We know that with high density development, such as the one in Pierrefonds, the removal of green spaces leads to sharp decreases in property values. Home owners closest to the new construction will take the greatest losses, about 20% or more of their equity.A $400,000 dollar home will lose about $80,000 of its value. We also know that increased population will lead to higher taxes, more crime, and much more traffic. So what other reasons do we have for keeping our green spaces?
Homes that are adjacent to naturalistic parks and open spaces are valued at 10-20% higher than comparable properties, with the positive price effect declining to near zero about ½ mile away.