Land value maps of naturally valuable areas.

Abstract

The proposed method for analyzing the impact of environmental aĴ ributes on the value and prices of property may be a helpful tool in real estate management and spatial planning. It is particularly useful in areas of high scenic value which have been zoned for recreational and residential development. Cokriging supports the development of land value maps when prices are correlated with variables that are easy to measure based on the existing sources of data. The discussed methods can be deployed not only in environmentally valuable areas, but also in regions where market data are available and the spatial structure of environmental aĴ ributes that shape transaction prices is known.