Abstract
A city water system improvement project (CWSIP) performs an important ecological and socio-economic function. Development of public goods and services were commonly found to have an implicit price premium on the housing market. However, there have been few studies regarding CWSIPs. This article aims to reveal the implicit price of CWSIP on house prices in Guilin, China, by using the hedonic price approach. The model was tested with a sample of 9357 housing in the urban area. Results found that housing with a view of the CWSIP, or within a certain distance of the CWSIP, received house price premiums on housing sales. The results support that the scarcity of public goods could be charged for the implicit price in related goods or services that share this scarcely characteristic. © 2017 American Institute of Chemical Engineers Environ Prog, 2017
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