The purpose of this paper is to evaluate the externalities of neighborehood environment by hedonic approach. It is found that as to quality, the increase of planting ratio which is seen at angle of elevetion from 15 to 75 degree gives positive external effect strongly, and the increase of building ratio has negative external effect, but it is eased by the extension of a tree which covers the road with leaves is about 43000 yen/squre meters, the negative value of deciduous tree, a hedge and a wall constracted by concreat boards is about 4300 yen/ squre meters, the effect of existence of building in a south direction which is more than third floor decreases the sunshine is evaluated as the value of -91500 yen/squre meters in 1995
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