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The Impact of Sports Arenas on Land Values: Evidence from Berlin

University of Hamburg Working Paper Series in Economic Policy, No. 3, 2007

39 Pages Posted: 30 Jan 2010  

Gabriel M. Ahlfeldt

London School of Economics & Political Science (LSE) - Department of Geography and Environment

Wolfgang Maennig

Universit├Ąt Hamburg, Faculty of Business, Economics and Social Sciences

Abstract

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

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

Gabriel M. Ahlfeldt

London School of Economics & Political Science (LSE) - Department of Geography and Environment ( email )

Houghton Street
WC2A 2AE London
United Kingdom

HOME PAGE: http://personal.lse.ac.uk/ahlfeldg/

Wolfgang Maennig (Contact Author)

Universit├Ąt Hamburg, Faculty of Business, Economics and Social Sciences ( email )

Von-Melle-Park 5
Hamburg, 20146
Germany

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