Economic Assessment of South African Urban Green Spaces Using the Proximity Principle: Municipal Valuation vs. Market Value
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Outros Autores: | , , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | https://doi.org/10.17645/up.v6i4.4407 |
Resumo: | Urban green spaces (UGSs) deliver ecosystem services and potential economic benefits like increases in proximate residential property prices. The proximity principle (PP) premises that property prices increase as distance to UGS decreases. The PP has generally been confirmed by studies using municipal valuations and market values internationally. Conversely, South African studies have mostly employed municipal valuations and results have rejected the PP. There is an accepted interrelationship, but also often discrepancies, between municipal valuations and market values, presenting scope for this article to explore whether negative results are confirmed when market values replace municipal valuations in PP studies in the South African context. Accordingly, a statistical analysis of market values is completed in the Potchefstroom case study, where five test sites are replicated from studies that employed municipal valuations for longitudinal comparison. Results verify generally higher market values than municipal valuations and confirm the PP in two, but reject the PP in three, of five test sites. Previous studies employing municipal valuations in the case study confirmed the PP in one instance, thus presenting certain, but limited, inconsistencies between findings based on municipal valuation vs. market value. Results suggest that the market’s willingness to pay for UGS proximity is sensitive to the ecosystem services and disservices rendered by specific UGS, but not significantly more than reflected in municipal valuations. Overall, findings underscore the need to protect and curate features that encourage willingness to pay for UGS proximity to increase municipal valuations and property taxes to help finance urban greening. |
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Economic Assessment of South African Urban Green Spaces Using the Proximity Principle: Municipal Valuation vs. Market Valuegreen infrastructure; market value; municipal valuation; proximity principle; South Africa; urban green spaceUrban green spaces (UGSs) deliver ecosystem services and potential economic benefits like increases in proximate residential property prices. The proximity principle (PP) premises that property prices increase as distance to UGS decreases. The PP has generally been confirmed by studies using municipal valuations and market values internationally. Conversely, South African studies have mostly employed municipal valuations and results have rejected the PP. There is an accepted interrelationship, but also often discrepancies, between municipal valuations and market values, presenting scope for this article to explore whether negative results are confirmed when market values replace municipal valuations in PP studies in the South African context. Accordingly, a statistical analysis of market values is completed in the Potchefstroom case study, where five test sites are replicated from studies that employed municipal valuations for longitudinal comparison. Results verify generally higher market values than municipal valuations and confirm the PP in two, but reject the PP in three, of five test sites. Previous studies employing municipal valuations in the case study confirmed the PP in one instance, thus presenting certain, but limited, inconsistencies between findings based on municipal valuation vs. market value. Results suggest that the market’s willingness to pay for UGS proximity is sensitive to the ecosystem services and disservices rendered by specific UGS, but not significantly more than reflected in municipal valuations. Overall, findings underscore the need to protect and curate features that encourage willingness to pay for UGS proximity to increase municipal valuations and property taxes to help finance urban greening.Cogitatio2021-10-14info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://doi.org/10.17645/up.v6i4.4407oai:ojs.cogitatiopress.com:article/4407Urban Planning; Vol 6, No 4 (2021): Towards Green(er) Cities: Contextualizing Green Benefits for Urban Spaces and Contemporary Societies; 54-662183-7635reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAPenghttps://www.cogitatiopress.com/urbanplanning/article/view/4407https://doi.org/10.17645/up.v6i4.4407https://www.cogitatiopress.com/urbanplanning/article/view/4407/4407Copyright (c) 2021 Louis Lategan, Juaneé Cilliers, Zinea Huston, Nadia Blaauw, Sarel Cilliershttp://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessLategan, LouisCilliers, JuaneéHuston, ZineaBlaauw, NadiaCilliers, Sarel2022-12-20T11:00:17Zoai:ojs.cogitatiopress.com:article/4407Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:22:08.552433Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Economic Assessment of South African Urban Green Spaces Using the Proximity Principle: Municipal Valuation vs. Market Value |
title |
Economic Assessment of South African Urban Green Spaces Using the Proximity Principle: Municipal Valuation vs. Market Value |
spellingShingle |
Economic Assessment of South African Urban Green Spaces Using the Proximity Principle: Municipal Valuation vs. Market Value Lategan, Louis green infrastructure; market value; municipal valuation; proximity principle; South Africa; urban green space |
title_short |
Economic Assessment of South African Urban Green Spaces Using the Proximity Principle: Municipal Valuation vs. Market Value |
title_full |
Economic Assessment of South African Urban Green Spaces Using the Proximity Principle: Municipal Valuation vs. Market Value |
title_fullStr |
Economic Assessment of South African Urban Green Spaces Using the Proximity Principle: Municipal Valuation vs. Market Value |
title_full_unstemmed |
Economic Assessment of South African Urban Green Spaces Using the Proximity Principle: Municipal Valuation vs. Market Value |
title_sort |
Economic Assessment of South African Urban Green Spaces Using the Proximity Principle: Municipal Valuation vs. Market Value |
author |
Lategan, Louis |
author_facet |
Lategan, Louis Cilliers, Juaneé Huston, Zinea Blaauw, Nadia Cilliers, Sarel |
author_role |
author |
author2 |
Cilliers, Juaneé Huston, Zinea Blaauw, Nadia Cilliers, Sarel |
author2_role |
author author author author |
dc.contributor.author.fl_str_mv |
Lategan, Louis Cilliers, Juaneé Huston, Zinea Blaauw, Nadia Cilliers, Sarel |
dc.subject.por.fl_str_mv |
green infrastructure; market value; municipal valuation; proximity principle; South Africa; urban green space |
topic |
green infrastructure; market value; municipal valuation; proximity principle; South Africa; urban green space |
description |
Urban green spaces (UGSs) deliver ecosystem services and potential economic benefits like increases in proximate residential property prices. The proximity principle (PP) premises that property prices increase as distance to UGS decreases. The PP has generally been confirmed by studies using municipal valuations and market values internationally. Conversely, South African studies have mostly employed municipal valuations and results have rejected the PP. There is an accepted interrelationship, but also often discrepancies, between municipal valuations and market values, presenting scope for this article to explore whether negative results are confirmed when market values replace municipal valuations in PP studies in the South African context. Accordingly, a statistical analysis of market values is completed in the Potchefstroom case study, where five test sites are replicated from studies that employed municipal valuations for longitudinal comparison. Results verify generally higher market values than municipal valuations and confirm the PP in two, but reject the PP in three, of five test sites. Previous studies employing municipal valuations in the case study confirmed the PP in one instance, thus presenting certain, but limited, inconsistencies between findings based on municipal valuation vs. market value. Results suggest that the market’s willingness to pay for UGS proximity is sensitive to the ecosystem services and disservices rendered by specific UGS, but not significantly more than reflected in municipal valuations. Overall, findings underscore the need to protect and curate features that encourage willingness to pay for UGS proximity to increase municipal valuations and property taxes to help finance urban greening. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-10-14 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://doi.org/10.17645/up.v6i4.4407 oai:ojs.cogitatiopress.com:article/4407 |
url |
https://doi.org/10.17645/up.v6i4.4407 |
identifier_str_mv |
oai:ojs.cogitatiopress.com:article/4407 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
https://www.cogitatiopress.com/urbanplanning/article/view/4407 https://doi.org/10.17645/up.v6i4.4407 https://www.cogitatiopress.com/urbanplanning/article/view/4407/4407 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2021 Louis Lategan, Juaneé Cilliers, Zinea Huston, Nadia Blaauw, Sarel Cilliers http://creativecommons.org/licenses/by/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2021 Louis Lategan, Juaneé Cilliers, Zinea Huston, Nadia Blaauw, Sarel Cilliers http://creativecommons.org/licenses/by/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Cogitatio |
publisher.none.fl_str_mv |
Cogitatio |
dc.source.none.fl_str_mv |
Urban Planning; Vol 6, No 4 (2021): Towards Green(er) Cities: Contextualizing Green Benefits for Urban Spaces and Contemporary Societies; 54-66 2183-7635 reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799130667362025472 |