Determination of the Impact of Parks and Playgrounds on House Prices in the City of Erzurum, Turkey

Abstract

Parks and playgrounds are important places in a city where various functions are performed. The subject of this study was to
determine if parks and playgrounds have economical effects on the house prices in the city of Erzurum. The correlation between
parks and playgrounds and house prices was analysed by using hedonic pricing method. With this aim, in three different sites (e.g.
the city centre, Yenisehir and Dadaskent districts), the prices and distances from nearby parks and playgrounds of the residences
were detected. Residence-owners were interviewed and the features of the residences effective on the prices and environmental
compounds were classified. Hedonic pricing method indicated that the most significant factors affecting the prices of the houses
in the city of Erzurum are those related to the features of the residences. However, playgrounds were effective on house prices but
park areas did not have significant effect on house prices in Erzurum in Turkey.