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Revealed preferences for outdoor recreation in natural areas - Czech and European perspective
Kaprová, Kateřina ; Melichar, Jan (advisor) ; Brůha, Jan (referee) ; Šauer, Petr (referee)
K. Kaprová (2019): Revealed preferences for outdoor recreation in natural areas - Czech and European perspective Abstract of the Doctoral Dissertation The dissertation thesis focuses on the investigation and synthesis of recreation welfare benefits associated with natural areas in the Czech Republic and in Europe. The dissertation thesis consists of five case studies. These represent various geographic levels of analysis: the level of one single recreation locality, the national level that takes into account large natural recreation sites in the Czech Republic (including protected areas), and a synthesis of results of studies on the European level. The methodological approach is based on the theory of environmental economics and employs non-market valuation techniques based on methods of revealed preferences, namely the hedonic pricing method and two types of travel cost modelling. In Study I, we examine how the presence and characteristics of urban greenery affect property prices in Prague. The results confirm that proximity to greenery and its area are important determinants of housing prices in Prague, which means that residents realize the positive values provided by urban greenery, including recreational ecosystem service. Benefits to residents differ with the type of greenery. Urban forests have the...
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Revealed preferences for outdoor recreation in natural areas - Czech and European perspective
Kaprová, Kateřina ; Melichar, Jan (advisor) ; Brůha, Jan (referee) ; Šauer, Petr (referee)
K. Kaprová (2019): Revealed preferences for outdoor recreation in natural areas - Czech and European perspective Abstract of the Doctoral Dissertation The dissertation thesis focuses on the investigation and synthesis of recreation welfare benefits associated with natural areas in the Czech Republic and in Europe. The dissertation thesis consists of five case studies. These represent various geographic levels of analysis: the level of one single recreation locality, the national level that takes into account large natural recreation sites in the Czech Republic (including protected areas), and a synthesis of results of studies on the European level. The methodological approach is based on the theory of environmental economics and employs non-market valuation techniques based on methods of revealed preferences, namely the hedonic pricing method and two types of travel cost modelling. In Study I, we examine how the presence and characteristics of urban greenery affect property prices in Prague. The results confirm that proximity to greenery and its area are important determinants of housing prices in Prague, which means that residents realize the positive values provided by urban greenery, including recreational ecosystem service. Benefits to residents differ with the type of greenery. Urban forests have the...
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Price of Location: The Private versus Commercial Accommodation in Selected European Cities
Houfková, Barbora ; Kocourek, David (advisor) ; Matoušek, Jindřich (referee)
This thesis investigates the relationship between the location and the price of short-term accommodation in context of European metropolitan cities. We em- ploy the econometric OLS regression with log-level functional form to estimate the influence of main determinants on the price of the accommodation. We compare hotels and apartments in determined cities. We find out that there is a negative relationship between the distance from the city centre and the price of the accommodation. Our model determines the exact rate of drop in prices due to increasing proximity from the city centre. Furthermore, we find distance from the metro station and presence of Wi-Fi in the rooms as insignificant fac- tors for our sample. Finally, we explore that people's perception of the metro station is stable with changing proximity from the city centre. In conclusion, we provide suggestions for further research based on our analyses. Keywords short-term accommodation, tourism economics, hedonic pricing model, OLS regression, location, European cities Author's e-mail houfkova.bara@gmail.com Supervisor's e-mail kocourek.david@email.cz
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The analysis of the impact of the energy performance of a building on rent of the offices in Prague
Dostálová, Jana ; Melzochová, Jitka (advisor) ; Babin, Jan (referee)
The bachelor thesis examines the impact of the energy performance of a building on rent per m^2 of the offices in Prague. The empirical analysis applies the hedonic price method and works with cross-sectional dataset of 296 observations collected during autumn 2015. The results of a regressive analysis show that the increasing energy consumption of the building has a negative impact on rents. Buildings designated as inefficient, which belong to class D and worse of energy performance of buildings, reach 24,8 % lower rent per m^2 compared to similar buildings, which are labeled with class of energy performance A, B or C. Together with some of the structural qualities of the building and the given office space's location characteristics, the energy performance of a building is one of the main determinants of the Prague offices rent levels.
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Influence of green areas on real estate prices in Bratislava
Ondrejková, Lenka ; Kaprová, Kateřina (advisor) ; Melichar, Jan (referee)
The aim of this diploma thesis is the estimation of the influence of green areas on real estate prices in Bratislava, SK. Being not a public good green areas are not market valuated which makes the decision about its size and placement in urban areas problematic. This thesis was written with an aim to evaluate the benefit of greenery and help future decision making concerning green urban areas in Bratislava. Theoretical part points out current situation of green urban areas in Bratislava and real estate market development. It also demonstrates some of the benefits coming from urban greenery and defines hedonic pricing method. Practical part is focused on greenery value estimation using HPM. It analyzes geografical data altogether with real estate data and based on five regression models using various groups of environmental variables estimates the impact of different types of greenery on the real estate prices in Bratislava.
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How Does the Completion of the Prague Metro Stations Affect Prices of Adjacent Properties?
Chmelík, Jakub ; Komrska, Martin (advisor) ; Mirvald, Michal (referee)
This thesis analyzes the impact of the newly built Prague metro stations on prices of adjacent apartments. The completion of stations improves accessibility of the city center for many areas in Prague. Impact of the improved accessibility on property prices is estimated using a hedonic price model. The dataset was created in February 2015 and contains new apartments throughout the city. The result of the hedonic model is that each minute the journey to the city center takes longer, reduces prices of new apartments by 1,15%. The total increase in apartment prices then depends on the amount of minutes by which the journey time was shortened. This result confirms the main hypothesis that the new metro stations would increase prices of new apartments in affected areas. Based on the results of the model the so called bid rent function is constructed. The shape of the function confirms the assumption made in the theoretical part of the thesis that apartment prices decrease with distance from the city center.
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House prices and and accessibility: The case of sububan area of the city of Prague
Šulai, Michal ; Chytilová, Helena (advisor) ; Rod, Aleš (referee)
The aim of this thesis was to investigate the relationship between house prices and distance to CBD. Based on the both, theoretical and empirical studies, the hypothesis, that house prices will decrease with higher distance to CBD, was defined. Dynamically developing suburban fringe of the city of Prague was chosen as the study area. The relationship was investigated within the hedonic price model based on the data sample of 697 house units advertised on the web portal sreality.cz during the June and July 2014. The main findings of this thesis are that price of the house will decrease by 1.24 percent with every additional kilometer from the city center. The distance was alternatively measured by time spent in a car in the normal traffic, during the rush hours and also by the time spent in a public transport. Values of coefficients of other control variables included in the model were mostly consistent with expectations and foreign literature.
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Factors influencing prices of rental offices in Prague
Řeháček, Martin ; Svoboda, Miroslav (advisor) ; Mirvald, Michal (referee)
The thesis is focused on selected determinants which influence price of rental offices in Prague. The paper analyses a sample of 617 offices published on sreality.cz during July 2013. Using linear regression it was found out that each kilometer of the distance from center of the capital city, price of offices decreases by 2 %. It was also discovered that offices situated in skeleton buildings are by 25 % more expensive to rent than offices located in buildings made of bricks, or there was also found out that supply of offices including a garage makes them by 15 % more expensive than offices without it. The thesis also brought a surprise when there was discovered that the cheapest offices to rent are situated in City Region of Prague 3 although it is located in centre of Prague right next to City Region of Prague 1 with the most expensive offices to rent.
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What is the effect of highway proximity on house prices in the Czech Republic?
Černíková, Kateřina ; Lahvička, Jiří (advisor) ; Mirvald, Michal (referee)
This thesis investigates the effect of highway proximity in relation to house prices. Based on theory it's assumed, that houses located near highway may be more expensive due to better accessibility to different cities. For this analysis the hedonic price model has been used on 1.055 houses located in Kraj Vysočina and in the Benešov district. Those houses had been offered on sreality.cz webpage in 2012. It has been found, that every extra minute necessary for reaching highway ramp decreases the house value for 0, 4 %, although this can be claimed for houses located farther than 1km from the highway only. If the house is located within 0 - 400 meters (straight-line distance) the price (ceteris paribus) is lower in tens of percents (c. 60%). This is most likely caused by negative externalities produced by highway. In contrast to previous studies, it hasn't been confirmed any price premium for houses located far away from highway.
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Impact of urban greenery on the property value in Prague
Kaprová, Kateřina ; Melichar, Jan (advisor) ; Vojáček, Ondřej (referee)
The main purpose of the diploma thesis is to estimate the impact of urban vegetation on real estate prices in terms of hedonic pricing method and furthermore to suggest a way how the estimated results should be implemented into decision-making within green areas of Prague. In the legal setting of Czech republic, the greenery is almost entirely provided to citizens through public budgets. As many effects of green areas do not come through markets, the decision-making about optimal quantity of greenery supplied comes to be heavily problematic. Concerning this, contibution of urban vegetation to the well-being of residents estimated in this thesis may become fundamental guide-post for public bodies. The theorethical part of the thesis is devoted to the problematics of green areas as an economic good and to the specification of urban greenery in Prague.Then the method used is shortly characterised. The practical part deals with choice of the appropriate variables representing urban greenery on the basis of relevant literature search. The main scope of the practical part is to describe and analyze property data set from Prague and finally to examine the impact of chosen environmental variables on the property prices.
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