In the master's thesis, we have explored the interactions between urban green space and property value. We were the first in Slovenia to analyze the impact of urban green space on the value of housing. Hence, we first examined the studies conducted abroad, analyzed their results and found that urban green space mostly has a positive impact on the value of property in the immediate proximity. Since housing represents a type of heterogeneous goods, certain characteristics of housing units such as size, heating, age etc. are taken into account in the analysis. In this thesis, we use the hedonic model for housing as to be able to study the isolated impact of green space on the housing value. For the sake of the analysis%s manageability and due to the fact that the location has the greatest impact on the value of property, we focused on the area of interest, namely a smaller area, which covers three cadastral areas, and thus placed a limit on the aforementioned impact. We analyzed whether or not a consumer is willing to pay more for housing near urban green spaces compared to housing without the benefit in question. We measured the economic value of urban green spaces with respect to the proximity principle which assumes that the value of housings units is higher in the immediate proximity of urban green spaces and that their value decreases as they get more distant. We constructed a hedonic regression model that best fits our set of data. Since we found discrepancies in the size and type of urban green spaces in existing studies, we analyzed these characteristics of urban green spaces as well. We thus analyzed certain characteristics of an individual housing unit, its shortest distance to an urban green space and the distance to an individual characteristic of urban green spaces in the hedonic model. The results of the research can form a decision-making basis for a consumer deciding to purchase property as a future investment, or for an investor purchasing or building residential property in the proximity of urban green spaces, along with the spatial decision-makers who could use the results as an indication of the impact that the green spaces spatial planning has on the value of housing.
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