Natural Environmental Amenities and House Rentals

A Hedonic Analysis for Integrated Planning

Abstract

Environmental valuation techniques have been used in quantifying the influences of environmental amenities on house prices. The hedonic approach is used to evaluate contributions of environmental amenities to rents in this study. Though the theme of this study has attracted pedagogical attention, the comparison between man-made and natural environmental amenities in housing values is a nouvelle approach in identifying and explaining effective demand and value systems of urban and natural amenities through market evidence. It extends existing body of literature on hedonic studies in Nigeria by contextually assessing these two broad categories of environmental amenities on the same scale. Results reveal the variations in demand and significance of physical infrastructure and natural amenities in rents. This /study's significance lies in bringing to light, the realities of market demand for natural amenities in comparison with physical infrastructure