2501. The Impact of Sports Arenas on Land Values: Evidence from Berlin
- Author:
- Gabriel Ahlfeldt and Wolfgang Maennig
- Publication Date:
- 01-2007
- Content Type:
- Working Paper
- Institution:
- Chair for Economic Policy, University of Hamburg
- 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.
- Topic:
- Economics, Sports, and Land
- Political Geography:
- Europe, Germany, and Berlin