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

IF 1.3 4区经济学 Q3 ECONOMICS

Land Economics Pub Date : 2023-10-16 DOI:10.3368/le.100.2.071522-0056r

Tom Gillespie, Ronan C. Lyons, Stephen Hynes

引用次数: 0

Abstract

This paper develops a novel 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. It then estimates 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.

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海景的价值:使用3D模拟和自然语言处理的享乐估计

基于GIS三维仿真和自然语言处理(NLP)技术的结合，提出了一种新的海景宽度和深度测量方法。NLP识别具有海景的属性，而GIS测量其范围。然后，它使用享乐房价模型和2014-2019年爱尔兰超过10万个销售清单的样本来估计海景的价值。我们发现，在其他条件相同的情况下，海景可以为房产增加可观的价值，平均溢价为8.1%，而宽阔的海景则为15%。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Land Economics Multiple-

CiteScore

2.60

自引率

0.00%

发文量

期刊介绍： Land Economics is dedicated to the study of land use, natural resources, public utilities, housing, and urban land issues. Established in 1925 by the renowned economist and founder of the American Economic Association, Richard T. Ely at the University of Wisconsin, Land Economics has consistently published innovative, conceptual, and empirical research of direct relevance to economists. Each issue brings the latest results in international applied research on such topics as transportation, energy, urban and rural land use, housing, environmental quality, public utilities, and natural resources.