Influence of Recreational, Landscape and Protective Functions on the Value of Forest, Wooded and Bushy Properties in Urbanized Areas on the Example of the Local Market of the City of Krakow

Zygmunt Robert () and Gaca Radosław ()
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Zygmunt Robert: Department of Forest Resources Management, University of Agriculture in Krakow
Gaca Radosław: Independent Scientist and Real Estate Valuer

Real Estate Management and Valuation, 2021, vol. 29, issue 4, 1-9

Abstract: The paper presents a proposal for an approach to the valuation of forest, wooded and bushy real estate located in cities, which allows for the assessment of the impact of natural, protective and landscape factors on the value of this type of real estate. The main problem in the valuation of this type of real estate is the correct estimation of the impact on the value of the non-production factors described above. Considering the above, the main goal of the study was to identify the factors influencing the prices and value of forested, wooded and shrubby properties located in urbanized areas. The supplementary goal was to confirm the suitability of the methods and statistical models used in the study for similar measurements. By implementing the adopted goals, the article presents an analysis of the impact of these factors on the prices and value of real estate. The study covered the southwest part of the city of Kraków, located between the Vistula River and the Kraków-Rzeszów railway line in the north and east, and the southern and western border of the city. Urban forests perform mainly social functions, constituting only a marginal source of wood raw material. The results of the study showed that, in the case of similar properties, prices are significantly influenced by factors such as location, type and nature of the surroundings, form of access to the road, landscape and recreational values, manner of use and development status, as well as the permissible form of development, which is a measure of the profitability of timber production. The work ended with a discussion on the results and proposed directions for further research.

Keywords: real estate market; property valuation; city park and urban landscape; sustainable city; urban greenspace (search for similar items in EconPapers)
JEL-codes: C49 C50 O18 Q51 R39 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:remava:v:29:y:2021:i:4:p:1-9:n:2

DOI: 10.2478/remav-2021-0025

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