value of the study lies in the proposed methodological approach, which may be useful in the process of diagnosing the effectiveness of the quality of managerial decision-making in companies both in the current activity and in the long run

We test whether local retail services are considered a nuisance or an amenity and how this distinction is capitalized into residential property values. Using a rich, micro-spatial dataset on property sales transactions and business activity in New York City, we estimate the impact of access to neighborhood retail services on residential sales prices. We construct two instruments to channel supply-side drivers of retail change and to address concerns of endogeneity between changes in retail activity and property values. Results show that retail services that are more frequently consumed and experiential, and are located in relatively more mixed-use neighborhoods are positively capitalized into property values. Residents also pay more to be closer to more diverse retail clusters, and relatively less to be closer to chains. This is true across smaller 1-to-4 family homes as well as larger condos/coops and multi-family rental buildings. The price effects from certain classifications of retail, like restaurants and personal services, are mixed depending on the kind of residential property and the local concentration of the retail. Therefore, the relative strength of the amenity or nuisance effect is very much conditioned on the type of service and the localized neighborhood context. [ABSTRACT FROM AUTHOR]

In recent decades, Bangkok has experienced substantial investments in its urban railway network, resulting in a profound transformation of the city's landscape. This study examines the relationship between railway development and property value uplift, particularly focusing on network centrality, which is closely linked to urban structure. Our findings are based on two primary analyses: network centrality and spatial hedonic models. The network centrality analysis reveals that closeness centrality underscores the city's prevailing monocentric structure, while the betweenness centrality measure envisions the potential emergence of urban subcenters. In our hedonic analysis of condominiums near railway stations, we formulated various regression models with different specifications, incorporating spatial effects and network centrality. With Bangkok's predominant monocentric structure in mind, we found that the spatial regression model, including a spatial error specification and closeness centrality, outperforms the others. This suggests that the impact of railways on property values extends beyond station proximity and encompasses network centrality, intricately linked with the city's urban structure. We applied our developed model to estimate the expected increase in property values at major interchange stations with high network centralities. These numerical values indicate a considerable potential for their evolution into urban subcenters. These insights offer valuable policy recommendations for effectively harnessing transit-related premiums and shaping the future development of both the railway system and the city. [ABSTRACT FROM AUTHOR]

The article deals with the problems of the relationship between the concepts: the duty to pay tax and the tax liability. The obligation to pay taxes has acquired the character of a constitutional obligation, the legal regulation of which is carried out by the provisions of the legislation on taxes and fees. The state is the main subject of tax legal relations, possessing powerful powers in relation to the rest of the participants, actively implementing an arsenal of imperative measures of influence that allow it to determine the nature of the behavior of the latter. The legal norms governing the identification of problems that arise when defining the concepts of the duty to pay tax and tax liability are analyzed. The ambiguity and inconsistency of these norms leads to the emergence of a significant number of tax disputes, in particular court ones. The article uses general scientific methods - analysis and synthesis, induction and deduction, generalization and comparison, systemic-structural, etc., as well as private-scientific methods - formal-logical, formal-legal, comparative-legal, legal modeling, comparative-historical, and others . It was determined that the obligation to pay the tax arises only in the presence of the corresponding object, which follows precisely from the requirements of the law and is conditioned by the public-legal nature of the mandatory payment. It has been established that the obligation to pay tax is associated with the taxpayer's performance of a number of tax-procedural actions, such as: registration with the tax authority; keeping records of taxation objects; calculation of taxes, if provided by law; maintaining, compiling, and submitting tax reporting within the established terms; compliance with the tax payment deadline and procedure. Regarding the expediency of using the category "tax liability", it should be noted that the use of the category of tax liability as an independent, different from the civil law term is possible, but in law enforcement practice it will be more appropriate to use the category "obligation to pay tax". [ABSTRACT FROM AUTHOR]

Purpose: The economic value of residential homes is determined by an array of factors. Property value has taken on a new dimension as sustainability gains popularity in the real estate development industry. The housing market has been significantly impacted by the global COVID-19 outbreak and an increase in demand for domestic residences with access to outside spaces is a result of lockdowns and limitations. Homes that offer outdoor activities, natural ventilation, and a connection to nature are now prioritised by homebuyers. Thus, the economic worth of homes with gardens, patios, and spacious balconies has increased because of this change in preference. The aim of this research was to identify distinct key value-adding factors that could be implemented across the numerous stages of a construction project by individuals, at varied levels of expertise, within a construction development environment. This study examines important variables that affect local residential property value economically and sheds light on the importance for construction and renovation projects. Design/Methodology/Approach: The study explores highly desired property typologies and homeownership culture, as well as how these factors affect changes in renting behaviour. The strategy taken in this study is qualitative and employs interpretivism theory and inductive reasoning. Semi-structured interviews based on attitudinal research were used in the research as part of an ethnographic strategy with a sample of participants. Selection criteria included experience in the sector for a number of years, comprehension of the value of real estate, skill in financial and ecological property value-adding aspects, and localised social knowledge. Indicators used to predict site desirability included net population movement and the introduction of new companies. Thematic coding was executed with NVIVO™, allowing a methodical language-centered analytic strategy to make sense of the range of data retrieved. Findings: Results show that the proximity to essential facilities, easy access to transit, ideal urban planning, and the likelihood of future development are the main elements that have had an impact on economic worth. Furthermore, outcomes demonstrate that purchasers' willingness to pay more for greener properties is still restricted, despite the growing interest in sustainable building practices, as economic considerations are taking precedence over environmental concerns. Practical Implications: Associations such as IVS, RICS, and TEGOVA and Malta's transparency in demonstrating reliability and effectiveness of data sources for comparable evidence are key factors for leveraging value-added factors through the construction development cycle. Originality/Value: The primary asset for a significant number of households is their portfolio of real estate properties. This has considerable importance as families can effectively enhance their overall domestic household income by strategically augmenting the perceived value of their real estate holdings. [ABSTRACT FROM AUTHOR]

Greenways are networks of green corridors of various widths that have attracted increasing scholarly and policy interest due to their economic influence on proximate property values. However, most existing studies have focused on community-scale greenway projects. On the urban scale, in particular, there is a lack of understanding of the heterogeneity of greenway economic influences on property values. In Chengdu, China, the recently developed Jincheng Greenway is a special case, characterized by large-scale green spaces and value capture policies. Through hedonic pricing analysis, we examined the influence of the Jincheng Greenway on proximate properties based on 106,328 transaction records of preowned apartments between January 2017 and December 2020. Empirical results show that apartments along greenways have higher prices compared with apartments 500 m away. However, proximity to a greenway does not necessarily lead to higher prices because apartments located 500 m–1 km from a greenway will benefit more from greenways than those located within 500 m. Moreover, compared with the assumed increment in the value capture policies, the actual increases were smaller than the policy expectations. As a result, both the increase in property value and the areas influenced by the greenway deviated from what was anticipated in the original land value capture policy. From this perspective, this study contributes to examining the economic benefits of citywide greenway projects in the Chinese context and provides essential evidence for future land value capture policies related to greenway development.

Are there any correlations between land use and the associated prices charged for the soil? What is the significance of green infrastructure and what is the significance of public facilities and transport? For the analysis of the data, various methods of factor reduction and analysis were used to identify a multiple regression model that explained the price building. An effect was found between the pricing of the standard land reference value (SLRV), number of trees and distance to allotments. Summarizing the results, less than 231 trees in an SLRV zone causes an SLRV increase, the opposite is the case with a larger number of trees. The more accessible an allotment garden is (in terms of distance <421 m), the lower the SLV in the adjacent area. If the distance that must be covered to the allotment garden increases, the SLRV of the area increases. However, a more significant influence on the SLRV was concluded by the market economy variables. In summary, the present study indicates that (a) a uniform evaluation matrix for the SLRV should be created, and (b) the present subjective land assessments by the relevant experts should be complemented through targeting further training in the ecologically oriented planning context. [ABSTRACT FROM AUTHOR]

Polish expropriation law introduces a compensation system based on the socalled "benefit principle". This principle assumes estimating the value of the property based on its intended use if it results in a greater value. The problem of considering the intended purpose of expropriation and, consequently, the application of the benefit principle is widespread in compensation proceedings relating to road investments. The research objective of this paper is an attempt to answer the question of whether the benefit principle should be maintained in the real estate appraisal procedure in order to determine compensation, i.e. whether the intended use resulting from the purpose of expropriation should be taken into account if it increases its value. The research also focuses on identifying those factors that should be considered instead of the benefit principle in order to estimate fair compensation for expropriated real estate. Part of the study is also devoted to the assessment of planned changes in legal regulations regarding compensation proceedings. The subject of the research are procedures and regulations for determining compensation for real estate expropriated for road investments in Poland. The analysis covers the stages of the compensation procedure and the factors affecting the amount of compensation. These procedures were compared with those in force in other countries in the context of applying the benefit principle. The results of the analysis lead to the conclusion that the amount of compensation should be independent of the intended purpose of expropriation. This is because planning classification for public purposes cannot be treated as a criterion which increases the market value of the expropriated property. [ABSTRACT FROM AUTHOR]

Electric vehicle charging points (EVCPs) are the foundation of the EV industry and are conducive to low-carbon transportation development. Research on EVCPs mainly focus on operation profits and layout, while no study assesses their economic premium. Aiming at providing a reference for the installation of EVCPs, this study employs a hedonic price model to evaluate the economic premium of CPs, based on apartment transactions and complex data on CPs in 2015 and 2016 in Beijing. The primary findings indicate the economic premium of CPs is significantly positive in both housing sale and rental markets. However, the impact of CPs on housing prices is heterogeneous in terms of complex floor area ratio and location. Specifically, the premium effect of CPs is more significant in larger complex and complex in the suburb. Following the above conclusions, we provide several policy pathways to promote the construction of CPs and their scientific location layout. [ABSTRACT FROM AUTHOR]

Noise exposure has reached an alarming degree over the years because of rapid growth in the industry, transportation, and urbanization. Therefore, it is a dire need to provide awareness of the sources and mitigation strategies of noise, and to highlight the health, and socio-economic impacts of noise. A few research studies have documented this emerging issue; however, there is no comprehensive document describing all types of noise, their impacts on living organisms, and control strategies. This review article summarizes the sources of noise; their effects on industrial workers, citizens, and animals; and the value of property in noisy areas. The plethora of literature is showing an increased level of noise in various cities of the world, which have various health consequences such as high blood pressure, insomnia, nausea, heart attack, exhaustion, dizziness, headache, and triggered hearing loss. Apart from humans, noise also affects animal habitat, preying, and reproduction ability; increases heart rate and hearing loss to even death and loss in property value; and impairs the hospital environment. Finally, we have discussed the possible strategies to mitigate the noise problem, policy statements, and regulations to be followed, with future research directions based on the identified research gaps. [ABSTRACT FROM AUTHOR]

The product of sugar-base ratio and potassium content in tobacco samples was used as the property value, and the normal distribution test of sample property value in cigarette making process and the calculation of tobacco mixing uniformity were conducted. Through the analysis of control chart, process capability index and tobacco mixing ability, the quality stability and variation law of tobacco in each process were explored. The results showed that the mixing uniformity of tobacco in loose moisture regain process was 67. 04%, the coefficient of variation was 32. 96%, and the mixing uniformity was poor. Premixing contributed the most to the improvement of tobacco mixing uniformity, with the variance reduction index of 17. 59 after first-order feeding premixing, and the tobacco mixing uniformity reached 94. 30%. The processing quality stability of tobacco materials in loose moisture regain and primary feeding premixing process was poor. The mixing uniformity of tobacco materials in the subsequent four processes was more than 95%, and the process capability index CP value was close to 2. 0. The processing quality stability was better. According to the results, the mixing uniformity and quality stability of the material could be improved by increasing the number of cigarette cutters and increasing the premixed cabinet in the cigarette making process. [ABSTRACT FROM AUTHOR]

In the United States, flood events are the most economically damaging type of natural disaster. Some of the most widely used tools for understanding property flood risk in the United States are the Flood Insurance Rate Maps (FIRMs) produced by the Federal Emergency Management Agency (FEMA). Numerous previous studies have attempted to estimate the impact on property valuation from a home's being mapped into a Special Flood Hazard Area (SFHA) within FIRMs. However, as these maps have widely served as the source of data about true flood risk, there have been limits on the ability of researchers to disentangle these zone designation impacts as due to actual flood risk or as due to perceived flood risk. New advancements in flood modeling have allowed for the prediction of high-quality property-level flood inundation, both now and in the future. By integrating these flood modeling advancements, true flood risk may be controlled for in models looking to explore the avenues by which property valuation impacts occur. To this end, this study builds on insights from recent research looking at the valuation of single-family residential properties in Miami-Dade County (MDC), which utilizes a high-resolution floodplain model to estimate the impact of actual property inundation on sales prices. By controlling for actual property flood risk, impacts of SFHA designations are estimated in MDC through implementation of a difference in difference model which utilizes the release of updated FIRMS in 2009 and the 217,222 transactions and 120,693 property designation changes which occurred within the dataset. [ABSTRACT FROM AUTHOR]

Increasing precipitation variability has led to growing concerns about the risk of flood in many parts of the U.S. and worldwide. This study adopts a spatial regression analysis framework based on floodplain boundary discontinuities to control for unobserved spatial heterogeneities in flood risk assessment. The empirical strategy combines spatial matching with the regression discontinuity design. Using parcel-level data from Juniata County, Pennsylvania, we find an over six percent property value reduction due to additional one-standard-deviation flood exposure as defined by the percentage of property area inside the flood zone. Specifically, given that the study region's average single-family residential housing price is $114,684 (in 2015 USD), the estimated flood risk impact is $7056 (in 2015 USD, or 6.15%) for a one-standard-deviation increase in flood exposure. The estimate (for a rural housing market) is of a similar magnitude to several recent estimates from urban and suburban housing markets. This paper contributes to the literature as one of the first quantitative studies of flood risk impacts on rural housing markets. [ABSTRACT FROM AUTHOR]

For a long time, social factors have been identified as a set of crucial determinants of residential location choice and property value. Here, safety and security issues constitute a significant issue. Inhabitants are traditionally concerned about their neighborhoods and housing locations, and, considering current problems in big Western cities, this concern is by no means lessening. The study presents a social innovation for assisting the search for safe housing environments. A list of quantifiable key features regarding negative externalities and actual criminality provides the basis for constructing a checklist for the comparison of safe places within a city, or comparing cities with respect to their safety for housing occupants, investors, developers and other stakeholders. The controversial nature of the argumentation notwithstanding, this method is suggested to prove valuable in circumstances marred by increasing social hazards and turmoil.

Are there any correlations between land use and the associated prices charged for the soil? What is the significance of green infrastructure and what is the significance of public facilities and transport? For the analysis of the data, various methods of factor reduction and analysis were used to identify a multiple regression model that explained the price building. An effect was found between the pricing of the standard land reference value (SLRV), number of trees and distance to allotments. Summarizing the results, less than 231 trees in an SLRV zone causes an SLRV increase, the opposite is the case with a larger number of trees. The more accessible an allotment garden is (in terms of distance

The restrictions and requirements imposed by historic preservation regulations bring about many changes to the rights of property owners. They might impose additional costs, most notably by prohibiting the demolition of designated buildings and thus decreasing property-development opportunities. The objective of this study is to examine what happens following world heritage designations; specifically, if and how such designations impact the property values of historic buildings. Using the hedonic price method, we measure the value of the option to demolish and rebuild that is denied to owners of designated buildings. We also measure the value of preservation regulations, expressed in the prices of apartments in designated buildings. The study area is the “White City” of Tel Aviv, which UNESCO designated as a world heritage site. The findings suggest that the market price of a designated building is on average 12.5% lower than its theoretical value if the building was not subject to historic preservation regulations. Moreover, a premium of approximately 14% was found in the price of apartment units in designated buildings if the building underwent preservation. These findings could have a direct impact on public policies designed to promote the preservation of historical buildings in world heritage sites.

• Introduction of 10 new variables to the rail access uplift meta-analysis literature. • Transit expenditure share and network expanse positively impact rail access premiums. • Rent control policies and ethno-racial dynamics affect rail access premiums. • Tests effects of Global Financial Crisis (2007–2009) on rail access premiums. • Expansion of geo-scope of rail access premium comparisons; includes Global South. Access to transit infrastructure is valuable. In areas surrounding rail stations, some of that value gets absorbed by property markets. Since 1970, over 200 case studies worldwide have explored the extent to which transit access impacts property value uplift. However, findings from this body of research vary widely. In an attempt to explain this variation, previous meta-analytic studies have focused on testing the roles that built environment elements, temporal factors, and modelling techniques play in shaping the observed relationship between proximate positioning from rail stations and property pricing. This study expands on these meta-analyses by introducing the first examination of how transit service elements – e.g. frequency, fare, reliability – impact rail-induced residential property value uplift. It further contributes to the literature by expanding the range of geo-comparability of uplift findings across four continents, examining the potential effects of the Global Financial Crisis of the late 2000s, and adding 10 new variables of potential influence not only under the banner of 'transit service', but pertaining to neighborhood socio-demographics and housing policy as well. Findings reveal that factors of geography, housing data type, race and ethnicity, rent control policies, rail type, transit cost, and transit network expanse all significantly affect rail access uplift magnitude ranging from depreciating effects of 7.4 percentage points to appreciating effects of 9.6 percentage points. Beyond helping to explain variation across the literature, these findings can be a useful tool for policymakers combatting trends of increasing market-driven displacement from transit-rich areas, those pursuing financing mechanisms for transit infrastructure, and to transit planners concerned with how their decisions may affect matters of housing equity for the communities they serve. [ABSTRACT FROM AUTHOR]

This study quantifies the magnitude and spatial-temporal persistence of home value losses associated with a chemical spill in the Elk River using difference-in-difference, spatial regression techniques. Results suggest homes within 3 miles of the spill experienced a value loss, with the largest effect on homes within one mile of the spill. Homes beyond 3 miles experienced no significant effect. The loss in value affected prices for years after the contamination was remediated. Homes within the water utility service area experienced a significant increase in value following the spill, which may reflect public value of water quality monitoring by a utility. [ABSTRACT FROM AUTHOR]

Motivation: Both the research on the residential market focuses primarily on analyses of the size and quality of the housing stock, or seeking dependencies with socio-economic factors. The second research area is the analysis of prices and construction of residential price indices. As an equally important issue is assessing the intensity of trade in particular types of flat and location. A standard view is that those small flats are more frequently traded on the market than large ones. Aim: The study concerns analysis of ownership duration of a flat by the same owner (from the day of purchase to the sale day). It depends on the characteristics of the dwelling, including the location and size. The research will verify the hypothesis of a shorter duration for small units and its location. The study relies on the example of one local housing market. The study use regression analysis to examine the property value on the city’s districts and duration analysis to explore ownership duration time, and nonparametric models of a proportional model Cox gambling with explanatory variables dependent on time. Results: This research is significant in socio-spatial connection to the housing market. It shows that the current practice of buying a small flat as an investment in the housing market is appropriate. Due to the rapid price increase of small flats and high turnover, the chances for a good investment are increasing. With the help of the Cox model, the study shows that on the local market poor location in the old city housing estate and a larger floor area decreased the odds of a property to be sold quickly. The study results are valuable due to the unique role of housing on investing in the local market. [ABSTRACT FROM AUTHOR]

This paper evaluated impact of infrastructure in residential property on its property values in Ibadan, Nigeria. A total number of 450 questionnaires were administered out of which 423 questionnaires were retrieved. Both descriptive and inferential statistics were used to analyze the data collected for the study). The study revealed that burglary proof was seen as the strongest index of satisfaction in the study area, this was followed by security guard. Kitchen and fenced round ranked third and fourth respectively, while bathroom/toilet and access road ranked fifth and sixth respectively. Water supply ranked seventh, while drainage channel ranked lowest in the study area. The paper concluded that property developers that want to invest in residential buildings development should endeavor to provide infrastructure that will attractive rental values on their residential property in Ibadan in particular and towns and cities in developing nations. [ABSTRACT FROM AUTHOR]

Over time, the government of Pakistan introduced several strategies to deal with the issue of slums in its capital city, Islamabad. Contrary to the traditional strategies that primarily focus on the tenure security of occupants, the strategy of slum redevelopment is more composite. It involves the up-gradation of slums in their existing sites as well as the demolition of slums from the posh areas. The present study is first to empirically investigates the outcomes of the slums redevelopment policies on the value of adjacent residential properties. Using a rental valuation based hedonic price model, the study examined the spillover effects of an urban slum up-gradation and eviction projects on the nearby housing values. The results show that the redevelopment of slums reduces the adverse effects on residential value. It is essential for the urban planners to cautiously include the slum redevelopment projects spillover effects on the adjacent property value in different geographical locations, to maximize the net positive effects of improvements on the neighborhood.

This paper evaluated impact of infrastructure in residential property on its property values in Ibadan, Nigeria. A total number of 450 questionnaires were administered out of which 423 questionnaires were retrieved. Both descriptive and inferential statistics were used to analyze the data collected for the study). The study revealed that burglary proof was seen as the strongest index of satisfaction in the study area, this was followed by security guard. Kitchen and fenced round ranked third and fourth respectively, while bathroom/toilet and access road ranked fifth and sixth respectively. Water supply ranked seventh, while drainage channel ranked lowest in the study area. The paper concluded that property developers that want to invest in residential buildings development should endeavor to provide infrastructure that will attractive rental values on their residential property in Ibadan in particular and towns and cities in developing nations.

Hedonic property value studies of water quality conventionally focus on water quality levels measured nearest a home. This study examines whether water quality at the nearest access point (i.e., a beach) matters more to local residents. We conduct a hedonic analysis of water quality in the Long Island Sound, where an aging infrastructure and heavy precipitation lead to frequent sewage overflows. The analysis focuses on bacteria contamination and beach closures at various access points and monitoring sites. Results suggest that decreases in water quality measured at the nearest beach yield a larger negative effect and impact homes at a farther spatial extent than previously suggested in the literature. [ABSTRACT FROM AUTHOR]

South Africa is challenged with an increased backlog of adequate subsidised affordable housing for the marginalised in well-located areas that provide access to urban amenities and places of employment. However, the perception of subsidised affordable housing developments built in the urban core in close proximity to bonded properties is significantly negative. This article seeks to address whether the presence of subsidised affordable housing provided through South Africa’s Integrated Residential Develop-ment Programme (IRDP) impacts on the property value of bonded properties located nearby. This article examines the impact of the subsidised affordable housing development of Fleurhof, Johannesburg, on surrounding property values. It investigates, in particular, whether the IRDP housing development decreases property values. Using hedonic pricing models (HPM) with regressions, the housing attributes (characteristics) and property price data, dating from 2001 to 2017, were used to determine the effect on the value of properties in the suburbs of Meadowlands East Zone 1 and Orlando West in Soweto and Florida in Roodepoort, as the two closest residential communities to Fleurhof. The article reveals that the close proximity of the housing development in the initial stages (2001-2010) of the development affected property values negatively. However, in the long run, the housing development does not affect property values.

In many metropolitan regions, transit-oriented developments are built to motivate the use of sustainable travel by promoting urban growth within walking distances of public transport stations. Changes in residential property values are a common way to assess the success of transit-oriented developments. However, studies that focus on property values alone have reported mixed effects. This paper attempts to evaluate the land value impact around commuter rail stations by analyzing the change in property values within the context of the transformation of socio-spatial neighborhood attributes. The study sets out to estimate the effect of Randstad Rail stations using real estate transaction data of residential properties and neighborhood socio-spatial attributes in the Rotterdam–the Hague metropolitan area of the Netherlands covering a period from 1985 to 2018. Adopting a quasi-experimental design, the effect is estimated for properties within different catchment zones around three commuter rail stations using a Difference-in-Differences Model and Multivariate Analysis of Variance. The results demonstrate the overall negative effect of the Randstad Rail on the value of residential properties at a distance equal to or less than 400 meters from the selected rail stations in the range of -18.8% to -11.5%. In contrast, a positive effect is observed for the residential properties located within a radius of 400 to 800 meters from the rail stations, which is estimated to be +15% to +33.2%. The findings also indicate a considerable socio-spatial transformation in the neighborhood composition after the opening of the rail stations in terms of neighborhood population density, land-use density, housing characteristics, and car ownership, which significantly affect the magnitude and direction of the impact.

This paper uses statistical analyses to understand the effect of proximity of old prisons on property prices. The study employed semilog hedonic regression models: a quantitative research method applied to assess the impact of proximity to heritage gaols on property prices for a case study of HM Prison Pentridge in the time range between 2015 and 2019. Results demonstrated that the former Pentridge has a variable effect on properties lying in and around its current heritage borders. Pentridge shows a diminution effect on prices of residential properties on its land currently being developed to a mixed-use precinct, as well as its intimate surrounding residences. Inversely, Pentridge shows a positive price effect on properties lying at distances between 400 m and the maximum study range of 1400 m in the case of 'houses' and between 600 m and the range of 1000 m in the case of 'units.' Findings of this research suggest that prices of properties with direct visual access to Pentridge's structures are negatively affected. Results also suggest that Pentridge's current redevelopment project may have contributed positively to property prices lying outside the direct visibility zone. To be able to further validate these interpretations, similar research may consider other variables influencing property valuation, such as direct visibility of the gaol as well as interviews that assess the 'attractability' of Pentridge's redevelopment. Future studies may examine the rate of change in property price along time for each distance band from the gaol borders. Future research may also consider duplicating the methodology to assess the comfortability towards gaols converted to museums, as well as gaols that are still in operation. The originality of this research emerges from the distinct lack of quantitative evidence in the current literature. Most research has investigated uncomfortable heritage focusing on qualitative assessments of memory, stigma, commemoration, and shame, with limited scholarly attention paid towards property depreciation effects as a result of Australia's prison history, nor increasing effects due to gaols' reuse and redevelopment. Decision-makers and stakeholders of equivalent dark heritage reuse projects will find this research useful in understanding potential impacts on surrounding property prices. Property valuers and real estate companies operating in Coburg—a suburb of Melbourne, Australia—may use the related tables and figures in guiding their business for the coming years. [ABSTRACT FROM AUTHOR]

Over time, the government of Pakistan introduced several strategies to deal with the issue of slums in its capital city, Islamabad. Contrary to the traditional strategies that primarily focus on the tenure security of occupants, the strategy of slum redevelopment is more composite. It involves the up-gradation of slums in their existing sites as well as the demolition of slums from the posh areas. The present study is first to empirically investigates the outcomes of the slums redevelopment policies on the value of adjacent residential properties. Using a rental valuation based hedonic price model, the study examined the spillover effects of an urban slum up-gradation and eviction projects on the nearby housing values. The results show that the redevelopment of slums reduces the adverse effects on residential value. It is essential for the urban planners to cautiously include the slum redevelopment projects spillover effects on the adjacent property value in different geographical locations, to maximize the net positive effects of improvements on the neighborhood. [ABSTRACT FROM AUTHOR]

This study quantitatively reviews the hedonic literature examining surface water quality to assess how attributes of the commodity, housing market, and methodological choices lead to variation in the significance and expected sign of the estimated property value effects (i.e., elasticities). We conduct a meta-analysis of 29 studies with 290 unique estimates, published or released between 1985 and 2017, and find evidence based on probit meta-regression models that some of the definitions and decisions made in primary studies do influence the estimated relationship between water quality and home prices. Our most robust evidence suggests that methodological choices (e.g., accounting for spatial dependence, or if the water quality measure was based on something other than in situ measurement) have a critical role in determining the likelihood of finding a significant and theoretically expected result; and perhaps most importantly, it is not always selections that reflect best practices that lead to this finding. This study can help identify potential concerns with data and modeling choices in the collective hedonic literature focused on water quality. • Property value literature on water quality assessed using probit meta-regressions • Study choices linked to significance and sign of estimated water quality effect • Methodological variables are a consistent source of variation • Commodity and market characteristics are a limited source of variation [ABSTRACT FROM AUTHOR]