Evaluation of the Potential of Forest Value using Hedonic Approach

Abstract

The purpose of this study is to evaluate the potential of forest value. For this purpose, hedonic appropach and satellite remote sensing data is used. This study applies 6 wards in Tokyo. The results were as follows. 1) In most cases, forest cells were positive to land price and statistically significant at the 1 % level. 2) The potential of forest value estimated G = 1899, and beta = 0.6727. 3) The potential of forest value was positive to land price and statistically significant at the 1 % level and adjusted coefficient of determination was 0.7868.