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The Real Estate Valuation Of The Urban Plazas

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  • Benoit Faye
  • Eric Lefur

Abstract

Since the early 90s, European cities most affected by the crisis, sought to become attractive for residents, tourists and investors by launching extensive renovation programs. These have focused primarily on urban places due to their role as interconnection of transport networks and their ability to embed the history of the city. The planner must then consider the effect of these public investments on private property valuation. We are here assuming that the proximity of certain features of urban spaces affects property values. However, we must determine whether the effect of proximity on the price is linear or not and if this effect differs according to a typology of spaces. The significance of the statistical approach assumes to have a long observation period under duress of stability characteristics of the plazas. For the field study we chose the city of Bordeaux in France because of its history and the availability of real estate data long term. 54 plazas are included in the sample.

Suggested Citation

  • Benoit Faye & Eric Lefur, 2010. "The Real Estate Valuation Of The Urban Plazas," ERES eres2010_039, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2010_039
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2010-039
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    Cited by:

    1. Benoit Faye & Éric Le Fur, 2012. "Square, Plaza, Piazza, Place: What Do We Know about these Targets of Urban Regeneration Programmes?," Urban Studies, Urban Studies Journal Limited, vol. 49(14), pages 3081-3099, November.

    More about this item

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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