THE INFLUENCE OF URBAN LACK OF SAFETY AND PREVENTIVE MEASURES ON PROPERTY VALUES: SYSTEMATIC REVIEW AND META-ANALYSIS

Urban crime and crime prevention measures can influence perceptions of safety, neighborhood desirability, and real estate dynamics in urban areas. Through a Systematic Literature Review (SLR) and meta-analysis, this study analyzes the influence of the aforementioned factors on real estate values. To this end, 50 peer-reviewed publications indexed by Scopus, Web of Science, and Google Scholar were selected according to defined eligibility criteria. The aim of the study is to answer research questions concerning the impact on property values of the following phenomena: 1) urban insecurity; 2) traditional and social crime prevention measures; 3) Crime Prevention Through Environmental Design (CPTED); 4) CPTED applied to urban green spaces. The results show that urban crime, in the absence of adequate prevention measures, has a negative impact on property values, with devaluations of up to 12–19% depending on the context. Although traditional and social crime prevention measures show positive effects on property values, the available studies are still limited. The CPTED approach also appears to have a significant impact on the real estate market, but research in this area is lacking, particularly in quantitative terms, and is even scarcer when applied to urban green areas. The SLR reveals theoretical, operational, and social implications regarding the relationship between urban crime, prevention strategies, and real estate dynamics, which are useful for researchers, urban planners, and real estate players.