Impact of urban green and water belts on the city economy: A review of valuation aspects

Abstract

The purpose of the study is to review available economic methods for the incorporation of urban green belts and water spaces into the city development control system. The paper aims to identify economic subjects of analysis, provide a definition of approaches, and methods for ensuring the rendering of decisions in a monetized form, and outline the main directions of work for creating the legal and methodological frameworks for the formation of urban green belts. The findings indicate that the valuation treatment of urban green water belts requires them to be split into tangible and intangible asset components, with the valuation of the former amenable under the cost approach, and the valuation of the latter requiring the application of sociological (contingent) and regression-based valuation methods. We conclude with suggestions on how valuation estimates obtainable for such assets can be used in the context of urban zoning and financial municipal administration decisions.

Keywords

• urban green and water belts and water spaces (ugwb)
• green and water infrastructure
• ecosystem services
• tangible assets
• intangible assets