Air pollution is a major environmental issue in China. This paper exploits the relocation of two major power plants in a key city as a quasi-natural experiment to examine the effect of changes in the quality of the environment on the housing market. We use an extensive transaction dataset of new...

A proper understanding of real estate markets is of economic importance and not simple as properties are a heterogenous asset where no two are alike. Traditionally, parametric or semi-parametric and, thus, assumption-based hedonic pricing models are used to analyze real estate market...

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...

We examine how exogenous changes in exposure to air pollution over the past two decades have altered the disparities in home values between Black and White homeowners. We find that air quality capitalization rates are significantly lower for Black homeowners. In fact, they are so much lower...

This study employs the hedonic property price method to analyze the flood risk effect on a rich set of data. The analysis is carried out on Hungary, but as the control variables are extremely elaborated, our results have general importance. The paper finds a significant reduction in housing...

Greater South Dunedin (GSD) has been identified as one of the most vulnerable areas to Climate Change-Related Flooding Hazards (CCRFH) in New Zealand, yet little is known about the magnitude of how CCRFH will impact property values. We address this issue by proposing a novel modelling strategy...

The value of open space is often reflected by the higher prices of the homes located in its proximity. But is closer always better? We examine this question by estimating a hedonic regression using pooled crosssectional data from Germany spanning 2007 until 2023. We distinguish two types of open...

Rock mining operations, including limestone and gravel production, have considerable adverse effects on residential quality of life due to elevated noise and dust levels resulting from dynamite blasting and increased truck traffic. This paper provides the first estimates of the effects of rock...

This paper studies how greenhouse gas emissions (GHGe) mitigation policy (i.e., Greenhouse Gas Pollution Pricing Act or GHGPPA) impacts sellers’ and buyers’ behaviors in housing transactions due to these participant’s different reactions to the Act’s effect on housing transactions from...

Large-scale flooding is becoming increasingly common due to prolonged and intensive rainfall caused by climate change. Communities have mitigated this risk by building flood protection, though it is unclear whether residents are aware of these public works or the protection they confer. We...