Insurance News Archive

Greenery 'brings up property value'

Oases of green in the middle of the urban jungle can add to the quality of life and the experience of people who live, work and shop in an area, according to the Commission for Architecture and the Built Environment (CABE).

Because there is not an endless supply of greenery, it is viewed as being at a premium so being near parks or open green spaces can add value to commercial properties.

CABE spokesman Paul Morrell said: "Parks, gardens and squares are places of relaxation, recreation, refreshment and relief; but these are qualities that are in short supply in our towns and cities, and things that are in short supply are valued."

And GreenSpace, a charity trying to improve parks and green spaces, agrees that there are environmental, economic and environmental benefits to being near green spaces.

Paul Bramhill, the charity's chief executive suggested that parks are likely to become more coveted and hence more valuable.

He said: "As our cities warm up due to climate change, parks will become increasingly important."

30 Aug 2007