Abstract
This study explores the relationship between landscape architecture and property development. Landscape architecture emphasizes the nature of conservation, development of public parks, city parks, local parks, artificial forests, lakes, recreational areas, outdoor recreation centers, open space systems and other components of landscape architecture in providing opportunities and benefits for real estate development. Backed by ample literature review, this study reveals the significant relationship between land, real estate and landscape architecture. Landscape architecture which provides an open park and green space can be expanded to benefit the social, environment and economy through optimal used of space in property development project. Hence, this study discusses the objectives which are to determine significant factors in the development of landscape architecture, to identify the importance of landscape architecture in real estate development, and to assess the relationship between landscape architecture and property development land. This study involved 50 respondents from renowned developers; Putrajaya Holdings Sdn Bhd (PJH), Selangor State Development Corporation (PKNS), the local authority; Putrajaya Corporation (PPJ), Kajang Municipal Council (MPKj), relevant agencies; Valuation and Property Services Department-JPPH (Ministry of Finance), Department of Town and Country Planning (Peninsular Malaysia), developers registered with ReHDA and residents / property owners in the study area. To conclude, this study offers adequate benefits to policy makers, also relevant agencies such as the local authorities, landowners, property developers, the relevant professionals and communities on the positive effects and significant relationships between landscape architecture and property development. Keywords: landscape architecture, real estate, property development, relationship, assess
Highlights
Property development is an important component of the economy
The process of primary data collection was done using two methods, namely through the distribution of questionnaires and interviews disseminated to registered developers involved with the Association of Real Estate and Housing Developers' Malaysia (ReHDA), the owners of the Property, Valuation and Property Services Department (Ministry of Finance), Putrajaya Corporation (PPJ), Putrajaya Holdings Sdn Bhd (PJH), Kajang Municipal Council (MPKj), Selangor State Development Corporation (PKNS), the Department of Town and Country Planning (Peninsular Malaysia) and the individuals or organizations concerned
Results of the analysis have shown that there is a significant relationship between gender and development
Summary
Property development is an important component of the economy. it is necessary to have a clear and transparent policy used for property development as a major contribution to the economy of the country. The property market may not be completely perfect This vulnerability requires specialization and expertise to be able to interpret and determine the market value of that assessment despite the imperfection, but the traded assets can be allocated and interpreted accurately. The property market has consistently shown that people are willing to pay more for properties located in areas with quality landscape, normally close to parks and open space. These areas will get the benefit of appreciation in capital value. The high value for this property means that the owners pay higher property taxes This is the capitalization of land use on park property. In most relationships where the parks increase the property value, property tax increases will be placed into the general fund along with all other property tax collections
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