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The Impact of Parks on Property Values: A Review of the Empirical Evidence
Abstract
The real estate market consistently demonstrates that many people are willing to pay a larger amount for a property located close to a park than for a house that does not offer this amenity. The higher value of these residences means that their owners pay higher property taxes. In many instances, if the incremental amount of taxes paid by each property which is attributable to the presence of a nearby park is aggregated, it is sufficient to pay the annual debt charges required to retire the bonds used to acquire and develop the park. This process of capitalization of park land into the value of nearby properties is termed the “proximate principle.”
Results of approximately 30 studies which have empirically investigated the extent and legitimacy of the proximate principle are reported, starting with Frederick Law Olmsted's study of the impact of New York's Central Park. Only five studies were not supportive of the proximate principle and analysis of them suggested these atypical results may be attributable to methodological deficiencies.
As a point of departure, the studies' results suggest that a positive impact of 20% on property values abutting or fronting a passive park area is a reasonable starting point. If it is a heavily used park catering to large numbers of active recreation users, then the proximate value increment may be minimal on abutting properties, but may reach 10% on properties two or three blocks away.
... The informal nature of CMOSs makes collecting data on the number and locations of CMOSs challenging for researchers, which is reflected in the current limited body of research on urban greenspaces. Academic research on urban greenspaces focusing on parks and their economic impact on house prices is widely documented in the literature using hedonic price models [7][8][9]. However, research on the impact of CMOSs on house prices has been limited to community gardens, the most well-known type of CMOS. ...
... The existing literature generally shows that parks have a positive economic impact on house prices in the surrounding communities. Foundational studies by Crompton found that houses near parks had higher prices than houses at greater distances from this amenity [7,8]. Crompton posited that the value of a park is capitalized in the aggregated value of nearby properties and called this effect the "proximate principle". ...
... Although dummy variables were used to describe the distances to parks and CMOSs, their correlations were reviewed for completeness. The park and CMOS distance variable correlations were not significant, and the size of park and CMOS variables had significant but low correlations with house sales price [7,10]. The variable correlations were also used to detect multicollinearity in the model. ...
Urban greenspaces, such as parks and other public vegetated spaces, provide respite from the built environment for residents and visitors. Lesser-known urban greenspaces are community-managed open spaces (CMOSs), such as play lots, community gardens, and memorial gardens. This study investigated the effect of the distance to and size of parks and CMOSs on residential house prices in Baltimore, MD, in 2016–2017 using a hedonic price model. This is the first study of an urban city comparing parks and CMOSs. The study included 21,116 houses sold and revealed that park proximate price premiums ranged from 7.73% to 11.01% for distances of up to a 1/2 mile, and the CMOS proximate price premiums were 8.69% and 8.96% for distances of up to 1/8 and 1/4 miles, respectively. Moreover, both parks and CMOSs revealed a buyer preference of a 1/8 to 1/2 mile distance from these urban greenspaces. Small- to medium-sized parks, less than 9.65 acres, increased house prices by approximately 2.36%, and small CMOSs, less than 0.24 acres, increased house prices by 5.93%. These results confirm that parks and CMOSs provide economic benefits in addition to their social, health, and well-being benefits and suggest that CMOSs are a viable economic development strategy for communities.
... Trees enhance the aesthetic appeal of neighbourhoods and streets, resulting in higher property values. Studies show that homes located near well-maintained trees or parks can see a rise in their market value by up to 10-20% (Crompton, 2001;Kardan et al., 2015). This is not necessarily only a positive impact, as higher property and rental prices can push out lower-income residents from neighbourhoods, known under the term 'green gentri ication' (e.g., Anguelovski et al., 2022). ...
... This translates into lower utility bills for residents and businesses (Hsieh, 2018;Sailor, 2008). Well-maintained urban forests attract tourists and provide recreation opportunities for residents, contributing to local economies (Crompton, 2001). Parks, botanical gardens, and tree-lined streets enhance the aesthetic value of cities, making them more attractive places to live and visit (Kaplan, 1985;Nasar, 1992). ...
This final report from the project Yggdrasil - The Living Nordic City shows how the 3+30+300 principle or rule can be used in support of urban greening and the implementation of nature-based solutions. It includes case studies of Nordic municipalities and considerations on tree species diversity and meeting the needs of more vulnerable populations.
... The highest shares of the population living in a household owning their home were observed mainly in Eastern European countries-Romania (95 percent), Slovakia (93 percent), Croatia (91 percent), and Hungary (90 percent)-while, in countries with higher levels of social rented housing, the share of tenants was much more significant-Germany (53 percent), Austria (49 percent), and Denmark (40 percent). In Italy, 74.3 percent of the population lives in an owner-occupied home [1]. For Italians, a home is a safe haven, particularly after the experience of COVID-19 (91.9%), and it also reflects their identity and personality (83.1%). ...
... The significant impact of urban green spaces on property prices is highlighted in different studies [39,73]. Crompton [74] conducted a review on this topic, examining 30 cases, and found that in only a small fraction (5 cases) proximity to a park was not a key factor in increasing apartment prices. Trojanek et al. [39] analyzed 1438 housing transactions and listing prices in Poznań, matching the data based on location (street name), dwelling area, and position within the building. ...
Europe faces a situation where housing represents the main savings for most of the population, while the majority of homeowners are seniors aged over 65. The desire to supplement pensions has led to a growing interest in generating income from these savings, with bare ownership emerging as a notable option. This solution makes it possible to transfer the ownership of the home while maintaining usufruct rights for the duration of the owner’s lifetime. This paper examines the status of bare ownership in the city of Rome by web scraping the house offers published on web portals and segmenting those offered as bare ownership. Machine learning analysis based on neural networks and binary logit regression allows for the observation of the particular behavior of the housing supply in bare ownership; it shows the different intrinsic and extrinsic characteristics that determine this Real Estate segment. The findings highlight the development of a growing market strongly influenced by the location of assets. These findings provide valuable insights for both investors and urban planners regarding changes in urban dynamics processes.
... One of its indirect benefits is reflected in the surrounding real estate market [2,3]. The majority of studies conducted around the globe concur that the existence of GS has a considerable positive effect on housing prices (HP) [4][5][6]. The relationship between GS and HP has been the subject of extensive investigation in a number of regions, including the United States [7][8][9][10], the United Kingdom [11,12], South Korea [13], Finland [14], Denmark [15], and China [2,[16][17][18][19][20], which confirm the important economic and social value of green space in urban and human habitats. ...
... A study by Panduro and Veie [15] found that GS with high accessibility ratings had a significant positive impact on HP. Crompton [6] also points out that the contribution of parks and open space to house prices diminishes with distance. Wu [20] examined the accessibility of a variety of GS in Shenzhen, particularly communityowned parks and city parks, and found that accessibility had a significantly positive impact on surrounding real estate. ...
As an important part of the urban ecosystem, the value of green spaces (GS) has become increasingly prominent. However, the interaction effect of GS characteristics are still not clear enough. This study explores the premium effect of different types of GS on housing prices (HP) in Beijing. The results show that all types of GS have a significant premium impact on HP, among which there are obvious distance and area thresholds for park GS. The distance range of municipal parks for premium effect is within 2000 m and, the closer to a community, the higher the value. In contrast, community-level parks only have a premium effect within 1500 m, and the most obvious distance is 500–1000 m away from the community. The area of parks has the greatest impact on HP when it is 20–50 ha, and municipal parks larger than 300 ha or community parks smaller than 2 ha do not produce a premium effect. Furthermore, GS surrounding and within communities can serve as substitutes for community-level parks, while municipal parks are irreplaceable and can synergistically influence HP increases with all types of GS. The study offers new findings on the influencing thresholds and interactive effects of GS, providing decision-making guidance for urban construction.
... For example, a poorly maintained park would eventually become a space of ruin and refuse leading to the spread of diseases, ultimately harming house valuation. Similarly, the value of a home diminishes if it is overgrown with weeds (Crompton, 2001). The Sustainable Development Goals (SDGs), especially SDG 11 which focuses on "Sustainable Cities and Communities" advocates for facilitating universal access to safe, inclusive, and accessible green and public spaces, particularly for women, children, differently abled and senior citizens. ...
... For example, if an area is already rich in greenery and natural forests, then parks hold little value to people. Another potential factor is that when the value of a property rises, it may lead to higher property taxes which might dissuade people from buying the property (Crompton, 2001). Similarly, the significance of parks to people differs across age groups with parks being more significant to older people than younger people who would mostly be busy in building their careers. ...
Impact of Data Transparency and Accessibility on
the Accuracy of Fair Value for Financial
Reporting Purpose in the context of
Information Asymmetry
... The management of green field potentials has become a call for concern in the urban areas around the world because of its economic, social, cultural and environmental benefits to human life on earth (Chen et al., 2008;Jim and Chen, 2006;Crompton 2001 as cited in Mensah 2014). These green fields are considered as spaces covered with natural or artificial vegetation, as opposed to spaces that are paved or covered with buildings (Fratini and Marone, 2011). ...
... Socially, green spaces have been found to create land uses that provide avenues for recreation, support the development of children, and also promote social interaction and cohesion (Cohen et al., 2008;Isenberg and Quisemberry, 2002;Mensah, 2014). In the economic perspective, green field spaces offer more job avenues to many individuals who have the opportunity to work in parks, botanical gardens, other related businesses and generation of revenues to government (Chia and Nkwemoh, 2023;Aldous, 2005;Crompton, 2001). In the environmental realm, it has been observed that green spaces help to ameliorate local climate, improves air quality, conserve biodiversity and ornate cities (Fam et al., 2008;Baycan-Levent et al., 2009). ...
Green field constitute an intrinsic environmental resource which mankind depend on for their socioeconomic , cultural and environmental values. Despite their importance, urban green spaces have been depleting as the years go by in Bamenda due to anthropogenic factors. Currently, there exist the lack of evidence needed to fully understand the motives of community attachment to the valorisation of green field potentials in Bamenda. This paper seeks to bring into lamplight the motives of community attachments to the valorization of green field potentials in the urban and peri-urban areas of Bamenda. Through a survey by help of 394 copies of questionnaire, interviews, focus group discussions and field observations, the results showed that socioeconomic , cultural and environmental factors do influence population attachments to the valorisation of green field potentials in Bamenda. These green field potentials span through patches of natural expanses, sacred forest, shrines, cemeteries, city gardens, roadside, street line and residential and institutional outdoor green field potentials. The study recommended that the government should promote bottom-up conservation strategies through active involvement of the local population during decision and policy formulation and implementation for holistic conservation of green field potentials.
... While traditional economic analyses often focus on office spaces, industrial zones, and commercial hubs, this study sheds light on the often-overlooked yet critical role of public spaces, such as parks, plazas, and streets, in shaping urban economic activities (Jacobs, 1961). These spaces play a significant role in enhancing the vitality, resilience, and sustainability of cities by fostering informal economies like street vending (Bromley, 2000), influencing real estate values, supporting local businesses, and promoting tourism (Crompton, 2001). Additionally, public places serve as cultural and social hubs, fostering community cohesion and attracting investments (Gehl, 2011). ...
... Moreover, the public places were found to positively impact nearby property values, confirming Crompton's (2001) study suggesting that parks and public spaces can lead to property value appreciation in their vicinity. ...
This study addresses the economic significance of public spaces in the Philippines and aims to contribute to the development of a comprehensive urban management plan. Motivated by a recognized deficiency in strategic planning for public areas, the study investigates economic activities, assesses their impact on the local economy, businesses, and tourism, and proposes sustainable urban development solutions. Participants from diverse industries provided data through surveys and interviews, employing a mixed-methods approach. Findings reveal the underutilization of public spaces despite their substantial contributions. The study proposes holistic urban management solutions, including physical design improvements, support for informal enterprises, tourism promotion, and community engagement. This research underscores the importance of addressing strategic planning gaps for sustainable urban development. The abstract succinctly captures the research problem, purpose, methodology, main findings, and conclusion, offering valuable insights into the economic potential of public spaces and their relevance to urban management planning in the Philippines.
... returned", adding up its influences on land and property values, labor market employment and productivity, flood alleviation, climate change, health, tourism, and quality of place [15]. In fact, the capitalization of green spaces into the value of nearby properties [16] is also found in greenways [4,17,18]. For instance, after reviewing 20 hedonic analyses, a meta-analysis suggested that greenways can increase proximate property values by 3-5% [4]. ...
... Described as the process of capitalization of green spaces into the value of nearby properties, the "proximity principle" has been the basis of studies of property value increments associated with parks, green spaces, and, in particular, trails and greenways [16]. Some scholars optimistically see proximity to greenways and green spaces as an important factor of environmental amenities and expect a linear positive correlation with property values. ...
Greenways are networks of green corridors of various widths that have attracted increasing scholarly and policy interest due to their economic influence on proximate property values. However, most existing studies have focused on community-scale greenway projects. On the urban scale, in particular, there is a lack of understanding of the heterogeneity of greenway economic influences on property values. In Chengdu, China, the recently developed Jincheng Greenway is a special case, characterized by large-scale green spaces and value capture policies. Through hedonic pricing analysis, we examined the influence of the Jincheng Greenway on proximate properties based on 106,328 transaction records of preowned apartments between January 2017 and December 2020. Empirical results show that apartments along greenways have higher prices compared with apartments 500 m away. However, proximity to a greenway does not necessarily lead to higher prices because apartments located 500 m–1 km from a greenway will benefit more from greenways than those located within 500 m. Moreover, compared with the assumed increment in the value capture policies, the actual increases were smaller than the policy expectations. As a result, both the increase in property value and the areas influenced by the greenway deviated from what was anticipated in the original land value capture policy. From this perspective, this study contributes to examining the economic benefits of citywide greenway projects in the Chinese context and provides essential evidence for future land value capture policies related to greenway development.
... As they offer opportunities for a wider range of recreational activities they may hold higher value compared to smaller ones. Larger parks that are better able to cope with larger numbers of visitors and may contain quieter areas that in general have been found to be more attractive to households (Crompton, 2001). Tyrväinen (1997) indicated that while large urban forests had a beneficial impact on housing prices, the impact of small forest parks was unclear. ...
... In previous studies, the influence distance from neighbourhood parks on house prices was found to differ substantially; ranging from 150 m for smaller parks to around 600 m for community-sized parks (as documented in the review studies of Crompton, 2001;Crompton & Nicholls, 2020). A recent study in Beijing revealed that the majority of visitors travels <2 km to visit a park, while the majority of those who come walking travel <1 km (Tu et al., 2020). ...
Urban parks and public open spaces enhance the quality of life for citizens by offering many different services. This is especially important in growing metropoles, where green space is ever scarcer. We assess the impact of park proximity on house prices, paying specific attention to the impact of park size, the role of other green and blue spaces as possible substitutes, and changes in valuation over time. The study relies on an extensive database of residential property transactions of the past 10 years for the area inside the 5th ring road of Beijing. The data captures the housing market in a dynamic period of rapid population increase and surging house prices. We find that large parks have a much larger impact than small parks. For parks larger than 20 ha, price increases can be as large as 6-7 %, compared to <1 % averaged over all parks. Park value decreases significantly, however, with increasing availability of other green and blue spaces, confirming the idea that both are substitutes. Finally, we observe that the appreciation of parks increases over time, and most so for large parks.
... The first stage involved assessing the quality of the greenery, and the second stage compared this assessment to the economic value of an average flat. The effect of greenery on the price of housing has been shown in many studies [5,[14][15][16][17], but the way in which the price of housing determines the quality of residential greenery has not been the subject of much research. More expensive housing is frequently built near public green areas [18], but how do developers shape the residential greenery in such locations? ...
... Sustainability 2023, 15, 9997 ...
Green areas positively affect human health. It applies in particular to greenery in a direct neighbourhood of the housing. We analysed new housing estates in Poznan, Poland. Greenery quality was assessed according to developed factors, based on data about the area of the greenery in comparison with the area covered by hardscapes within the site; pre-existing greenery inventories; new greenery inventories; green area functions and accessibility. In the second stage of research, we compared data about greenery quality to information concerning economic value of the statistic flat in the estate. The average area of greenery in relation to the area of the plot was 40.16% for prestigious investments and 41.62% for less prestigious ones. The median value of WU (‘Socialisation rate’ indicator designed for this research) for prestigious investments was 0.035 and for less prestigious investments it was 0.226. The research showed that the price of flats does not affect the quality of residential greenery. Less prestigious (cheaper) flats have the same or even better access and quality of greenery in the estate. Developers do not take actual actions in the field of environmental compensation, which leads to lowering of the quality of greenery and public space.
... TCM is a nonmarket value assessment method for tourism resources that is based on consumer choice theory. The zonal TCM (ZTCM) is used to calculate the value of a destination on the basis of data such as the tourist's traveling area, the traveling rate of the traveling area, the average traveling cost from the beginning to the destination, and traveling time [33,34]; this study uses it to calculate recreation value. The benefit transfer method refers to the method of transferring the existing resource value evaluation results (often refers to study sites) to the area to be studied (commonly refers to as political location) and obtaining the value of the policy resources. ...
... where, within the scope of property appreciation, HV is the total appreciation of Xixi National Wetland Park in its affected area; HP i is the per-square-meter appreciation of the ith type of residential area (RMB/m 2 ); A i is the total floor area of the ith type of residential area (m 2 ); and i is the type of residential area. Green spaces have a positive impact on the properties around them, and people are willing to pay higher prices to buy properties near a park [14,[32][33][34][35][36][37][38][39]. Additionally, the effect of appreciation of green spaces on real estate decreases with the increase in distance from them, until it disappears. ...
Wetlands are valuable urban resources and can provide various ecosystem services for cities. In order to face the continuous urbanization and market economy environment, relevant government-related management, decision-makers, and stakeholders can make objective and comprehensive value judgments and decide the fate of urban wetland resources. Our quantitative approach to the ecosystem services value provided by wetlands produced clear, direct, and persuasive monetization data. The assessment of the net value of ecosystem services (NES) provides one such method. Considering the transition of the Xixi Wetland into the Xixi National Wetland Park in Hangzhou as an example, we first determined the calculation model of its NES. Second, we utilized the equivalent factor, contingent valuation, travel cost, and benefit transfer methods to calculate its value of ecosystem services (VES), service cost, and NES. The results are shown below. In 2016, the VES of Xixi Wetland park was RMB 16.973 billion, NES was RMB 16.938 billion, and service cost was RMB 34.8158 million. The value of cultural services was the main contributor to NES, which accounted for 99.27% of the total. Real estate appreciation, cultural heritage, and recreational value were the main contributors to its cultural service value. Third, through the scenario comparison, we concluded that the NES of the protective development model (the wetland park mode) adopted by Xixi Wetland was RMB 3.186 billion more than that of the protection model. In other words, the protective development model is more practical and sustainable for protecting the Xixi Wetland. Finally, the limitations and shortcomings of the study are summarized.
... Ini juga menciptakan peluang bagi bisnis lokal, seperti kafe, restoran, dan toko yang dapat memanfaatkan lalu lintas pengunjung yang meningkat. Menurut Crompton (2001), taman dan area hijau yang berkualitas dapat berkontribusi pada pertumbuhan ekonomi lokal dengan menciptakan lapangan kerja. RTH tidak hanya menyediakan kesempatan untuk rekreasi dan relaksasi, tetapi juga dapat dijadikan tempat untuk berbagai acara dan festival yang dapat meningkatkan kegiatan ekonomi di sekitarnya. ...
menguak tabir hubungan
yang tak terpisahkan antara manusia, bahasa, dan lingkungannya. Sebuah
perspektif yang kian relevan di tengah krisis ekologi yang melanda dunia saat
ini. Melalui kolaborasi apik antara Lembaga Swadaya Penelitian dan
Pengembangan Pendidikan Matutu, Badan Riset dan Inovasi Nasional, dan
Universitas Balikpapan, buku ini mencoba menjembatani jurang pemisah antara
teori dan praktik, antara ilmu pengetahuan dan kearifan lokal.
Ekolinguistik, sebagai sebuah bidang ilmu yang relatif baru,
menawarkan sudut pandang segar dalam memahami bagaimana bahasa
berperan penting dalam membentuk persepsi, sikap, dan perilaku manusia
terhadap lingkungan. Lebih dari sekadar alat komunikasi, bahasa adalah
cerminan budaya, nilai-nilai, dan kearifan lokal yang diwariskan turun
temurun. Buku ini kami susun dengan harapan dapat menjadi jendela
pengetahuan bagi para pembaca untuk menyelami lebih dalam dunia
ekolinguistik. Melalui paparan yang komprehensif dan bahasa yang mudah
dipahami, kami mencoba mengurai konsep-konsep dasar ekolinguistik, serta
mengaplikasikannya dalam berbagai konteks, mulai dari isu kerusakan
lingkungan, perubahan iklim, hingga pelestarian keanekaragaman hayati.
... Properties adjacent to parks and green environments often command higher prices, reflecting a premium that buyers are willing to pay for access to natural, wellmaintained outdoor spaces. 10,11 This increase in property values not only benefits homeowners but also enhances the municipal tax base, providing cities with greater financial resources to fund public services. ...
Urban green spaces play a crucial role in enhancing the quality of life in cities, offering a myriad of environmental, psychological, and economic benefits. This article explores the integral role of these spaces in urban environments, highlighting their importance in promoting biodiversity, reducing urban heat, improving air quality, and enhancing community well-being. Through a detailed examination of various global case studies, the review underscores the successful integration of green spaces into urban planning and the substantial positive impacts on city residents and ecosystems. The challenges of land use conflicts, maintenance, sustainability, and accessibility are addressed, offering a comprehensive overview of both the hurdles and opportunities in optimizing urban green spaces. The review advocates for robust strategies to overcome these challenges, emphasizing the need for increased community involvement, innovative use of technology, and strategic policy implementation to foster sustainable and inclusive urban green environments.
... We thus draw upon a very large body of related hedonic literature including, for example, energy efficiency in commercial properties (Fuerst and McAllister 2011), the rent premium associated with smoking (Gedikli et al. 2023), proximity of property to subways and trains networks (Keeler and Stephens 2023;Wang 2017;McMillen and McDonald 2004), to canals, lakes and water bodies (Gibbons et al. 2021;Abbott and Klaiber 2013), and various types of open space and recreational facilities (Gibbons et al. 2014;Abbott and Klaiber 2010;Asabere and Huffman 2009;Cho et al. 2008;Crompton 2001). Not all necessarily find a positive link, e.g., proximity to wind farms or neighborhood crime attracts negative value to property (Sunak and Madlener 2017; Gibbons 2015; Lynch and Rasmussen 2001). ...
Using hedonic and spatial regressions, this paper estimates a significantly larger association between proximity to bicycle networks and property prices than previously reported. As cities face increasing challenges of congestion and pollution, many are implementing policies to integrate bicycle facilities and other active modes of transport. However, policymakers are slow to support these initiatives and remain skeptical due to the investment costs required and appropriation of limited land. Drawing on a large dataset of approximately 253,000 transactions in Greater Manchester, over a 9-year period, we find clear evidenced that a 1 km reduction in distance to the nearest bicycle network is associated with property values being around 2.8% higher, on average, and 7.7% higher in the central borough of Manchester. We also provide an applied example to rank new bicycle routes by comparing their benefit-to-cost ratios and a discussion on the property tax system.
... Urban green spaces are important components of the urban environment and are critical to meeting the challenges posed by rapid urbanization and climate change. They provide significant environmental [1][2][3][4][5][6][7], psychological [8][9][10][11][12][13], social [14][15][16][17][18][19], and economic [20][21][22][23] benefits that improve the quality of life in urban areas. The strategic planning and management of urban green spaces is therefore crucial for strengthening the resilience and sustainability of cities. ...
Urban vegetation plays a crucial role in meeting the challenges posed by rapid urbanization and climate change. The presence of plants and green spaces in urban areas provides a variety of environmental, social, and economic benefits. Understanding how users perceive ornamental plants in public green spaces and what their preferences are for certain vegetation elements is extremely important for planning and designing functional and aesthetically interesting urban landscapes. Although landscape experts sometimes use their creativity to create new trends, it is important not to ignore the attitudes and preferences of the public, who sometimes have a different opinion from that of the experts. The aim of the study was to determine the perceptions and preferences of the public and landscape experts for different vegetation elements and the differences in attitudes between these two groups. The study was conducted in Croatia in April 2012 using an online survey (n = 348). The results showed that trees were the most preferred vegetation element and that the public preferred flower beds and lawns to a greater extent than the professionals. All respondents perceived vegetation elements as volumes (trees, shrubs, and hedges) and plains (flower beds and lawns). In addition, respondents perceived two basic types of flower beds according to the features that characterize them: conventional and sustainable. The results show that users perceive the functional and spatial characteristics of the different vegetation elements, which is very important for the design of functional and sustainable urban green spaces.
... An abundance of literature using hedonic price modelling supports this fervor through estimations of the extent to which urban green spaces affect residential real estate prices. Early studies from the 1980s and 1990s across American cities quantitatively confirmed historic observations from early English parks that urban green spaces make a notable contribution to proximate property values (Crompton, 2001). During the 2000s and 2010s, more studies have verified these results (Conway et al., 2010), also considering different typologies like community gardens, greenways, and forests. ...
With the branding of a city as green increasingly serving to amplify attractiveness andinvestment while also contributing to patterns of green gentrification, the incentive to link real estate development and green space is growing. Yet, little is known about the extent to which this incentive has generated a spatial relationship between green space and newly constructed housing at the city-wide level and in ways that can be compared between cities. This gap in knowledge makes it difficult to precisely indicate the implications for housing rights, affordability, and broader goals of urban green justice. In response, this study explores quantitative trends in 26 mid-sized North American and European cities, utilizing greening and real estate data from the last three decades. Results show that greening becomes a more significant driver of development over time and that operates to attract development in a growing number of cities, although more so in US cities. Next, in order to contextualize the quantitative results, we employ qualitative field data gathered through field work in Atlanta and Amsterdam. We contrast the greening and development trajectories of these cities by examining implications for housing rights and social justice, accounting for the fact that those cities exhibit different green gentrification trends, as demonstrated in the literature. Green gentrification is indeed a proxy for understanding housing justice implications in the relationship between greening and development. We find that Amsterdam’s legacy of housing rights and policies acts as a protection against growing inequities embedded in the relationship between urban greening, development, and gentrification. In contrast, Atlanta embodies patterns of historic racial segregation and continued gentrification of Black neighborhoods which urban greening has further intensified. This analysis shows that greening can attract real estate development across a city, but the implications need not always be harmful to social equity.
... It is hypothesized and proved using hedonic models in many researches that urban green spaces in the vicinity influence the buyer's choice positively [8]. On contrary, ill-maintained green spaces perform as dis-amenity too and perceived as a negative parameter [9,10] to property consumers in specific cases [11]. It is also evident that administrative revenues can be increased using the potential of green spaces in property tax or pricing [9]. ...
Highly densified Metropolitan cities drive the property market with demand from all strata of income groups. The individual's choice of property is highly calculative based on tangible and intangible traits of the property asset. These traits do influence property prices in positive or negative ways based on the behavior of consumers. The structural characteristics give a positive lift to prices, whereas qualitative ones vary across consumers, one of which is urban green spaces associated with properties. This dynamic behavior of consumers for valuing the urban green spaces drives the property prices. This qualitative facet is the major source for consumers of properties considering the high demand and urban green spaces contribute substantially to the value addition of these properties. The research reflects the impact is significant in metropolitan cities and narrows down in countryside areas. The paper assimilates and analyses the literature of 185 peer-reviewed articles with emphasis on empirical studies existing on the study varying across countries and continents to determine the value of urban green spaces to the consumers. Its analysis the web of knowledge across influencing parameters and their contributions in guiding consumers' choice of their habitat. A large literature appraises research done on the topic globally to prepare a strong platform for a similar study in unexplored cities in other parts of the world. The article is a part of Doctoral research on "Framework for Assessing the Impact of Neighbourhood green spaces on Prices of Residential Properties, Case Study: Noida."
... It is hypothesized and proved using hedonic models in many researches that urban green spaces in the vicinity influence the buyer's choice positively [8]. On contrary, ill-maintained green spaces perform as dis-amenity too and perceived as a negative parameter [9,10] to property consumers in specific cases [11]. It is also evident that administrative revenues can be increased using the potential of green spaces in property tax or pricing [9]. ...
... De la misma forma, los trabajos centrados en la crítica a la renovación urbana como forma encubierta de expulsiones gentrificadoras de barrios centrales ha considerado elementos normativos como fuente de análisis para observar procesos como estos (Kuyucu, 2014;Hou et al., 2018). No podemos dejar de lado la turistificación, que en los países del Mediterráneo europeo se ensambló a la economía local y cuentas nacionales con tal firmeza que les obligó a legislar acerca de las viviendas turísticas y el derecho de sus propietarios por arrendarlas a terceros bajo la más amplia de las libertades (Gotham, 2005;Crompton, 2001). ...
El libro se compone de tres secciones que explican, respectivamente:
1. Cómo se constituye la propiedad.
2. La relación entre la planificación urbana, la administración municipal y la propiedad y finalmente.
3. Algunas relaciones entre los pueblos indígenas, las ciudades y la propiedad.
A partir de casos aplicados a realidades opuestas a las del Sur Global, Blomley ofrece categorías, rutas y reflexiones para organizar una epistemología de la norma en el territorio. Los temas que aborda establecen agendas intensas de trabajo interdisciplinario y reponen la cuestión normativa en las disciplinas que estudian el espacio.
... Our findings provide strong evidence of the occurrence of the proximity principle in the study site, whereby proximity to urban green spaces influences the value of nearby properties, as demonstrated by other studies (e.g., [47,54]). Specifically, we found that a unit increase in distance from a small-or medium-sized park or forest decreases apartment prices, whereas the distance to large parks or forests had a positive effect on apartment prices. ...
Urban green spaces play a vital role in improving the quality of life and well-being of urban residents. However, their economic benefits in different spatial contexts within highly urbanized areas remain a critical yet understudied topic. This study delves into the economic value of urban green spaces in Cheongju City, Republic of Korea, and investigates the distance-decay features associated with the proximity of green spaces to residential properties. Two spatial econometric models were employed to address these questions: the spatially autoregressive (SAR) model and the generalized additive model (GAM). The SAR model was used to assess the economic benefits of urban green spaces, whereas the distance decay of these benefits was examined with the GAM. Empirical analyses revealed that small-sized parks or forests under 20 ha hold greater economic value when in proximity to residential areas compared to medium-sized parks or forests between 20 and 200 ha. Conversely, large parks or forests over 200 ha appeared to have a disamenity effect, negatively impacting property prices when in close proximity. The GAM’s smooth functions illustrated that the distance-decay effect was shorter for small-sized green spaces and exhibited an inverted U-shape for large-sized ones, resulting in a negative benefit of proximity. Our findings suggest that urban green spaces have a positive impact on property prices, but this effect may not apply uniformly to large-sized parks or forests. Therefore, to enhance the residents’ welfare, green infrastructure policies should prioritize the provision of accessible small- and/or medium-sized parks or forests near residential areas.
... Parks are public places that provide citizens with areas that are beneficial to both physical and mental health [6], since contact with nature helps to alleviate illnesses related to lifestyle by providing areas with vegetation, health assets and promoting socialisation [7]. Also, they fulfil significant environmental functions such as improving the air quality [8], mitigating the urban heat island effect [8][9][10] and reducing noise pollution, inter alia [8]. ...
... Educational programs in recreation areas can enhance community knowledge (Stein, Denny & Pennisi, 2003). Proximity to well-maintained recreation areas can increase property values in a community, which can benefit homeowners and the local tax base (Crompton, 2001). Recreation areas help preserve green spaces, conserve biodiversity, and improve air quality. ...
Recreation areas are open areas where urban people spend their free time. There is a lack of areas where residents of Büyükkabaca sub-district can establish social togetherness, spend their free time and engage in recreational activities. Within the scope of this study, Kargılı Recreation Area Landscape Design Project was prepared by the academic staff of Süleyman Demirel University Faculty of Architecture Department of Landscape Architecture upon the request of Büyükkabaca Municipality. The recreation project included cafes, picnic areas, observation terraces, car parking lots, prayer areas, restrooms, children's playgrounds, and controlled entry and exit gates. In the planting design process of the project, native species of the region that use water more effectively or exotic species adapted to the region were used. The problems encountered during the project design process were stated and solutions to these problems were suggested. Additionally, detailed information is given about the usage areas and facilities in the project.
... From the hedonic housing valuation literature in urban economics, we draw upon the longstanding observation that the market values the bundle of amenities and disamenities associated with the environs of residential properties through its capitalization of them into sales price premiums or discounts, respectively (Freeman 1993;Lewis and Landry 2017). A large body of work has documented how much prospective homebuyers are willing to pay for better natural attributes like views, climate, and air quality and superior human-made attributes like parks, recreation centers, and schools (e.g., Lansford and Jones 1995;Lutzenhiser and Netusil 2001;Crompton 2001;Bin 2005). Again, however, we know little about how the housing market responds to dam removal. ...
Vast interracial differences in wealth are well-known. We investigate a previously unexplored source of such differences—removal of obsolete dams—thereby opening a new frontier of environmental racism studies. Specifically, we identify contexts in the USA where the pattern of dam removals has exhibited disparate impacts favoring Whites, then quantifying the degree to which these benefits accrue disproportionately to Whites through enhanced home values. Using data about large USA dams, we search for disparate impact by estimating linear probability models—stratified by region and ownership—of which dams were removed. We find that the probability of a dam being removed from 2010 to 2018 is positively associated with the proportion of proximate White residents only in the case of dams owned by local and state governments in the South. We then employ an adjusted interrupted time series regression model to quantify that proximate home values were enhanced 4% by the removal of the aforementioned dams. Aggregating this gain across all owner-occupied dwellings by racial/ethnic group in areas where dams were removed, we find a 7700 per Nonwhite homeowner. We conclude that this represents a clear and substantial case of environmental injustice that calls for revisions in regulatory frameworks and management practices governing dam removals.
... It has been shown that green infrastructure -'an interconnected network of green space that conserves natural ecosystem values and functions and provides associated benefits to human populations' (Benedict & McMahon, 2002: 12) -contributes to increasing property values. The number of trees, parks and open green spaces (Crompton, 2001) in particular, affect the valorization of a place whereby the social equity is perhaps unintendedly devalued and environmental gentrification encouraged (Checker, 2011;Eckerd, 2010). Such observations go hand in hand with the most recently proposed political economy of environment looking at environmental challenges and economic issues 'through the lens of power inequality' (Laurent & Zwickl, 2022: 2 after Boyce, 2002. ...
In the wake of the ‘climate apocalypse’ global discourse, the environmental agenda of the European Green Deal and the overarching objective for the European Union are to deliver a high level of protection and improvement of the quality of the environment. European cities are under pressure to reinvent urban environments and develop resilience to environmental risks. This paper looks at semiotic material appearing in Essen, a city in Germany awarded the European Green Capital title. Grounded in the multimodal social semiotic approach and ecolinguistics, the paper investigates strategically emplaced ‘green’ semiotic material which shape environmental values and privilege. The paper illustrates the political economy of city clean-ups which every so often result in questionable environmental choices and fail to alleviate social inequalities. The analysis ultimately shows how semiotic forms of sustainability are evidently implicated in the creation of urban eco-arenas accentuating the socioeconomic stratification and privileges of valorized places.
... Although empirical data on property values and buyouts is scarce, we can draw parallels with research on property values and amenities. This robust body of literature indicates that increased urban canopy cover positively impacts property values (Dimke et al., 2013) as do proximity to parks (Crompton, 2001). Therefore, appearance and maintenance need to be considered in tandem with utility. ...
... The local social data identify lower satisfaction with attributes such as inadequate quantities (provision), smaller spaces (size), poor maintenance, less vegetation, and the lack of amenities. These attributes have been identified as undesirable in previous studies, leading to negative perceptions [4,88,92], hence affirm the need for the planning and management of greens, including in the studied context. Attributes such as size and quality impact visitation, with a greater preference for well-maintained and high-quality greens [61]. ...
In rapidly expanding Indian cities, the current provisions for public urban green spaces (PUGS) falls below the minimum standards recommended by the WHO, linked with the well-being of urban dwellers. The local authorities are struggling to fulfill the supply side gap, with a disparity in PUGS provisions. Currently, the provisions focus on fulfilling the prerequisites identified by the planning agencies and do not appropriately address the urban greenspace demands. However, effective planning has been emphasized as a way to respond to the diverse, competing and changing demands of PUGS, allowing the incorporation of the needs and preferences of urban dwellers in the planning and management of PUGS to help determine their multifunctionality, usefulness, and popularity. In response, this study attempts to capture the demands of urban dwellers through local social data for neighborhood PUGS of the fast-urbanizing Nagpur. We attempt to assist local authorities in better understanding the provisions for planning and managing PUGS that can fulfil the growing PUGS needs of urban dwellers. Via a social survey of users and residents, we capture visitations, usage, activities, motives of visits, and perceptions about neighborhood PUGS characteristics. The findings highlight the determinants that influence the usage and favored activities. Urban dwellers have a strong tendency to use neighborhood "parks and gardens" due to their convenient proximity, emphasizing how crucial their location is in shaping urban residents' engagement with these spaces. The socio-demographics shape the preference, and the locals hold negative perceptions about size, vegetation, amenities, as well as maintenance. The identified determinants (access and availability), influencing factors (socio-demographic), and the barrier to usage (negative perceptions) need prioritized attention from the local authorities to accommodate the diverse and competing demands of different subgroups of the urban dwellers.
... Although such developers and their commercial interests are being challenged, including in Poland, the playing field remains uneven (Domaradzka, 2022). In countries where property taxes are related to property values, local authorities sometimes seek to fund the maintenance of parks that raise property values through property tax revenues (Crompton, 2001). Such a tax mechanism or some other form of making the developers pay for the benefits they obtain would conform with broader claims that those who benefit from nature should pay for how they capitalise on it (Kronenberg and Bocian, 2022). ...
... That is, rent regulation makes it difficult to determine households' willingness to pay for various housing characteristics. Traditional market analysis tools, such as the hedonic price/rent equation, are ineffective in this context (Crompton, 2001;Mandell & Wilhelmsson, 2011). Instead, researchers often use more qualitative methods, such as questionnaires, to determine households' preferences and willingness to pay for different housing attributes (Opoku & Abdul-Muhmin, 2010). ...
... Therefore, these issues can directly or indirectly affect the value of land parcels, where daily human activities occur. In an assumption of the existence of an interrelationship between UQoL and land price, most reviewed studies are limited to several dimensions of the UQoL and their impact on housing or land price (i.e., one-way relationship) (Crompton, 2001;Kim & Goldsmith, 2009;Kohlhase, 1991;Liebelt et al., 2018;Morales et al., 2019). This research will partly fill the gap by using the land price as input for calculating the UQoL index from the viewpoint of SQTO and ecosystem services. ...
Urban Quality of Life (UQoL) is the main objective of sustainable development in the urban context. It is now widely recognised as a multidimensional concept. The satisfaction provided by the elements related to accommodation, such as housing and land, greatly contributes to the satisfaction with quality of life. Meanwhile, the UQoL also contributes to housing and land prices in cities. Our review shows that most current studies on this interrelationship are limited to several dimensions of UQoL and their impact on housing or land prices. This article will fill the gap by using the land price as an input for calculating a UQoL index from the viewpoint of the Status-Quality Trade-Off theory and ecosystem services. A case study was conducted in Cau Giay District, Hanoi, Vietnam, to create a map of the UQoL index and investigate the interrelationship UQoL – land price. In an ideal condition, this interrelationship should be positive (high/low UQoL index – high/low land price). However, this research revealed two other negative scenarios: “high UQoL index – low land price”, and “low UQoL index – high land price”. These negative scenarios can bring many business opportunities and therefore be interesting for stakeholders in the real estate market.
... Cities of all sizes do not just house people and the infrastructure that supports their economic activities. Urban green spaces (UGS) have beneficial impacts on human wellbeing [83,84], economic development [85], and more. Many other species find habitat in urban spaces, often but not always in UGS [86]. ...
Simple Summary
Understanding the impact of urbanization on biodiversity is a crucial task of our time. Here, we reflect on the importance of feralization in the relationship between ongoing urbanization and the worsening biodiversity crisis. Feralization is often viewed as the exact opposite of a domestication process—a perception that we argue is too simplistic. The interrelations between domestication, feralization, and the adaptation of taxa to novel, human-made environments such as cities are complex. Given their unique traits, feral(izing) taxa can play key roles in sustainability, sometimes problematic (i.e., invasive species) but at other times, improving human well-being in urban settings.
Abstract
Domestication describes a range of changes to wild species as they are increasingly brought under human selection and husbandry. Feralization is the process whereby a species leaves the human sphere and undergoes increasing natural selection in a wild context, which may or may not be geographically adjacent to where the originator wild species evolved prior to domestication. Distinguishing between domestic, feral, and wild species can be difficult, since some populations of so-called “wild species” are at least partly descended from domesticated “populations” (e.g., junglefowl, European wild sheep) and because transitions in both directions are gradual rather than abrupt. In urban settings, prior selection for coexistence with humans provides particular benefit for a domestic organism that undergoes feralization. One risk is that such taxa can become invasive not just at the site of release/escape but far away. As humanity becomes increasingly urban and pristine environments rapidly diminish, we believe that feralized populations also hold conservation value.
Green spaces are an integral part of urban landscape and offer numerous benefits related to quality of urban life. As the world's population continues to urbanize, population density increases and people endure the ever-increasing speed of the urban environment. Urban green space plays an essential role in the urban ecosystem and highly contributes to the welfare of urban residents. Understanding the dynamics of green space is crucial for its planning and management. The role of urban green space (UGS) in urban sustainability is attracting increasing attention from researchers. However, due to various factors, the distribution of green spaces among city neighbourhoods is often skewed. Urban growth is occurring at an unprecedented rate worldwide with 65% of the population expected to reside in urban areas by 2025. The extensive study of literature reveals that most of the environmental impacts of urbanization are associated with green space. Having realized the importance of green space in urban ecosystems, considerable work has been devoted to improving the urban environment and enhancing citizens' quality of life through urban green space planning. Hence, urban planners require effective tools to routinely map and monitor the greening/ un-greening phenomena among the neighbourhoods. This research study caters to the need by adopting a geospatial green space distribution assessment approach that encompasses green space quantity, quality, and accessibility aspects. Keeping the aforesaid knowledge in mind, Bhopal City has been chosen for further detailed investigation. In this study, we investigate the spatio-temporal variation of UGS and its relationship with urban growth based on an empirical analysis in the Bhopal study region during rapid urban development decadal phases between 2001-2021.The remote sensing data reveals that changing UGS pattern declined notably in the first decade and has increased slightly since 2001, with the green areas mainly clustered in the urban centres. In this study, FRAGSTATS software has been employed to quantify spatial patterns in land cover through landscape metrics and their changes over time in the study region. This study attempt has been made to quantify the cooling effect of green spaces and its spatial variation, using Landsat 9 USGS Earth explorer by employing ArcGIS. It reveals that urban green spaces have a significant impact in reducing land surface temperatures (LST), contributing to a more pronounced cooling effect in the surrounding neighbourhoods. In this research, an attempt has been made to explore the causal relationship between green spaces and land values, by employing multiple regression analysis. The findings shed light on the significant impact of park size and location in relation to other parks on the average temperature of the neighbourhood. Furthermore, it indicates that development of parks can contribute to better land prices in the surrounding areas, potentially leading to increased revenue for urban local bodies. This is clearly evident that the economic benefits associated with the strategic allocation and preservation of green spaces within the urban environment. Based on the findings, the study evolve a comprehensive operational framework and suggested guidelines for determining the optimal size and spacing of parks within neighbourhoods to enhance the potential of urban green spaces navigating towards sustainable urban growth 12 Jain et al /OIDA International Journal of Sustainable Development, 18:01,2025
Community revitalization is a complex, multifaceted process, studied conceptually and empirically in the vast multidisciplinary literature. Among the cited elements of community revitalization are housing; school, civic, and retail spaces; street networks; parks; and green spaces. However, the elements are commonly studied in isolation, not considering their interrelated qualities as all-of-a-piece of the community revitalization process. In this paper, we draw on the concept of the neighborhood unit that facilities a holistic approach to community revitalization. We show how the neighborhood unit is metamorphosed and thereby endured from the classic to the contemporary. We argue that the neighborhood unit informs, as well as being challenged by, community revitalization. Furthermore, inadequate attention is given to how urban revitalization challenges the efficacy of the neighborhood unit itself. The inner-city blight provides an impetus to look beyond the neighborhood to the metropolitan region as a whole. The neighborhood unit’s fundamental limitation is posed by its cellular autonomy, in favor of alternatives that connect the neighborhood to the metropolitan region’s jobs–housing–services–mobility opportunity holistically. Our literature review of the impactful elements of community revitalization is aided by AI (ChatGPT) as an expeditious search engine. It is found that the AI-aided search of the universal poses anew the significance of the particular—the site- and context-specific. We conclude with) universal “performance dimensions” of Good City Form that are calibrated locally, reflecting the goodness of the city form, of which the neighborhood is a building block.
Urban and urban-proximate national park sites provide diverse
leisure opportunities for residents, yet potential barriers and
constraints for visitation exist. We examined constraints prior to,
during, and regardless of the COVID-19 pandemic in the
Washington, D.C. Metro area at Rock Creek Park and Chesapeake
and Ohio Canal National Historical Park. Visitors and non-visitors
(n = 840) responses were assessed for differences in their (1)
demographic characteristics and leisure activities, (2) perceived
constraints, and (3) the (a)temporal dimensions of these
constraints (i.e. considering or despite COVID-19). Findings
illustrate constraints were largely similar for both populations, but
non-visitors reported significantly more physical limitations
during the pandemic; overall, this demographically diverse group
reported significantly less knowledge related to national park site
visitation. Findings help point park managers towards
information, outreach, and social support as potential tools to
improve the visitor experience in these and other national park
unit settings.
Rapid global urbanization has made environmental amenities scarce despite their considerable advantages, ranging from aesthetics to health benefits. Street greenness is a key urban environmental amenity. This study developed a green index as an objective measure of greenness using street view images and assessed its predictive power along with that of other environmental amenities for metropolitan housing prices. Spatial interpolation was used to transform point data into areal data, enabling effective analysis of a dataset covering an entire metropolis. A series of hedonic models revealed that (1) street greenness is significantly and negatively associated with housing prices, (2) a traditional greenness indicator and the green index provide complementary information, indicating that they could be used for different purposes, and (3) environmental amenities, in general, demonstrated significant relationships with housing prices. Our analysis strategy including spatial interpolation can be widely employed for studies using different types of data. The findings demonstrating a complementary relationship between our two greenness indicators provide valuable insights for policymakers and urban planners to improve street-level greenness and green accessibility. Considering the significance of environmental amenities, this study provides practical approaches for executing sustainable and healthy city development.
The role of nature in promoting both affective and cognitive benefits has been extensively studied in the field of environmental psychology. Two well-established theories, Stress Recovery Theory (SRT) and Attention Restoration Theory (ART), are commonly used to explain these restorative benefits. However, despite their popularity, both theories face important challenges. To address these challenges, in the current paper, we propose an alternative goal-discrepancy account of restorative nature experiences. In our account, we consider individuals as goal-directed agents and argue that the to-be-restored states that are central to SRT and ART-stress and negative affect (in SRT) and declines in cognitive performance (in ART)-can be interpreted as discrepancies between an individual's goals and their current situation, instead of drained affective and/or cognitive resources. We propose that affective (see SRT) and cognitive nature benefits (see ART) both arise from a process of discrepancy reduction, where nature helps individuals to reduce discrepancies between their current situation and their goals. Nature can facilitate this discrepancy reduction process through three pathways: (a) by modifying goals (i.e., accommodation), (b) by modifying interpretations of the situation (i.e., immunization), or (c) by affording actions that can fulfill thwarted goals (i.e., assimilation). We compare our account to SRT and ART, highlighting similarities and differences between our proposal and the two theories, and illustrate how it can guide empirical studies and real-life interventions.
It was noted in 2011 by the General Accounting Office that the departments
of the Central Government have limited insight into the market value of the real estate that they hold. A concrete point of criticism is that various valuation principles are used, so that a unified vision is lacking assume that the Waardering Onroerende
Zaken (Valuation of Real Property; WOZ) value can be indicative of the market value.
If this research confirms this assumption, the recommendations of the General Accounting Office, among others, can be met relatively simply and at quite low costs for a large part of the buildings. In the reverse, the research prevents the improvident use of WOZ values. Knowing that there are multiple initiatives
for utilizing the WOZ value makes this very relevant socially. In this context, thought must be given to use for the purpose of the housing valuation system.
Rapid urbanization has become a more prevalent reality in our cities, posing complex challenges to the surrounding environmental systems. As the built environment surges, ecological lands that are essential to cities' sustainability are displaced by other land uses such as residential. This has implications for the sustainability of these ecologically sensitive areas. Employing a mixed research approach, and case studying three communities; including Ahinsan, Ayigya, and Danyame in the Greater Kumasi Metropolis, this study explored local perceptions and attitudes on the sustainable functional roles of ecologically sensitive areas in the Greater Kumasi Metropolis of Ghana from a socioeconomic purview. Overall, the study divulges that city residents generally have relatively positive perceptions towards ecologically sensitive areas, however, their attitudes towards these ecologically sensitive areas are negative. This study conclusively answered questions vis-à-vis the functions of ecologically sensitive areas, the effects of human activities on the sustainability of these ecologically sensitive areas, and theperceptions and attitudes of city residents toward these ecologically sensitive areas. Further studies are needed to appraise the fate of effective land use planning and environmental sustainability in cities' political economy.
Recent studies have yielded some interesting insights into the impacts of a property’s walking accessibility on housing affordability and equity from the potential property owner perspective, while limited attention was paid from the renter perspective. This study investigates the impacts of eight types of property walking accessibility along with other variables on both second-hand residential property (SHP) price and residential rental property (RRP) rent. It uses a sample of 6,603 SHPs and 3,566 RRPs collected in Shanghai, China in 2021. A modified floating catchment method is used to quantify walking accessibility to eight types of potential destinations. Geographically weighted regression models are estimated to study the similarities and dissimilarities of the impacts of property’s walking accessibilities, inherent attributes, and transit time to major transportation hubs on SHP price and RRP rent. It also factors the distinctive regional and political characteristics in China, including massive internal immigration, rapid urbanization, household registration policy, and housing price control policy. These results provide a more comprehensive understanding of the spatially varying impacts of property walking accessibility on housing affordability and equity. These results also highlight the intensifying jobs-housing imbalance, ever-increasing commute time and cost, and decreasing overall quality of life in metropolises, particularly among migrants and future property owners. For property developers and investors, these results demonstrate that improving property walking accessibility may yield spatially varying returns across regions. From the perspective of planners and policymakers, these results and insights can be used to design policies and strategies such as cooperative governance and low-income rental housing along with walking accessibility improvement development to address the urgent need for affordable housing and equity in China.
Over the past several decades, the rapid growth of Southwestern United States desert cities is creating significant climate and water scarcity challenges. City planners are using green infrastructure to mitigate these challenges and develop more livable, sustainable, and resilient communities. This study uses hedonic pricing modeling (HPM) to evaluate how constructed wastewater wetlands impact home values integrated into the project design. It compares Crystal Gardens in Avondale, AZ, consisting of 14 engineered wastewater filtering ponds, to nearby neighborhoods with desert landscaping. HPM revealed higher values for Crystal Gardens homes overall (7%) and significant increases for homes on the ponds (14%). Results demonstrate the economic value of integrating water-related infrastructure in desert cities for home sales. For a more accurate benefit assessment, additional research is needed on how the ecosystem services provided by these constructed wetlands contribute to greater property values.
The analysis and results discussed in this article were developed as part of a study of landed property and home owners (including seasonal homes) in three representative counties of Michigan's northern lower peninsula. A model similar to the hedonic price method was used to isolate certain natural resource characteristics and detennine if property value fluctuated with respect to location. This study attempted to measure the intrinsic worth of one's property and relate it to the existence and location of certain natural resource characteristics. Although the study areas were heavily endowed with natural resources, making generalization to other areas problematic, the use of a hedonic price type model appears to show promise in identifying specific locations where accelerated development might occur if the seasonal home market enters a new growth cycle.
Fifteen public land acquisitions for water-oriented outdoor recreation in Pennsylvania were examined to determine the effects on the property tax base. A time series of the tax base in jurisdictions where land was acquired by a public agency was compared with a similar series in comparable areas without such land acquisition.
The study shows that local taxable land values seldom fell in absolute terms, and in those few cases where they did fall, all but one recovered within a very few years. It appears that public land acquisition of the magnitude of projects in this study does not restrict the revenue-generating capacity of a real property tax. Analysis of the annual rate of increase in land values suggested the following hypothesis: At the time of public acquisition, or very shortly thereafter, the value of land near the recreation site increases rapidly, followed by a period where land values again increase at about the rate to be expected without recreational development.
Multiple regression analyses were conducted using two measures of parks and recreation services: per capita expenditures for parks and recreation services; and the acreage of park land per 1000 population. A significant positive relationship between per capita expenditures and the sales price of property was found to exist in one sample, but not in another sample. The acreage of park land per 1000 population was not found to be significantly related to sales price. Concludes that there was no evidence of a relationship between parks and recreation services and property values. -Author
The hedonic pricing technique was used to measure that component of house price attributable to proximity to a city park, using data on sale prices and characteristics of houses in Worcester, MA. Aggregation of these residual values over all houses in the neighborhood of a park provided an estimate of the value of the park, to which was added an estimate of recreation benefits from extrazonal users. The policy question of park system development or contraction was addressed by comparing these benefits with operating costs to gain a net measure of parkland value.
This chapter discusses the issues associated with identifying and evaluating learning-disabled children. It describes the phenomena of learning disabilities and presents a historical overview of different models of learning disabilities. The four general approaches discussed are the neurophysiological, developmental lag, academic, and deficiency models. For persons who are deficient in knowledge but not strategy, good performance is expected only on those problem types in which either no strategy or knowledge is demanded or strategy use alone is needed. Maximum performance is expected of persons who are knowledgeable but strategy deficient, only on problems that do not require strategic intervention or those devoid of both the strategy and knowledge components. Through analyses of different environmental demands and assessments of the status of a person's strategies and knowledge, effective educational programs can be engineered. The chapter outlines the possible relationships between existing knowledge about cognitive development and the behavior of the learning-disabled child.
Alternative techniques for measuring the benefits of urban parks are examined. We conclude that the practical problems in valuing urban parks may preclude the use of any single method of measurement. The results also suggest that the property‐value approach may underestimate park benefits substantially, yet values obtained from alternative approaches cannot be arbitrarily combined without double counting of benefits.
This article develops a theory of how urban containment programs should influence the regional land market, and then it develops a model to apply the theory to a case study. The results are threefold. First, the urban containment program employed by Salem, Oregon, separates the regional land market into urban and rural components. Second, by making greenbelts out of privately held farmland, the program prevents speculation of farmland in the regional land market. Third, greenbelts add an amenity value to urban land near them. The article suggests several policy implications that arise from the theory and case study.
Public land ownership is often assumed to adversely affect the fiscal capacity of local governments through removal of part
of the property tax base. A method employing multiple regression analysis was developed to test this hypothesis in a forested
region of Pennsylvania. Neither higher tax rates on private land nor reduced levels of per capita local government expenditures
were found to be associated with large amounts of public land, thereby indicating that local governments are not placed at
an economic disadvantage by public land programs. Extended use of this analytical technique could result in better public
policy decisions on resource use.
Analysis of property sales in the vicinity of 1,294-acre Pennypack Park in Philadelphia indicates a statistically significant rise in land value with closeness to park, when allowance is made for effect of type of house, year of sale, and special characteristics such as location on corner of block.
Conservation easements allow landowners to collect earnings from their land, while reducing their tax burdens because the land cannot be sold into development. Conservation assures open space amenities for nearby residents, however, the residents bear a ...
One reason why urban parks and open spaces are subject to development pressure is that planners and researchers have been unable to articulate their value in economic terms. Three valuation techniques — each with its own strengths and weaknesses — have been applied to urban parks. This paper reviews the three techniques and presents study results from the hedonic valuation technique. Study results indicate landscape planners need to be aware of the strengths and shortcomings of each to properly evaluate research on this topic.
The evaluation of numerous school reforms requires an understanding of the value of better schools. Given the difficulty of calculating the relationship between school quality and student outcomes, I turn to another method and use house prices to infer ...
Typescript (photocopy). Thesis (M. En.)--Miami University, Institute of Environmental Sciences, 1985. Includes bibliographical references (leaves 45-47).
Thesis (M.U.P.)--University of Washington. Bibliography: l. [45].
State parks and residential property values in New York. Unpublished manuscripts
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Financing public parks
- H P Chandler
Characteristics of companies that considered recreation/parks/open space to be important in (re)location decisions
- J L Crompton
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- T A More
Valuing open space in Maryland: An hedonic analysis
- R E Curtis
The economic implications of the Regional Park System in Maricopa County
- K E Daane
Urban open space: An investment that pays: The Neighborhood Open Space Coalition
- T Fox
A Trust for Public Land memorandum to Rand Wentworth The economic benefits of parks and open spaces
- E Cook
Parks and Open Space: The highest and best use of public land? Journal of Park and Recreation Administration
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The effects of playgrounds on land values of the “bordering on” and “adjacent to” properties to the playgrounds in Brooklyn
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Challenge of the land
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Trying new ways to save decaying parks. The New York Times
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The economics of urban parks: A benefit/cost analysis. Parks and Recreation
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The spatial distribution and impact of public facility expenditures. Doctoral dissertation
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Unsigned letter to the editor
- More Parks For New York
Property values and open space in Northwest Philadelphia: An empirical analysis. (Discussion Paper No. 4)
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The effect of park and boulevard improvements on property values
- W H Dunn
The effects of parks upon land and real estate values
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The experience of nature
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The increase of land values around playgrounds. The Playground
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Research report: The effect of a large park on real estate value
- T R Hammer
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The sociological and economic impact of urban parks in Dallas
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A prospect for parks. The Public Interest
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Open space conservation: Investing in your community's economic health. Cambridge, MA Lincoln Institute of Land Policy
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Parks: A manual of municipal and county parks
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