The Impact of Sports Arenas on Land Values: Evidence from Berlin
Gabriel M. Ahlfeldt
London School of Economics & Political Science (LSE) - Department of Geography and Environment
University of Hamburg - Faculty of Economics and Business Administration
University of Hamburg Working Paper Series in Economic Policy, No. 3, 2007
This paper develops a hedonic price model explaining standard land values in Berlin. The model assesses the impact of three multifunc-tional sports arenas situated in Berlin-Prenzlauer Berg which were de-signed to improve the attractiveness of their formerly deprived neighbourhoods. Empirical results confirm expectations about the impact of various attributes on land values. Sports arenas have significant positive impacts within a radius of about 3000 meters. The patterns of impact vary, in-dicating that the effective impact depends on how planning authorities address potential countervailing negative externalities.
Number of Pages in PDF File: 39
Keywords: Stadium Impact, Land Gradient, Hedonic Regression, Spatial Auto-correlation, Berlin
JEL Classification: R31, R53, R5
Date posted: January 30, 2010
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