Abstract:
Sustainable development is a utopian aspiration for most modern urban areas. Sustainable development, as defined
in literature, always includes three dimensions: social aspects, the economy and the environment. Sustainable
development is the fine balancing act of these three dimensions. However, ten years since the introduction of the
sustainable development concept, it is still not fully realised in practice and implemented in the urban environment,
and reasons are being sought to clarify this reality. This study evaluates sustainable development from a spatial
planning and economics perspective, arguing that the unequal prioritisation between pro–development approaches
and pro–environmental approaches is the greatest reason for unsustainable urban areas. The economy (along with
development pressures) and the environment (along with green space protection initiatives) should be planned
holistically in order to reach a state of urban sustainability. Reality reveals however, that the environment is often
neglected, and sometimes sacrificed to benefit and enhance urban development. This is mainly a result of land–use
planning decision–making and the perceptions of local authorities with regard to the function and value of
environmental areas (green spaces), in comparison to urban areas. Urban areas are valued higher than green
spaces; mainly because urban areas can be measured (valued) in terms of monetary value (property prices or
revenue drawn from development) and green spaces mainly have indirect, unmeasurable value (social,
environmental). This study aimed to link green spaces and economic benefit in an attempt to quantify the intrinsic
value of the green spaces, as a way to enhance green space planning. The increasing rate of worldwide urbanisation
is compounding this problem as green spaces are sacrificed for residential and commercial developments. This
widespread trend of green space loss is of international concern. From the objectives of urban economics and
environmental (green) economics, it is believed that authorities will value green spaces better when a monetary value
can be connected to it. The ability to influence land–use decisions is an essential economic development instrument,
as land–use is an important factor in urban economic growth and development due to its contribution to desirability
and productivity of a city. In this way economic theories and models can significantly enhance and guide future
spatial planning decision–making processes. In the attempt to valuate green spaces in South Africa, Potchefstroom
where used as a case study, identifying the linkages between local green spaces and residential property prices.
Preliminary results were contrary to the general tendency in developed countries that property value increases with
proximity to green areas, but it highlighted the city–scale and neighbourhood–scale benefit of green spaces. A tool
was proposed for local authorities to evaluate green spaces in order to be able to compare revenue gained from
developmental projects versus environmental projects on an equal platform, resulting in a balanced sustainable
development vision and guide for future decision–making within the spatial planning process.
