The Value of a Sea View: Hedonic Estimates Using 3D Simulation and Natural Language Processing

被引：1
|
作者：
Gillespie, Tom [1 ]
Lyons, Ronan C. [2 ,3 ]
Hynes, Stephen [1 ]
机构：
[1] Univ Galway, Whitaker Inst Innovat & Societal Change, Socio Econ Marine Res Unit, Galway, Ireland
[2] Trinity Coll Dublin, Dept Econ, Dublin, Ireland
[3] Trinity Coll Dublin, Ctr Econ Policy & Hist, Dublin, Ireland
来源：
LAND ECONOMICS | 2024年 / 100卷 / 02期
关键词：
BLUE SPACE; PRICE; AMENITIES; MODEL; EXPOSURE; ACCESS; MARKET;
D O I：
10.3368/le.100.2.071522-0056R
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This article develops a new measure of sea view breadth and depth, based on a combination of GIS 3D simulation and natural language processing (NLP) techniques. NLP identifies properties that have a sea view, while GIS measures its extent. We estimate the value of a sea view using a hedonic housing price model and a sample of over 100,000 sales listings in Ireland, 2014-2019. We find that a sea view can add significant value to a property, all else being equal, with an average premium of 8.1% rising to 15% for a wide breadth of sea view. (JEL Q15, R14)
引用
收藏
页码：278 / 295
页数：18
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