Valuing individual characteristics and the multifunctionality of urban green spaces: The integration of sociotope mapping and hedonic pricing.

We categorize Stockholm's urban green spaces according to the use values and social meanings they support, based on a sociotope mapping, and estimate their impact on property prices with a hedonic pricing model. The approach allows us to identify the most and least desired green space characteristics (attributes) and to assess the willingness to pay for the multifunctionality of green spaces. To do this, we test the following hypotheses, each with a separate hedonic pricing model: the proximity of all green space characteristics increases the property prices, but the specific monetary value of these characteristics differs;the multifunctionality of green spaces is well recognized and highly valued by real estate buyers.