The effect of urban green spaces on house prices in Warsaw

    Radoslaw Trojanek Affiliation
    ; Michal Gluszak Affiliation
    ; Justyna Tanas Affiliation


In the paper, we analysed the impact of proximity to urban green areas on apartment prices in Warsaw. The data-set contained in 43 075 geo-coded apartment transactions for the years 2010 to 2015. In this research, the hedonic method was used in Ordinary Least Squares (OLS), Weighted Least Squares (WLS) and Median Quantile Regression (Median QR) models. We found substantial evidence that proximity to an urban green area is positively linked with apartment prices. On an average presence of a green area within 100 meters from an apartment increases the price of a dwelling by 2,8% to 3,1%. The effect of park/forest proximity on house prices is more significant for newer apartments than those built before 1989. We found that proximity to a park or a forest is particularly important (and has a higher implicit price as a result) in the case of buildings constructed after 1989. The impact of an urban green was particularly high in the case of a post-transformation housing estate. Close vicinity (less than 100 m distance) to an urban green increased the sales prices of apartments in new residential buildings by 8,0–8,6%, depending on a model.

Keyword : hedonic methods, parks, urban green, property prices

How to Cite
Trojanek, R., Gluszak, M., & Tanas, J. (2018). The effect of urban green spaces on house prices in Warsaw. International Journal of Strategic Property Management, 22(5), 358-371.
Published in Issue
Sep 24, 2018
Abstract Views
PDF Downloads
Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.


Anderson, L. M., & Cordell, H. K. (1998). Influence of trees on residential property values in Athens, Gerogia (U.S.A.): a survey based on actual sales prices. Landscape and Urban Planning, 15(1-2), 153-164.

Anderson, S. T. (2000). The effect of open space on single-family, residential home property values. Macalester Journal of Economics, 10, 261-270.

Bark, R. H., Osgood, D. E., Colby, B. G., & Halper, E. B. (2011). How do homebuyers value different types of green space?. Journal of Agricultural and Resource Economics, 36(2), 395-415.

Bertaud, A., & Bertaud, M. A. (2000). The spatial development of Warsaw Metropolitan area. Comments on Warsaw Development Strategy until the Year 2010 prepared for the World Bank, 11 June 2000.

Biao, Z., Gaodi, X., Bin, X., & Canqiang, Z. (2012). The effects of public green spaces on residential property value in Beijing. Journal of Resources and Ecology, 3(3), 243-252.

Bolitzer, B., & Netusil, N. R. (2000). The impact of open spaces on property values in Portland, Oregon. Journal of Environmental Management, 59(3), 185-193.

Conway, D., Li, C. Q., Wolch, J., Kahle, C., & Jerrett, M. (2010). A spatial autocorrelation approach for examining the effects of urban greenspace on residential property values. Journal of Real Estate Finance and Economics, 41(2), 150-169.

Crompton, J. L. (2001). The impact of parks on property values: a review of the empirical evidence. Journal of Leisure Research, 33(1), 1-31.

Crompton, J. L. (2005). The impact of parks on property values: empirical evidence from the past two decades in the United States. Managing Leisure, 10(4), 203-218.

Czembrowski, P., & Kronenberg, J. (2016). Hedonic pricing and different urban green space types and sizes: insights into the discussion on valuing ecosystem services. Landscape and Urban Planning, 146, 11-19.

Des Rosiers, F., Thériault, M., Kestens, Y., & Villeneuve, P. (2002). Landscaping and house values: an empirical investigation. Journal of Real Estate Research, 23(1/2), 139.

Degórska, B. (2012). Spatial growth of urbanised land within the Warsaw Metropolitan Area in the first decade of the 21st century. Geographia Polonica, 85(3), 77-95.

Do, A. Q., & Grudnitski, G. (1995). Golf-courses and residential house prices – an empirical-examination. Journal of Real Estate Finance and Economics, 10(3), 261-270.

Dombrow, J., Rodriguez, M., & Sirmans, C. F. (2000). The market value of mature trees in single-family housing markets. Appraisal Journal, 68(1), 39-43.

Doss, C. R., & Taff, S. J. (1996). The influence of wetland type and wetland proximity on residential property values. Journal of Agricultural and Resource Economics, 21(1), 120-129.

Dubin, R. A. (1988). Estimation of regression coefficients in the presence of spatially autocorrelated error terms. The Review of Economics and Statistics, 70(3), 466.

Earnhart, D. (2001). Combining revealed and stated preference methods to value environmental amenities at residential locations. Land Economics, 77(1), 12-29.

Espey, M., & Owusu-Edusei, K. (2001). Neighborhood parks and residential property values in Greenville, South Carolina. Journal of Agricultural and Applied Economics, 33(3), 487-492.

Gluszak, M., & Marona, B. (2017). Discrete choice model of residential location in Krakow. Journal of European Real Estate Research, 10(1), 4-16.

Grey, G. W., & Deneke, F. J. (1978). Urban forestry. Wiley.Hendon, W. S. (1971). The park as a determinant of property values. American Journal of Economics and Sociology, 30(3), 289-300.

Herath, S., Choumert, J., & Maier, G. (2015). The value of the greenbelt in Vienna: a spatial hedonic analysis. Annals of Regional Science, 54(2), 349-374.

Hoshino, T., & Kuriyama, K. (2010). Measuring the benefits of neighbourhood park amenities: application and comparison of spatial hedonic approaches. Environmental and Resource Economics, 45(3), 429-444.

Jim, C. Y., & Chen, W. Y. (2010). External effects of neighbourhood parks and landscape elements on high-rise residential value. Land Use Policy, 27(2), 662-670.

Kim, J.-H., Li, W., Newman, G., Kil, S.-H., & Park, S. Y. (2016). The influence of urban landscape spatial patterns on single-family housing prices. Environment and planning B: Urban Analytics and City Science, 45(1), 26–43.

Knetsch, J. L. (1964). The Influence of Reservoir Projects on Land Values. American Journal of Agricultural Economics, 46(1), 231–243.

Koenker, R., & Bassett, G. (1978). Regression quantiles. Econometrica, 46(1), 33-50.

Koenker, R., & Hallock, K. F. (2001). Quantile regression. Journal of Economic Perspectives, 15(4), 143-156.

Kolbe, J., & Wüstemann, H. (2014). Estimating the value of urban green space: a hedonic pricing analysis of the housing market in Cologne, Germany. Acta Universitatis Lodziensis Folia Oeconomica, 5(307), 45-61.

Konijnendijk, C., Annerstedt, M., Maruthaveeran, S., & Nielsen, A. B. (2013). Benefits of urban parks a systematic review – A Report for IFPRA. IPFRA.Kusiak, J. (2012). The cunning of chaos and its orders: a taxonomy of urban chaos in Post-Socialist Warsaw and beyond. Chasing Warsaw: Socio-Material Dynamics of Urban Change since 1990. Campus Verlag GmbH.

Lancaster, K. J. (1966). A new approach to consumer theory. Journal of Political Economy, 74(2), 132-157.

Laurie, I. C. (1979). Nature in cities: the natural environment in the design and development of urban green space. Wiley.Lee, C.-M., & Linneman, P. (1998). Dynamics of the greenbelt amenity effect on the land market-the case of Seoul’s Greenbelt. Real Estate Economics, 26(1), 107-129.

Liao, W. C., Wang, X. (2012). Hedonic house prices and spatial quantile regression. Journal of Housing Economics, 21(1), 16-27.

Liebelt, V., Bartke, S., & Schwarz, N. (2018). Hedonic pricing analysis of the influence of urban green spaces onto residential prices: the case of Leipzig, Germany. European Planning Studies, 26(1), 133-157.

Luttik, J. (2000). The value of trees, water and open space as reflected by house prices in the Netherlands. Landscape and Urban Planning, 48(3-4), 161-167.

Lutzenhiser, M., & Netusil, N. R. (2001). The effect of open spaces on a home’s sale price. Contemporary Economic Policy, 19(3), 291-298.

Mahan, B. L., Polasky, S., & Adams, R. M. (2000). Valuing urban wetlands: a property price approach. Land Economics, 76(1), 100-113.

Malpezzi, S. (2008). Hedonic pricing models: a selective and applied review. In T. O'Sullivan & K. Gibb (Eds.), Housing economics and public policy (pp.67-89). Wiley Online Library.

Mantey, D. (2017). The ‘publicness’ of suburban gathering places: The example of Podkowa Leśna (Warsaw urban region, Poland). Cities, 60, 1–12.

Masztalski, R. P., & Michalski, M. (2011). Contemporary Housing Indicators in Poland on the Wroclaw Study Case. International Journal of Civil, Environmental, Structural, Construction and Architectural Engineering, 5(5), 247-254.

McConnell, V., & Walls, M. A. (2005). The value of open space: evidence from studies of Nonmarket Benefits. Resources for the future.

McCord, J., McCord, M., McCluskey, W., Davis, P. T., McIlhatton, D., & Haran, M. (2014). Effect of public green space on residential property values in Belfast metropolitan area. Journal of Financial Management of Property and Construction, 19(2), 117-137.

Millward, A. A., & Sabir, S. (2011). Benefits of a forested urban park: what is the value of Allan Gardens to the city of Toronto, Canada?. Landscape and Urban Planning, 100(3), 177-188.

Morancho, A. B. (2003). A hedonic valuation of urban green areas. Landscape and Urban Planning, 66(1), 35-41.

Nedović-Budić, Z., Tsenkova, S., & Marcuse, P. (2006). The urban mosaic of post-socialist Europe. In S. Tsenkova & Z. Nedović-Budić (Eds.), The Urban Mosaic of Post-Socialist Europe: Space, Institutions and Policy (pp. 3-20). Heidelberg: Physica-Verlag HD.

Panduro, T. E., & Veie, K. L. (2013). Classification and valuation of urban green spaces – a hedonic house price valuation. Landscape and Urban Planning, 120, 119-128.

Robinette, G. O. (1972). Plants, people, and environmental quality. Department of the Interior. National Fark Service.

Rosen, S. (1974). Hedonic prices and implicit markets: product differentiation in pure competition. Journal of Political Economy, 82(1), 34-55.

Sadeghian, M. M., & Vardanyan, Z. (2013). The benefits of urban parks, a review of urban research. Journal of Novel Applied Sciences, 8, 231-237.

Sarkar, C., Webster, C., Pryor, M., Tang, D., Melbourne, S., Zhang, X. and Jianzheng, L. (2015). Exploring associations between urban green, street design and walking: results from the Greater London boroughs. Landscape and Urban Planning, 143, 112-125.

Stanilov, K., & Sýkora, L. (2014). Confronting suburbanization: urban decentralization in postsocialist Central and Eastern Europe. Wiley-Blackwell.

Staniszkis, M. (2012). Chasing Warsaw: socio-material dynamics of urban change since 1990. Campus Verlag GmbH.

Streimikiene, D. (2014). Comparative assessment of environmental indicators of quality of life in Romania and Lithuania. Economics & Sociology, 7(1), 11-21.

Szulczewska, B., & Kaliszuk, E. (2003). Challenges in the planning and management of “Greenstructure” in Warsaw, Poland. Built Environment (1978-), 29(2), 144-156.

Tanaś, J., & Trojanek, M. (2014). Changes in land use structure in suburban zones in Poland after the 90’. Journal of International Studies, 7(3), 81-89.

Trojanek, R. (2012). An analysis of changes in dwelling prices in the biggest cities of Poland in 2008–2012 conducted with the application of the hedonic method. Actual Problems of Economics, 7(2), 5-14.

Trojanek, R. (2015). The relation between the attractiveness and value of districts in Warsaw. Montenegrin Journal of Economics, 11(2), 137-145.

Trojanek, R. (2016). The impact of green areas on dwelling prices: the case of Poznań city. Entrepreneurial Business and Economics Review, 4(2), 27-35.

Trojanek, R., & Gluszak, M. (2018). Spatial and time effect of subway on property prices. Journal of Housing and the Built Environment, 33(2), 359-384.

Trojanek, R., Tanas, J., Raslanas, S., & Banaitis, A. (2017). The impact of aircraft noise on housing prices in Poznan. Sustainability, 9(11), 2088.

Troy, A., Grove, J. M., & Grove, J. M. (2008). Property values, parks, and crime: a hedonic analysis in Baltimore, MD. Landscape and Urban Planning, 87(3), 233-245.

Tyrväinen, L., & Miettinen, A. (2000). Property Prices and urban forest amenities. Journal of Environmental Economics and Management, 39(2), 205-223.

Votsis, A. (2017). Planning for green infrastructure: the spatial effects of parks, forests, and fields on Helsinki’s apartment prices. Ecological Economics, 132, 279-289.

Weigher, J. C., & Zerbst, R. H. (1973). The externalities of neighborhood parks: an empirical investigation. Land Economics, 49(1), 99-105.

Zhang, B., Xie, G., Zhang, C., & Zhang, J. (2012). The economic benefits of rainwater-runoff reduction by urban green spaces: a case study in Beijing, China. Journal of Environmental Management, 100, 65-71.

Zhou, X., & Parves Rana, M. (2012). Social benefits of urban green space: a conceptual framework of valuation and accessibility measurements Management of Environmental Quality: An International Journal, 23(2), 173-189.

Zietz, J., Zietz, E., & Sirmans, G. (2008). Determinants of house prices: a quantile regression approach. The Journal of Real Estate Finance and Economics, 37(4), 317-333.

Zygmunt, R., & Gluszak, M. (2015). Forest proximity impact on undeveloped land values: a spatial hedonic study. Forest Policy and Economics, 50, 82-89.

Źróbek-Różańska, A., & Zadworny, D. (2016). Can urban sprawl lead to urban people governing rural areas? Evidence from the Dywity Commune, Poland. Cities, 59, 57-65.

Źróbek, S., Trojanek, M., Źróbek-Sokolnik, A., & Trojanek, R. (2015). The influence of environmental factors on property buyers’ choice of residential location in Poland. Journal of International Studies, 8(3), 164-174.