https://www.anywhereis.re/blog/the-realsource/2024/06/17/do-parks-and-playgrounds-affect-home-valueThis 2-bedroom, 3-bath townhome sits in the #1 location in all of Upper La Jolla, with its front door opening directly onto a 5-acre manor-style park. Research shows parks increase home values by 8% to 32%, depending on proximity and park quality—making this a rare opportunity to unlock prestige and equity in one move. The Park Catalog – Parks and Home Values Arvy Estate – 32% Growth Near Parks Whether marketed as a vacation retreat, student investment, or legacy home, this property offers unmatched appeal. Studies have shown that proximity to parks and green spaces can significantly increase property values. This phenomenon is sometimes referred to as the "proximate principle". Here's why park locations are often considered more valuable: Enhanced Quality of Life: Access to parks offers opportunities for recreation, relaxation, and connection with nature, which contributes to a higher quality of life for residents. Aesthetic Appeal: Green spaces, trees, and well-maintained parks make a neighborhood visually more appealing, increasing desirability and curb appeal. Health and Well-being Benefits: Living near parks and green spaces has been linked to improved physical and mental health due to increased physical activity and opportunities for stress reduction. Community and Social Opportunities: Parks serve as gathering spaces for social events, sports, and recreational activities, fostering a stronger sense of community and belonging. Environmental Benefits: Trees and plants in parks absorb pollutants, improve air quality, regulate temperature, and aid in stormwater runoff, making the area healthier and more resilient to climate impacts. Increased Demand: The desirable amenities and benefits associated with living near parks lead to higher demand for properties in those areas, which can result in faster appreciation rates and potentially higher resale values. Impact on property value Homes adjacent to or fronting a passive park area can experience a 20% increase in value on average. Inner city homes within a quarter mile of a park can see a 10% increase in value on average. Properties near a longer "greenbelt" area suitable for hiking and biking may see an average increase in value of up to 32%. Even small green spaces with mature trees providing shade can increase a home's value by 2% to 17%.