University of Hamburg Working Paper Series in Economic Policy, No. 3, 2007
39 Pages Posted: 30 Jan 2010
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.
Keywords: Stadium Impact, Land Gradient, Hedonic Regression, Spatial Auto-correlation, Berlin
JEL Classification: R31, R53, R5
Suggested Citation: Suggested Citation
Ahlfeldt, Gabriel M. and Maennig, Wolfgang, The Impact of Sports Arenas on Land Values: Evidence from Berlin. University of Hamburg Working Paper Series in Economic Policy, No. 3, 2007. Available at SSRN: https://ssrn.com/abstract=1540596 or http://dx.doi.org/10.2139/ssrn.1540596