Parks can boost property values by 20 percent

HOUSTON – The city’s recent emphasis on park development is creating real estate value beyond the obvious lifestyle benefits. Parks and trails systems deliver significant value to properties near the public green spaces, local valuation firm Deal Sikes & Associates reports.

"Properties located adjacent to one of Houston’s premier parks typically receive more than a 20 percent positive impact in value because of their proximity to these outstanding public spaces," says Matthew Deal, principal of Deal Sikes & Associates. "Quality parks deliver value to both residential and commercial properties, including land parcels and high-rise, mid-rise and single-story buildings.

"Even properties that are located more than 1,000 feet from a park can receive a positive valuation impact of 5 to 10 percent," Deal says.

Just having a great view of a park can contribute significantly to the overall property value, says Mark Sikes, another principal with the realty valuation firm.