An Update of the Literature Supporting the Economic Benefits of Plants: Part 3 – The Downside of Increased Housing Prices

This paper provides a review of the key research efforts that provide evidence of one of the more prominent economic externalities associated with plants and improved landscaped areas. These potential externalities stem from improved property values and the resulting possibility of green gentrification that arises from them. Ironically, the promise of improved property value may persuade reluctant residential homeowners to purchase plants and improve their landscapes, aid municipal leaders and policymakers in justifying green infrastructure-related funding decisions, and provide grounds for the landscape and general construction industries for using biophilic design principles to ensure the built environment offers opportunities for beneficial green space interactions. However, policy measures must be included in the planning stages of green infrastructure projects so that detrimental green gentrification does not occur. In this way, the green industry can play a pivotal role not only in providing quality plants for these applications, but in educating stakeholders regarding the equitable distribution of economic benefits discussed herein. This research should also be strategically incorporated into both industry-wide and firm-specific marketing messages that highlight the quality-of-life value proposition in order to maintain the industry’s sense of value and relevance to residential homeowners and municipalities of the future. If implemented effectively, the demand for plants and green industry services may be affected positively and equitably.