Measuring the willingness to pay for houses in a sustainable neighborhood

Tan, Teck Hong (2011): Measuring the willingness to pay for houses in a sustainable neighborhood. Published in: The International Journal of Environmental, Cultural, Economic and Social Sustainability , Vol. 7, (2011): pp. 1-12.

Abstract

This paper determines the responsiveness of the willingness to pay to changes in structural, locational, and neighborhood attributes of housing that incorporate sustainability objectives. In this study, 299 households from Kuala Lumpur and Selangor in Malaysia were interviewed. Results show that housing developers should build the neighborhood that promotes sustainability as house buyers generally are willing to pay more to live in a sustainable neighborhood. In order to build a progressive low carbon economy, the government should create the vision and give policy directions and guidelines that describe all aspects necessary of a sustainable neighborhood.

• Item Type: MPRA Paper
• Language: English
• Keywords: Sustainable Neighborhood, Sustainability, Willingness to Pay, Malaysia
• Subjects: Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q5 - Environmental Economics > Q56 - Environment and Development ; Environment and Trade ; Sustainability ; Environmental Accounts and Accounting ; Environmental Equity ; Population Growth

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