With the state of the housing market, it’s hard to imagine an increase in real estate values, but a study by professors says otherwise.

The study concluded that real estate developers, under certain circumstances, have an economic incentive to incorporate more open space in their design of residential subdivisions in marshland environments.

Going green has taken on new economic significance, especially in coastal environments.

Warren Kriesel and Jeffrey Mullen, professors of agricultural and applied economics, studied the variables that affect real estate value in coastal environments in Savannah.

Their results found that conserving undeveloped land increases property values of homes, creating revenues for developers and local governments.

“Home buyers place these premiums on property developments with green characteristics, either for pragmatic reasons – they think the resale value will be higher or for more personal reasons – the warm fuzzies from passing on a better environment,” Kriesel said. “Either way, small contributions are being made to a better environment.”

Although coastal property is naturally worth more, developers are encouraged to conserve the land surrounding properties rather than build paved areas or clutter coastal land with houses and hotels.

Paved areas prevent surrounding soil from absorbing rain and pollutants, often resulting in oil and pesticides ending up in salt water environments.

The study states environmental amenities of property do not affect real estate value in a strict sense, but rather in varying degrees.

In non-coastal environments, researchers using similar methods have investigated the effects of other amenities, Kriesel said.

In North Carolina, a study found that homes near pig farms suffer price declines.

Types of open space including forest versus pasture and who owns the land (public or private) are environmental factors that affect values, he said.

Brittany Cantrell, a senior from Canton majoring in environmental health science, interned with the water resources division of the Savannah Metropolitan Planning Commission.

“The more students are aware of current environmental design trends, the more likely they are to seek them out when buying a home.”