Economic benefits of greenspace
This study provides a critical review of evidence of the net economic benefits, both direct and indirect, of initiatives to create or improve green space.
Specific objectives include:
• Cover a spectrum of market and non-market values.
• Assess existing evidence against emerging government guidelines on value transfer, including whether they are sufficiently robust to be applicable to the benefit estimates of greening initiatives elsewhere.
• Identify gaps in evidence and consider the need for further research to address these.
• Recommend appropriate indicators to incorporate in emerging monitoring and evaluation frameworks to facilitate future assessments of the net economic benefit of greening initiatives.
The report concludes that developing and improving green space in key locations within urban and semi-urban areas is argued to have significant benefits which are reflected in increasing property and land values.