An Update of the Literature Supporting the Economic Benefits of Plants: Part 2 – Increased Property Values

Abstract

AbstractThis paper provides a review of the key research efforts that provide evidence of one of the more prominent economic benefits associated with plants and improved landscaped areas – improved property values. These benefits may persuade reluctant residential homeowners to purchase plants and improve their landscapes, may aid municipal leaders and policymakers in justifying green infrastructure-related funding decisions, and may provide grounds for the landscape and general construction industries for using biophilic design principles to ensure the built environment offers opportunities for green space interactions. In this way, the green industry can play a pivotal role not only in providing quality plants for these applications, but in educating stakeholders regarding the economic benefits discussed herein. This research should also be strategically incorporated into both industry-wide and firm-specific marketing messages that highlight the quality-of-life value proposition in order to maintain the industry's sense of value and relevance to residential and municipal landscape consumers of the future. If implemented effectively, the demand for green industry products and services may be affected positively.