The Estimation of Benefits of Urban Park Improvements

Abstract

The purpose of the paper is twofold; to estimate the benefits of urban park improvement by the capital gains of property value and to identify critical factors which increase the amount of the benefits of the parks. The paper introduces the land price appraisal method and land price function approach and demonstrates the applicability of the approaches taking community parks in Tokyo as cases. It is found that the landscape effects should equal to users effects of park. Finally the paper concludes the importance of park placement taking into account of topographical conditions.