Hedonic Pricing to Monetize Ecosystem Services Provided by Water Sensitive Urban Design: A Comparison of Geelong, Australia and Singapore | Zendy

Kim Irvine | Zendy; Bing Han Choy | Zendy; Lloyd H.C. Chua | Zendy; Jarrod Gaut | Zendy; Ho Huu Loc | Zendy; Nij Tontisirin | Zendy

Open Access

Hedonic Pricing to Monetize Ecosystem Services Provided by Water Sensitive Urban Design: A Comparison of Geelong, Australia and Singapore

Author(s) -

Kim Irvine,

Bing Han Choy,

Lloyd H.C. Chua,

Jarrod Gaut,

Ho Huu Loc,

Nij Tontisirin

Publication year - 2020

Publication title -

nakhara journal of environmental design and planning

Language(s) - English

Resource type - Journals

ISSN - 2651-2416

DOI - 10.54028/nj2020195978

Subject(s) - ecosystem services , business , residence , ecosystem , hedonic pricing , environmental resource management , environmental planning , geography , environmental science , ecology , economics , demographic economics , econometrics , biology

Water Sensitive Urban Design (WSUD) features increasingly are used for urban water management, green urban design, and improved community liveability, but relatively less data are available on the ecosystem services that WSUD provides. We used hedonic pricing, supported by qualitative surveys, in Geelong, Australia and Singapore, to evaluate benefits related to large WSUD features. For both locations there was a significant (α=0.05) inverse relationship between sale price of a residence and distance to the WSUD features. Qualitative surveys corroborated the hedonic pricing analysis, as a majority of people appreciated benefits accrued from living near WSUD features.

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