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The impact of infrastructure setting litigation on residential property values in Paris’s suburban zones

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  • Pham, Hai Vu
  • Simon, Arnaud
  • Torre, André

Abstract

The presence of nearby public facility contributes to real-estate’s value, that’s why the market may expect impact of public project on house’s price. But undesirable and semi-desirable facility location choices can be contested by close inhabitants, because they are source of negative externalities or negative expectations. In suburban zones of Paris’s agglomeration, the oppositions to these infrastructures become frequent, and an official project’s announce does not mean automatically its implementation. Through 3 case studies, we explore the way the expectation mechanism is affected by legal conflicts driven by close inhabitants. We suppose that the expectation process depends on the to-be-realized-chance of the project. As the conflict activities amplify or reduce the certainty on the new facility’s arrival, market’s perception on the infrastructure varies among the different periods of conflicts. The variation is captured by our hedonic model.

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Bibliographic Info

Paper provided by Paris Dauphine University in its series Economics Papers from University Paris Dauphine with number 123456789/5658.

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Date of creation: Jun 2010
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Handle: RePEc:dau:papers:123456789/5658

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Related research

Keywords: market’s expectation; facility setting conflict; house’s price;

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References

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  1. Farber, Stephen, 1998. "Undesirable facilities and property values: a summary of empirical studies," Ecological Economics, Elsevier, vol. 24(1), pages 1-14, January.
  2. Jean Cavailhès & Pierre Frankhauser & Dominique Peeters & Isabelle Thomas, 2002. "Aménités urbaines et périurbaines dans une aire métropolitaine de forme fractale," Revue d'économie régionale et urbaine, Armand Colin, vol. 0(5), pages 729-760.
  3. Cheshire, Paul & Sheppard, Stephen, 1995. "On the Price of Land and the Value of Amenities," Economica, London School of Economics and Political Science, vol. 62(246), pages 247-67, May.
  4. Gayer, Ted & Kip Viscusi, W., 2002. "Housing price responses to newspaper publicity of hazardous waste sites," Resource and Energy Economics, Elsevier, vol. 24(1-2), pages 33-51, February.
  5. V. Smith & Ju Huang, 1993. "Hedonic models and air pollution: Twenty-five years and counting," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 3(4), pages 381-394, August.
  6. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  7. Oates, Wallace E, 1969. "The Effects of Property Taxes and Local Public Spending on Property Values: An Empirical Study of Tax Capitalization and the Tiebout Hypothesis," Journal of Political Economy, University of Chicago Press, vol. 77(6), pages 957-71, Nov./Dec..
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