Evaluate the Value of Houses around the Garbage Transfer Station Based on CVM

Zihan Yang(University College London)

Abstract

In recent years, with the rapid development of China's economy, a large number of people have flocked to the cities, which also brings more residential waste. The increased waste overloads transfer stations located near residential areas, and the continuous noise and odour affect the daily lives of nearby residents. In addition, the neighbourhood avoidance facilities represented by the waste transfer stations also reduce the value of the surrounding residents' houses. Therefore, using the conditional value method and the Tobit and Double Hurder econometric models, this article investigates the implicit value of the Fuli Resort neighbourhood under the influence of the waste transfer station through a questionnaire survey on the willingness of the residents to accept the compensation, which can be regarded as the "aversion value" of the neighbourhood due to the aversion to the waste transfer station and analyses the impact of the aversion value of the neighbourhood. aversion value" and analyses the impact on residents' willingness to accept compensation. The study found that the residents' willingness to accept compensation near the waste transfer station is 511.94 RMB/person/month, and the implicit value of the Fuli Resort neighbourhood under the influence of the waste transfer station in Qinhuai District, Nanjing, Jiangsu Province, China, is 147,950 RMB. The study found that residents are most interested in having the government rectify the waste transfer station and set sanitary standards and work norms.

Keywords

Refuse transfer station; House price; Invisible price; Conditional value method; Willingness to be compensated

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DOI: http://dx.doi.org/10.26549/jsbe.v7i3.20129