Urban green and recreational spaces are important for residents and one of the foundations
for the functioningof cities. They offer numerous benefits, including the influence
on the price of real estate as an economic benefit.In this paper, the influence of
green and recreational areas in Zagreb on the price of apartments in residential buildings
is analysed using the hedonic pricing model. The data for the study was processed
and analysed using a geographic information system. A local hedonic price model was
developed. The results show that some of the observed green and recreational areas
increase the price of housing due to their proximity, while others decrease it. Some
areas have no influence on the price of housing. The influence of the observed areas
on housing prices was heterogeneous. Spatial differences were also found in the influence
of the observed areas on housing prices. The most attractive factors when choosing
a place to live are Jarun and the parks in the city centre. The price of apartments
that near the Jarun increases by 41 EUR/m2 if the apartment is 100 m closer to the
Jarun. The price of the apartment increases by 91 EUR/m2 the closer the apartment
is to the parks in the city centre (per 100 m). Apartments near Jarun and the parks
in the city centre are not available for residents with lower socio-economic status.
The forest areas, Maksimir Park and the banks of the Sava river are not favoured when
choosing a place to live. Neighbourhoods near these areas are available to the lower
socioeconomic status population. Bundek raises the price of one part of the apartments
and lowers the price of the other. The results of this study can contribute to the
study of green gentrification in Zagreb, but further research is needed on socio-economic
indicators and other changes in the region.
