The willingness to pay for urban sustainability
2013 (English)In: 2013 International Space Syntax Symposium, Sejong University Press , 2013Conference paper (Refereed)
Quite recently certification systems for sustainable development of neighborhoods and communities, such as L EED ND and BREEAM for Communities, came to the market. These systems try to define urban sustainability through sets of criteria that in a variety of ways measure aspects in urban developments that have an influence on environmental, social and economical issues on a local level. This paper investigates the monetary values on these criteria, derived from property prices from apartments and single family houses in Copenhagen. In order to make proper estimates on the monetary values for certification criteria a hedonic price model is used. The model holds property prices from about 20 000 sales as dependent variable which is then correlated, through multiple regressions, with variables made out of the criteria through GIS-analyses. Translation from certification criteria into measurable variables is done with great consideration to contemporary urban theory. These variables are results from spatial analyses based on space syntax and other more standard spatial measures. The certification systems focuses on neighborhoods and communities, which is considered in the radiuses used for analyzing. It turns out that 19 of the 30 measured criterions are statistically significant, but a majority shows negative correlations to price. It is also acknowledged that space syntax measures like integration and betweenness have an influence on prices. Local integration, used as a proxy for various urban qualities, is shown to have a negative impact on prices. Qn the contrary, betweenness on a global scale is valued as positive. From these results the conclusion is that people are generally not willing to pay for urban sustainability on the local scale, as defined in LEED and BREEAM certification systems. However, it is furthermore argued that this is a question of measure and definition. Previous studies, e.g. (Spacescape and Evidens 2011) and (Sjaastad et al. 2007), imply that many of the measures used in this study are positively correlated to price if done on a global scale. It is concluded that the urban sustainability should to be examined further before rejecting the hypothesis that it has positive monetary value.
Place, publisher, year, edition, pages
Sejong University Press , 2013.
Betweenness, Integration, Sustainability, Urban scale, Willingness to pay, Costs, Economics, Spatial variables measurement, Syntactics, Urban growth, Certification systems, Measurable variables, Multiple regressions, Negative correlation, Urban sustainability, Sustainable development
IdentifiersURN: urn:nbn:se:kth:diva-201905ScopusID: 2-s2.0-85006304226ISBN: 9788986177213 OAI: oai:DiVA.org:kth-201905DiVA: diva2:1079096
9th International Space Syntax Symposium, SSS 2013, 31 October 2013 through 3 November 2013
QC 201703072017-03-072017-03-072017-03-07Bibliographically approved