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

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

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Gabriel Ahlfeldt () (Chair for Economic Policy, University of Hamburg)
Wolfgang Maennig () (Chair for Economic Policy, University of Hamburg)

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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.

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Publisher Info
Paper provided by Chair for Economic Policy, University of Hamburg in its series Working Papers with number 003.

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Length: 39 pages
Date of creation: Apr 2007
Date of revision:
Publication status: Published in Hamburg Contemporary Economic Discussions, Issue 03, 2007
Handle: RePEc:hce:wpaper:003

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Find related papers by JEL classification:
R31 - Urban, Rural, and Regional Economics - - Production Analysis and Firm Location - - - Housing Supply and Markets
R53 - Urban, Rural, and Regional Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock
R5 - Urban, Rural, and Regional Economics - - Regional Government Analysis

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Halvorsen, Robert & Palmquist, Raymond, 1980. "The Interpretation of Dummy Variables in Semilogarithmic Equations," American Economic Review, American Economic Association, vol. 70(3), pages 474-75, June. [Downloadable!] (restricted)
Arne Feddersen & Wolfgang Maennig, 2005. "Trends in Competitive Balance: Is there Evidence for Growing Imbalance in Professional Sport Leagues?," Working Papers 0012005, Chair for Economic Policy, University of Hamburg. [Downloadable!]
Baade, Robert A & Dye, Richard F, 1988. "An Analysis of the Economic Rationale for Public Subsidization of Sports Stadiums," The Annals of Regional Science, Springer, vol. 22(2), pages 37-47, July.

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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Xia Feng & Brad R. Humphreys, 2008. "Assessing the Economic Impact of Sports Facilities on Residential Property Values: A Spatial Hedonic Approach," Working Papers 0812, International Association of Sports Economists. [Downloadable!]
Gabriel Ahlfeldt, 2007. "If Alonso Was Right: Accessibility as Determinant for Attractiveness of Urban Location," Working Papers 012, Chair for Economic Policy, University of Hamburg. [Downloadable!]

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