Valuing Home Price Premium of Scenic Landscapes using Viewshed and GWR
Track: Urban and Regional Planning
Authors: Dr. Jay Mittal, Sweta Byahut
I will present detailed methodology of estimating households’ implicit willingness to pay for scenic lands in a single family housing market. This premium was captured using a Gravity Inspired Visibility Index (GIVI), developed using spatial analyst, 3D GIS and viewshed. Using local GWR based model estimated an average 3.4% price premium due to scenic landscapes. This presentation is useful for scholars & professionals in land use planning, real estate developers, and related public agencies.