Urban Greenery as a Component of Real Estate Value

Szczepańska Agnieszka (), Krzywnicka Iwona () and Lemański Grzegorz ()
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Szczepańska Agnieszka: The Faculty of Geodesy, Geospatial and Civil Engineering, University of Warmia and Mazury in Olsztyn
Krzywnicka Iwona: The Faculty of Geodesy, Geospatial and Civil Engineering, University of Warmia and Mazury in Olsztyn
Lemański Grzegorz: Starostwo Powiatowe w Malborku

Real Estate Management and Valuation, 2016, vol. 24, issue 4, 79-87

Abstract: Due to the specific characteristics of cities, such as the intensity of the use of space, the supply of green areas is limited. These areas are subjected to constant pressure (demand for new transportation or construction functions), which usually results in their reduction. As a consequence of this, green areas have become a limited asset in urban environments. City dwellers, seeking a high quality of life in the urban environment, pay attention to the proximity of greenery to their place of residence. This is, therefore, a factor that greatly influences market prices of residential real estate. In the study, the dependency of transaction prices of residential premises on the vicinity of urban greenery was subjected to analysis. Additionally, questionnaire studies were conducted with respect to the evaluation of the significance of environmental factors when choosing a place to live, which translates over to the decisions made by consumers on the real estate market.

Keywords: green areas; real estate value; city (search for similar items in EconPapers)
JEL-codes: C21 Q51 R32 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:remava:v:24:y:2016:i:4:p:79-87:n:8

DOI: 10.1515/remav-2016-0032

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