Urban nature quality rating – Unique

Lead Participant: STARLAB LIMITED

Abstract

In cities people consider scenes that include natural elements to be of higher visual quality than those with only man made features. Higher property values, cleaner air, moderated storm runoff, reduced energy consumption and improved health are some of the direct albeit tangible benefits and functions that urban nature provides. Current and prospective property owners face difficulties in quantifying and expressing the value of the surrounding urban nature. The provision of data on the quality of urban nature will provide a technical benchmark based on space technology to perform innovative analyses of value variations as a function of the proximity of property to urban nature. The information provided will serve two types of users: property appraisal professionals and retail market research developers. These two groups of users can factor the value of nature into their calculations of the economic value of a given property and individuals can consider the proximity of nature to a property as a factor to be considered when looking for a property to buy/rent. The UNIQUE project will provide the opportunity to evaluate and validate the exportation of previous business and technical development to the real estate market. The proof-of-market will support our activities of getting commitment from potential customers and, through the feasibility study, develop a Minimum Valuable Product, corresponding to the real user needs, for future customer prospection and service development.

Lead Participant

Project Cost

Grant Offer

STARLAB LIMITED £142,714 £ 99,900

Publications

10 25 50