Determination of Open-green Space's Effect on Around House Prices by Means of Hedonic Price Model; in Example of Ankara/Botanik Park

Abstract

Determination of Open-green Space's Effect on Around House Prices by Means of Hedonic Price Model; in Example of Ankara/Botanik Park

Abstract

Urban open green spaces which are an important component of urban area’s uses provide physical and social development for a city and they also collect communal and cultural activities within their. Open green spaces, in addition to be associated with natural life are those spaces that create social and economic values. The aim of this study as an empirical study is to query the economic values created by Ankara/Botanik park. In this study, taking into account the house selling prices nearby the Botanik Park, the impact of distance to the Botanik Park has been evaluated on house prices. Hedonic price model has been employed to examine the relationship between the rate of proximity to the park and the house prices and as a result, increase the price of houses that are close to the Ankara/Botanik Park has been determined.

Keywords

• Open-Green Space
• Hedonic Price Model
• Economic Value
• Park
• Turkey

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