Analysing the effects of urban design quality on residential property value in Malta : the case of Naxxar

Abstract

The qualities of urban design play a vital role in the comfort, safety, usability, and overall satisfaction of a neighbourhood. Higher qualities are known to impact the perceived satisfaction of residents, however this is rarely quantified to analyse how it relates and impacts property values. As a result, there is little empirical evidence within the local context - especially because such elements are often omitted from valuation methods. The this study focuses on the impact of proximity to amenities, the proximity and quality of open spaces, streetscape quality, and the impact of views on property values. Residential apartments located in Naxxar are the dependent variable for this study, and Naxxar was selected due to its development and neighbourhood characteristics that could help the study’s replicability in other Maltese localities. The findings of the study indicate that proximity to amenities do not correlate to property values and similar findings were found in the impact of open spaces that where analysed for their proximity as well as their quality. On the other hand, elements of streetscape quality resulted in a positive relationship to property values, while the most significant relationship was that of views. This concludes that within the local context there are particular urban design components that should be focused upon in the realms of policy and investment to increase the value in all aspects.