Method for determining influence of proximity to lake on undeveloped land prices : A case study of the Czorsztyn Reservoir
DOI:
https://doi.org/10.24425/jwld.2025.156058Abstract
Empirical studies consistently demonstrate a positive correlation between proximity to environmental amenities - particularly blue spaces such as lakes and coastlines - and property values. This study aims to assess how proximity to a lake influences the prices of undeveloped investment land using an averaging method to isolate this specific attribute. The research methodology based on spatial analysis and linear regression was designed to maximise automation in determining the relationship between land prices and the distance from the lake through standardisation and algorithmisation of the process. This standardisation enhances the applicability of the results to other areas with similar characteristics. The study area encompasses a 3,000-metre-wide buffer zone surrounding Lake Czorsztyn, located in southern Poland. The results indicate that with every 100-metre increase in distance from the lake, the price of land within the study area decreases by an average of 2.1%. This quantitative relationship can be directly applied in real estate valuation. The findings can also support spatial planning aligned with the principles of sustainable development. Accounting for economic factors - such as the impact of proximity to the lake on land values - enables more rational land-use decisions that consider both environmental and economic aspects of the region.References
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