November 27, 2011.  Research from the University of Sheffield suggests that people are willing to pay more for green urban spaces. On average people were willing to spend about $600 per year for such things as ornamental or full sized trees, natural vegetation, and other green rights-of-ways along rivers.

The study noted that people were willing to pay the most for large trees and for areas which were allowed to maintain or regenerate to natural state, suggesting that people most highly value the natural environment.

The study, undertaken as part of the broader Valuing Attractive Landscapes in the Urban Economy (VALUE), has implications for land-use and urban planning, real-estate value, and other markets which seek to place value on existing or regenerated forested areas and other natural environments.

By demonstrating that people will indeed pay for natural green spaces, the research supports ongoing work by the UN's REDD+ programme to 'create financial value for carbon stored in forests'.

Demonstrating that people will pay to maintain or conserve green spaces highlights the 'use-value' of these places, and creates opportunities for new conversations around conservation and the economic opportunities of preserving forests.