+

* Rosen 1974 GIS 1 2 1 23080 1 80.782 1 0.336 3 120 10 120 4 5

+

* 93 11 19 2004 --

269

The Valuation of the Benefits of Green Area in TaipeiA Hedonic price Approach

Yen-Ling Peng* Abstract There is an increasing interest in measuring the benefits of green area or open space in urban area. The purposes of this study are to valuate the benefits of the green area in Taipei city, to draw the policy implications of the existing distribution of green area in Taipei city, and to propose the suggestion on future green area provision in Taipei. The approach employed to measure the benefits of green area is the hedonic price method. The hedonic price model is estimated by using the housing transaction data and the green area within a 500 meter radius surrounding the house and the total green area within the district. The estimated hedonic regression model is then used to estimate the benefits of the green area and to simulate the benefits of various distributions of the additional green area in Taipei. The major findings of this study are as fellows:1Housing price is significantly affected by its size, number of bathroom, use of the house, location, accessibility, and the NIMBY facilities. 2An increase in a hectare of green area within 500 meter radius of the house will result in an increase of housing price by NT$. 23080As the green cover in the district increase by 1%, the housing prices will be increased by NT$. 807820 in the case of linear model ,and increased by 0.336% in the case of non-linear model.3The benefits of a given amount of green area is related to its spatial distribution concentrated distribution will result in a higher benefits than that is catering distributed.4To achieve a higher level of benefits, the additional green area is suggested to be distributed near cit center.5The provision of neighborhood park enhances the accessibility to green area, and hence contributes to the appreciation of housing value. Keywords: Hedonic price method, Green Area, Benefits of Green Area, Policy Evaluation

270

Contingent Valuation MethodCVM Travel Cost Method TCM Hedonic Price MethodHPM Environmental Risk Landscape and Water Quality Environmental Protection Urban Amenity Agricultural Land Values Pollution Noise Social Factors

HPM 9 Rosen 8 n Z=(z1,z2,zn) bidding price offering price P(Z)=P(z1,z2,zn) hedonic price function Rosen1974 Zzi P(Z)

271

1.(Z)(zi)n 2. zi 3.capital theory 4.indivisibility pack 12 6 5. zi zi P(Z) P(Z) 6. P(Z)

1994 Canonical Correlation Analysis Box-cox 1 2 3 4 1 2

1998

272

1 OLS 12 2 3 2000 31 OLS 2 3 4 1 1989 2 Spearman 1 2 1993 3

273

1995

4 11.0ug/m3 7.1459 0.5966 0.4484 2 2.6380 -0.4940

Linear Bolitzer, B., and semi-log N. R. Netusil (2000) Semi-log Geogheg Double an, J. -log (2002) hedonic

1 park 2 1 Washington DC Baltimore MD 2 1600 buffer 3 1600 buffer

274

Linear Luttik, J. (2000)

1 2 8~10% 6~12% 3 5~12% Double-log 1 Geogheg ( an, J., Washington DC Lisa, A. 2 W., and log) 30 Nancy, E. B. 3 (1997)

275

Liisa, T. (1997)

linear (forest) semi-log (non-consumptive ) Hedonic hedonic

1 25 Joensuu (%) 2 hedonic 3

f

1.

276

8589 18799 1. 1. cod // e 89/3/19 87/7/28 85/6/4 24 25 14 25.12 730 11.42 245 11.37 250 2 2 2 1 1 1 1 2 1

58 132 36 165 4191 44 6072 98

2. 2. code

58 132 58 16 36 165 4191 165 66 44 6072 GIS 500 2. 66 98

500m

2.

277

1.1999 20100 220 2 530 2. GIS 500 3.

Y

X 3. 1. 2. 3.

278

120 120 10 120 12 10 1.

Pi = 76.473 + 27.503Floori + 27.348Bathi + 2.308Parki 0.000917 Station1i 0.02285Station 2 i 0.0186MRTi + 43.846Usei + 0.07069Trashi + 0.03392Substationii i P; Bath; Floor; Green Station1; Station2; MRT; Center; Trash; Substation; Use; Park; i = 1,2,3,....., n

129.697Center + 80.782Green

2.

279

Pi = 31.135 + 27.526 Floori + 25.777 Bathi + 1.889 Parki 0.01331Station1i 0.02908Station 2 i 0.01579MRTi + 39.89Usei + 0.06898Trashi + 0.02698Substationii P; Bath; Floor; Green2 Station1; Station2; MRT; Center; Trash; Substation; Use; Park; i = 1,2,3,....., n

247.79Center + 0.05948Green2 i

Pij = P Z P(Z )

( )

Z = (Green, Park ,.....)

Z = Green , Park .....Pij : j =

(

)

PZ PZ Z Z

V j = Piji =1

n

i = 1,2,3,.....n

280

j =

vj =

Vj nj

n j = j

TV j = v j N j

N j = j

TV = TV jj =1

12

10 120 500 70 60 50 40 30 20 10 0 - - 120- 120-

4 4 120 12 120

281

50 45 40 35 30 25 20 15 10 5 0

- - 120- 120-

5 4-5 120 120 50 40 30 20 10 0 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0

-

-

6 6

282

14 12 10 8 6 4 2 0 - - 120- 120-

7 120 12 68 120

283

1 23080 1 80.782 1 0.336 120 120

1. 1995 2. 1998 3. 2000

284

4. 5. 6. 7. 8.

9.

1992 1989 1993 1994 1993 () 2002 values in Portland, Oregon, Journal of Environmental Management, 59, 185-193. Geoghegan, J. (2002), The value of open spaces in residential land use, Land Use Policy, 19, 91-98. Geoghegan, J., Lisa, A. W., and Nancy, E. B. (1997), Spatial landscape indices in a hedonic framework: an ecological economics analysis using GIS, Ecological Economics, 23, 251-264. Liisa, T. (1997), The amenity value of the urban forest: an application of the hedonic pricing method, Landscape and Urban Planning, 37, 211-222. Luttik, J. (2000), The value of trees, water and open space as reflected by house prices in the Netherlands, Landscape and Urban Planning, 48, 161-167. Rosen, S. (1974), Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition, Journal of Political Economy, 82, 34-55.

10. Bolitzer, B., and N. R. Netusil (2000), The impact of open spaces on property 11. 12.

13. 14. 15.

285