Valuing New Urbanism: The Case of Kentlands
研究了新都市主义社区(肯特兰兹)对独栋住宅价格的影响,发现购房者愿意为这类社区支付溢价。
This study assesses the impact of new urbanism on single‐family home prices. Specifically, we use Duany and Plater‐Zyberk's traditional neighborhood development (TND) of Kentlands and surrounding conventional subdivisions to estimate the premium, if any, that single‐family homeowners are willing to pay to reside in a community with new urbanist features. Using data on 2,061 single‐family home transactions and several hedonic price models, the empirical evidence reveals that consumers are willing to pay a premium to locate in Kentlands.