The significance of architectural attractiveness in creating property value - a case study of Poznań

Abstract

The aim of this article is to present the relationship between architectural attractiveness and property value. As a valuable asset of a city attractive architecture gives value added to an area, yielding economic and marketing benefits. Attractive buildings become factors determining investment attractiveness by building up the image, brand, and market position of the property. Analysis of the empirical material allowed the formulation of two valid conclusions. Firstly, architectural attractiveness has a marginal influence on the property value. Second, this feature has a competitive advantage when comparing several properties with similar attributes.(original abstract)