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Economic Values of Low Impact Development: A Contigent Valuation Study in Hong Kong

Author(s): Ting Fong May Chui; Wing Yin Ngai

Linked Author(s): Ting Fong May Chui

Keywords: Low impact development; Contingent valuation

Abstract: Low Impact Development (LID) is a new land development approach that promotes sustainable stormwater management and reduces environmental impacts on receiving water bodies. It adopts “green” infrastructures such as bioretention systems, green roofs and porous pavements. Though gaining popularity worldwide, the experience and knowledge of LID is still limited at highly urbanized cities which typically face severe development constraints and have residents that might have different perceptions towards LID. This study evaluates peoples’perception and monetary value of LID in a highly urbanized city, Hong Kong (HK), where there have only been a few experimental LID projects. It employs the contingent valuation method to estimate the willingness to pay (WTP) of Hong Kong residents towards LID. It randomly surveys 600 participants through face-to-face interviews to estimate the WTP in the forms of public funds and surcharges on the prices of private apartments. It also identifies the reasons behind the stated WTP for both LID in public places and private properties. The results of this valuation study facilitate a cost and benefit analysis in adopting LID in HK. The identified reasons behind the WTP also carry policy implications and benefit the formulation of policies concerning LID in HK and other highly urbanized cities.

DOI:

Year: 2016

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