Assessing the economic value of urban green spaces in Kuala Lumpur

Environmental Science and Pollution Research International
Nur Syafiqah A SamadKatsuya Tanaka

Abstract

This study assessed the economic value of public urban green spaces (UGSs) in Kuala Lumpur (KL) city by using the hedonic price method (HPM). It involves 1269 house units from eight sub-districts in KL city. Based on the hedonic price method, this study formulates a global and local model. The global model and local model are analyzed using ordinary least square (OLS) regression and geographically weighted regression (GWR). By using the hedonic price method, the house price serves as a proxy for public urban green spaces' economic value. The house price is regressed against the set of three variables which are structural characteristics, neighborhood attributes, and environmental attributes. Measurements of interest in this study are environmental characteristics, including distance to public UGSs and size of public UGSs. The results of the OLS regression illustrated that Taman Rimba Kiara and Taman Tasik Titiwangsa provide the maximum economic value. On average, reducing the distance of the house location to Taman Rimba Kiara by 10 m increased the house price by RM1700. Similarly, increasing the size of the Taman Tasik Titiwangsa by 1000 m2 increases the house price by RM60,000. The advantage of the GWR result is the economic ...Continue Reading

References

Jun 13, 2001·Journal of Environmental Management·L Tyrväinen

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