RESEARCH

An Update of the Literature Supporting the Economic Benefits of Plants: Part 2 – Increased Property Values

This article reviews research that demonstrates how plants and improved landscapes increase property values, advocating for the green industry to incorporate these economic benefits into their marketing strategies. It highlights the importance of quantifying the benefits of plants to boost sales and promote the value of green spaces in residential and municipal landscapes.

Program Types: Vocational

Population Groups: General Population, Industry Professionals

Health and Wellness Outcomes: Community Building

Allied Profession Intersections: Landscape Design

Evidence Type: Meta-Analyses/Systematic Reviews

Measurement and Evaluation: Program Effectiveness

Access: Free

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Summary

This article reviews existing research on the economic benefits of plants and improved landscapes, particularly focusing on how they increase property values. It aims to provide evidence for homeowners, municipal leaders, and the construction industry to invest in green spaces. The paper suggests the green industry should educate stakeholders on these economic benefits and use them in marketing to highlight the value and relevance of plants.

The review discusses various valuation methods like the Hedonic Pricing Method (HPM), which is commonly used to assess consumer willingness to pay for properties with certain features such as landscaping. The study also examines how proximity to green spaces, landscape elements, and natural views affect property values. The document also references a Research Roadmap that prioritizes research on quantifying and validating the benefits of plants on ecosystems, human health, and society. This information can help industry firms create value propositions that boost sales and increase interest in horticulture.

Link

Fetchel, M., & Hall, C. (2023). An update of the literature supporting the economic benefits of plants: Part 2 – increased property values. Journal of Environmental Horticulture 41(1), 14-26.

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