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Hedonic Property Pricing

Using the resource
Requirements for using the resource:
<li>The Hedonic Property Pricing method requires large data sets of property sales statistics with physical characteristics of the property itself - and particularly for ecosystem services - e.g. characteristics of green infrastructure in the neighborhood</li>
<li>Medium-term (1-2 years)</li>
<li>Medium-demanding (6-12 PMs)</li>
Potential benefits from using the resource
Recognised and established approach
Potentially compatible with national accounting standards
Provides both public and private economic rationales for providing ecosystem services /amenities from green infrastructure
Potential limitations from using the resource
Requires large panel data sets of property sales data
Requires extensive GIS pre-processing of neighbourhood characteristics
Results are sensitive to modeling assumptions regarding spatial auto-collinearity
Scale of application:
Practical information
UN languages in which the resource is available:
Other languages in which the resource is available:
Finnish (Finland)
Development stage:
Full, working product
Contact details
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Hedonic Property Pricing is the study of multi-correlation between environmental characteristics of a good and its sales price. It can be used to estimate monetary values for ecosystem services that directly affect amenities of properties which in turn are reflected in property prices.


Subregions covered