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Effect of Green Areas Density on Real Estate Price in Ramadi City

2020; International Information and Engineering Technology Association; Volume: 15; Issue: 2 Linguagem: Inglês

10.18280/ijdne.150216

1755-7445

Ahmed Saeed, Luay Mullahwaish,

Housing Market and Economics

Urban green spaces are among most important indicators of amenities, which include providing entertainment, aesthetic enjoyment and environmental quality.However, most of these values lack their relationship to market prices, which leads to gradual overruns of those areas through urban sprawl.As a result, there is a need to obtain quantitative information on implicit and non-market advantages and benefits of urban green areas that have been classified in Ramadi into three categories.Main procedure is to integrate real estate that is bought and sold on market with convenience values and that people are willing to pay money to live near local comfort environment.Statistical models that stakeholders use can then be used to identify those green environmental facilities.It should be possible to determine monetary value of benefits provided by green spaces.Research was conducted in city of Ramadi, which is experiencing a large difference in real estate prices, which facilitates application of statistical models to evaluate green spaces.Results clearly affirmed positive effects of green spaces in urban areas on values of neighboring homes, and highlighted preferences of investors and residents alike.Independent variables were area of green space, distance from green scene, duration of access to park and public green space, and percentage of urban green areas.Moreover, variables of land use intensity and density of educational environment proved to be of great importance in model.As a result, recommendations provide insight into stakeholders and policy makers involved in urban planning.