Measuring the Effects of Green Urban Space on Property Values using GIS Metrics

This research focuses on the effects of green space on property values in the city of Rotterdam. The concept of environmental injustice is examined; in which the government promotes the development of green areas mainly in high-income neighborhoods. An OLS regression analysis using 2,654 properties in Rotterdam, reveals a negative effect on property values for green space located within 100 meters from each transaction. However, after controlling for historical land usage in a TSLS regression analysis, it is revealed that green coverage within 300 meters from each transaction has a significant positive effect on property values. Furthermore, it is estimated that the effect of green coverage depends mainly on the property's distance to the Central Business District.