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The Impact of Mixed Land Use on Residential Property Values

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Author Info

  • Hans R.A. Koster

    (VU University Amsterdam)

  • Jan Rouwendal

    (VU University Amsterdam)

Abstract

Contemporary European urban planning policies aim to mix land uses in compact neighbourhoods. It is presumed that mixing land uses yields socio-economic benefits and therefore has a positive effect on housing values. In this paper, we investigate the impact of mixed land use on housing values using semiparametric estimation techniques. We demonstrate that a diverse neighbourhood is positively valued by households. There are various land use types which positively affect house prices, e.g. business services and leisure. Land uses that are incompatible with residential land use are, among others, manufacturing and wholesale. It appears that households are willing to pay up to 6 percent more for a house in a mixed neighbourhood than for an otherwise comparable house in a monofunctional area. We also show that there is substantial heterogeneity in willingness to pay for mixed land use. For example, apartment occupiers are willing to pay almost 25 percent more for diversity than households living in detached housing.

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Bibliographic Info

Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 10-105/3.

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Date of creation: 18 Oct 2010
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Handle: RePEc:dgr:uvatin:20100105

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Web page: http://www.tinbergen.nl

Related research

Keywords: Mixed land use; diversity; hedonic price analysis; semiparametric estimation;

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  1. Willem K Korthals Altes, 2007. "The impact of abolishing social-housing grants on the compact-city policy of Dutch municipalities," Environment and Planning A, Pion Ltd, London, vol. 39(6), pages 1497-1512, June.
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Cited by:
  1. Peter Gordon & Wendell Cox, 2012. "Cities in Western Europe and the United States: do policy differences matter?," The Annals of Regional Science, Springer, vol. 48(2), pages 565-594, April.

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