Abstract
A hedonic model to the Prague real estate market was applied in order to estimate the effects of the proximity to urban forests and parks on prices of the real estate. Therefore, a large database of 1,701 observations was constructed.
This database contains structural aspects, accessibility characteristics and environmental variables on proximity and size of the nearest urban forest. Several regression models have been developed and their robustness has been tested in terms of the significance of parameters and the size of variability explained.
Results showed the size of the flat is the most relevant variable explaining the price of the real estate. A significant inverse relationship between the price of the real estate and its distance from a metro station and an urban forest has also been found.