Title

Valuing recreational water clarity and quality: evidence from hedonic pricing models of lakeshore properties

Document Type

Article

Publication Date

2-6-2019

Publication Title

Applied Economics Letters

Volume

26

First Page

237

Last Page

244

Keywords

hedonic pricing models, real estate markets, Water clarity, water quality, waterfront properties

Abstract

© 2018, © 2018 Informa UK Limited, trading as Taylor & Francis Group. This study extends the economics literature on the relationship between recreational water quality and residential property pricing by separately testing the relationships between both water clarity and quality and the price of lakeshore residential properties in Ontario, Canada. Our econometric approach includes objective measures of both attributes: Secchi disk readings for water clarity and phosphorus concentrations for water quality. Econometric results presented in this study suggest that a one-metre improvement in water clarity results in an 8 per cent residential property price premium, while a one standard deviation improvement in water quality boosts lakeshore residence prices by 32 per cent.

This document is currently not available here.

Share

COinS