Planning for green infrastructure : the spatial effects of parks, forests, and fields on Helsinki's apartment prices

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Votsis , A 2017 , ' Planning for green infrastructure : the spatial effects of parks, forests, and fields on Helsinki's apartment prices ' , Ecological Economics , vol. 132 , pp. 279-289 . https://doi.org/10.1016/j.ecolecon.2016.09.029

Title: Planning for green infrastructure : the spatial effects of parks, forests, and fields on Helsinki's apartment prices
Author: Votsis, Athanasios
Contributor: University of Helsinki, Faculty of Science
Date: 2017
Language: eng
Number of pages: 11
Belongs to series: Ecological Economics
ISSN: 0921-8009
URI: http://hdl.handle.net/10138/223790
Abstract: As the importance of urban green spaces is increasingly recognised, so does the need for their systematic placement in a broader array of socioeconomic objectives. From an urban planning and economics perspective, this represents a spatial task: if more land is allocated to various types of green, how do the economic effects propagate throughout urban space? This paper focuses on the spatial marginal effects of forests, parks, and fields and estimates spatial hedonic models on a sample of apartment transactions in Helsinki, Finland. The results indicate that the capitalization of urban green in apartment prices depends on the type of green, but also interacts with distance to the city centre. Additionally, the effects contain variable pure and spatial spillover impacts, also conditional on type and location, the separation of which highlights aspects not commonly accounted for. The planning of green infrastructure will therefore benefit from parameterizing interventions according to location, green type, and character of spatial impacts.
Subject: 511 Economics
Housing prices
Spatial effects
1172 Environmental sciences
Green Infrastructure
Land use options
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