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Sustainability 2015, 7(11), 14618-14630; doi:10.3390/su71114618

A Study on Soil and Groundwater Pollution Remediation of the Surrounding Real Estate Prices and Tax Revenue Impact

1
Department of Natural Resources, Chinese Culture University, Taipei 11114, Taiwan
2
Department of Leisure and Recreation Administration, MingChuan University, Room P209-7, Taipei 33348, Taiwan
3
Department of Land Economics, National Chengchi University, Room 270603, Taipei 11605, Taiwan
*
Author to whom correspondence should be addressed.
Academic Editors: Vincenzo Torretta and Fausto Cavallaro
Received: 17 June 2015 / Revised: 28 October 2015 / Accepted: 28 October 2015 / Published: 3 November 2015
View Full-Text   |   Download PDF [1226 KB, uploaded 3 November 2015]   |  

Abstract

To see whether the surrounding real estate price after soil and groundwater pollution remediation will revert to the level before the risk of implicit pollution, this paper uses research methods, such as the hedonic price method and contingent valuation method for analysis. The results of empirical analysis reveal that the hedonic price method will be restricted by trade cases around pollution sites. In view of this, it proposes using the contingent valuation method and consumers’ viewpoints for the analysis. Empirical results show that after pollution remediation the respondents are willing to pay an average of $1168 per square meter, which is slightly higher than the current price of $1059 per square meter with an increase of about 10%. Therefore, prices will recover after remediation at least to the level of the surrounding area. View Full-Text
Keywords: soil and groundwater; hedonic price method; willingness to pay; pollution remediation soil and groundwater; hedonic price method; willingness to pay; pollution remediation
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Li, C.-N.; Lo, C.-W.; Su, W.-C.; Lai, T.-Y. A Study on Soil and Groundwater Pollution Remediation of the Surrounding Real Estate Prices and Tax Revenue Impact. Sustainability 2015, 7, 14618-14630.

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