A case study on the hedonic pricing methodology: In İskenderun urban space

ABSTRACT MSc THESIS A CASE STUDY ON THE HEDONIC PRICING METHODOLOGY: IN İSKENDERUN URBAN SPACE ONURBOYACIGIL DEPARTMENT OF LANDSCAPE ARCHITECTURE INSTITUTE OF NATURAL AND APPLIED SCIENCES UNIVERSITY OF ÇUKUROVA Supervisor : Prof. Dr. Faruk ALTUNKASA Year : 2003 Pages: 141 Jury : Prof. Dr. Faruk ALTUNKASA : Assoc. Prof. Dr. Haydar ŞENGÜL : Assist. Prof. Dr. Cengiz USLU The aim of this study is to evaluate cost and benefits, which are expected from the implications for improving the environmental quality of the İskenderun urban space. For this aim the Hedonic Pricing and Contingent Valuation methods were used to explore the relationship between house prices and some environmental quality parameters as the existence of green spaces, improved air quality, decreased noise level, and social facilities. A positive significant relation was found between improved environmental quality and house prices. Further, Contingent Valuation method was employed to control the reliability of the results. The role of the social benefit, which would be provided from the improved urban environment, in the market price system, was emphasized by this evaluation. In conclusion, quality of the urban environment is an effective factor on prices of residential facilities and the users are willing to pay the cost of the improved quality. Key words: Environmental Quality of Urban Space, Hedonic Pricing Method, Contingent Valuation Method and Social Cost Benefit Analysis IV