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Article

Urban Green Spaces and Housing Prices: An Alternative Perspective

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Department Computational Landscape Ecology, Helmholtz Centre for Environmental Research-UFZ, Permoserstraße 15, 04318 Leipzig, Germany
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German Centre for Integrative Biodiversity Research (iDiv) Halle-Jena-Leipzig, Biodiversity Economics, Deutscher Platz 5e, 04103 Leipzig, Germany
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Faculty of Economics and Management Science, Institute for Infrastructure and Resources Management, Leipzig University, Grimmaische Straße 12, 04109 Leipzig, Germany
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Department of Economics, Helmholtz Centre for Environmental Research-UFZ, Permoserstraße 15, 04318 Leipzig, Germany
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Faculty of Geo-Information Science and Earth Observation (ITC), University of Twente, 7500 AE Enschede, The Netherlands
*
Author to whom correspondence should be addressed.
Sustainability 2019, 11(13), 3707; https://doi.org/10.3390/su11133707
Received: 22 May 2019 / Revised: 1 July 2019 / Accepted: 3 July 2019 / Published: 6 July 2019
Urban green spaces (UGS) are essential components of sustainable cities that provide many benefits to urban residents, such as recreation or aesthetics. Urban residents may be willing to pay for some of these ecosystem services. Indeed, studies investigating the formation of housing prices through hedonic pricing analysis have shown that UGS can influence housing prices. Hedonic pricing analysis puts housing units at the center of analysis. In this study, we investigate whether an alternative perspective provides additional insights into the effects of UGS on pricing. The proposed approach puts UGS into the center of analysis by applying an analysis of buffer zones to housing prices, thus, linking approaches from urban economics and landscape ecology. Such an analysis could deepen our understanding of the effects of UGS on housing prices by analyzing price–distance slopes around UGS-thus supporting more informed decisions on efficient UGS management and urban planning. Our results using a case study on Leipzig, Germany, demonstrate that the size of UGS affects price–distance slopes around them. We conclude that further investigations should be fathomed to unleash the potential of applying the analysis of buffer zones around UGS as a method to inform sustainable UGS design in cities. View Full-Text
Keywords: urban green spaces; valuation; buffer zones; hedonic pricing; real estate urban green spaces; valuation; buffer zones; hedonic pricing; real estate
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MDPI and ACS Style

Liebelt, V.; Bartke, S.; Schwarz, N. Urban Green Spaces and Housing Prices: An Alternative Perspective. Sustainability 2019, 11, 3707. https://doi.org/10.3390/su11133707

AMA Style

Liebelt V, Bartke S, Schwarz N. Urban Green Spaces and Housing Prices: An Alternative Perspective. Sustainability. 2019; 11(13):3707. https://doi.org/10.3390/su11133707

Chicago/Turabian Style

Liebelt, Veronika, Stephan Bartke, and Nina Schwarz. 2019. "Urban Green Spaces and Housing Prices: An Alternative Perspective" Sustainability 11, no. 13: 3707. https://doi.org/10.3390/su11133707

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