Abstract
The influence of architecture on real estate market value: A methodological framework
Highlights
The research on built environments is rather fragmented between architectural professionals, economists, geographers, and other fields
While many studies have focused on determinants of the real estate market value, the aim of this research is to capture the areas of influence of architectural variables on the market value of the property
The way we look here at architecture is broadly speaking and defined by space because it includes all our surroundings, be it a system of streets and bridges or districts and buildings, including the outside and inside
Summary
The research on built environments is rather fragmented between architectural professionals, economists, geographers, and other fields. Architecture is the basic element that co-creates the human environment (inside the building as well as in the built landscape) It is seen through the prism of technology, engineering, most often construction (a narrow approach), culture, and art and the processes of shaping space (a wider approach). There is a need to consider other requirements, such as the friendliness and accessibility of the environment, rationality and space saving, biodiversity, and saving natural resources, especially energy and water. These include studies on spatial dependency and architectural design or style and their impact on the real estate market value. There is a critical emphasis in this study on the monetary dimension of the real estate valuation, which omits the nonmarket properties of the real estate
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