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Centre for Innovation Systems, Entrepreneurship and Growth, Jönköping International Business School CISEG Working Papers Series
Centre for Innovation Systems, Entrepreneurship and Growth, Jönköping International Business School

No 5:
Estimating Economic Values of Meadows and Grazings using Hedonic Housing Modeling and GIS

Pia Juusola ()

Abstract: This paper uses the hedonic housing model to assess economic values to high value meadows and grazings located in rural settings. The hypothesis is that residential purchase prices include premiums for properties located in the surrounding areas of such environments. The dataset consist of 7565 property transactions sold during the period 1977-2007. The main findings are that houses located in the immediate surrounding area of these lands were on average 2.6 per cent more expensive which implies that the size of the premium approximately equals €3200 for these properties.

Keywords: Hedonic housing; Geographic information systems; Meadows; Grazings; (follow links to similar papers)

JEL-Codes: Q10; Q50; (follow links to similar papers)

22 pages, March 11, 2009

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