We attempted to identify to which extent the implicit ecosystem service values of urban green areas impact real estate values in the city of Curitiba, Brazil. The study is based on spatial econometrics techniques and hedonic price theory applied to 43 urban green areas, highlighting three units: the Airumã Private Natural Heritage Reserve, the Teresa Urban Ecological Station, and the President Getulio Vargas Refinery. Information was obtained on the structural characteristics of more than 5,300 apartments and houses. The results of exploratory spatial data analysis (ESDA) and estimates from hedonic regression model parameters show that the presence of urban green areas contribute to the final property prices. The effects of proximity to urban green areas on the price of urban residential property are not homogeneous and stationary throughout urban spaces and can generate distinct spatial clusters of real estate prices: high-high and low-low. The used methodology proved to be efficient to assess the value of urban green areas with regard to the use of information, processing, data analysis, and results generated. Furthermore, it measured the impact of these areas on property prices and provided easily interpretable data that can be relevant for payments for ecosystem services policies at the local level.
Dead wood resources vary across different types of urban green spaces and depend on property prices
