Abstract:

Green spaces have very important functions in the creation of a sustainable city. However, in cities, which grow in terms of their population and physical environment, the primary aim of city planning is to meet the housing deficit. For this reason, areas having natural characteristics within an urban area are destroyed and existing green spaces are turned into housing areas. The most important reason why green spaces are not prioritized in city planning is that there is no market representing the green spaces. The market value of green spaces is hard to quantify. The higher price paid by customers for houses that have green spaces compared with those without green spaces directly reflects the market value of the green spaces. This article explores the feasibility of representing green spaces in the housing market by a monetary evaluation approach in order to obtain systematic data that can affect the physical planning decisions in new urban development areas.

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