Assessing External Effects of City Airports: Land Values in Berlin
AbstractThis paper employs a hedonic price model to explain standard land values in Berlin. Impact on land values is assessed for the two city airports situated in Berlin, Germany, Tempelhof and Tegel. Empirical results confirm expectations about the impact of various attributes on land values. Areas exposed to noise pollution of downtown airport Tempelhof sell at a discount of approximately 5-9% within a distance of 5000 m along the air corridor. No significantly negative impact was found for land values around Tegel Airport, which is located in a central, but less densely populated, area. Market access indicators created for all three Berlin airports in operation, including Berlin Schoenefeld International Airport, reveal clear location advantages in terms of accessibility of Tempelhof and Tegel compared to Schoenefeld Airport, where the new Berlin Brandenburg International Airport is about to be developed.
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Bibliographic InfoPaper provided by Chair for Economic Policy, University of Hamburg in its series Working Papers with number 011.
Length: 39 pages
Date of creation: 2007
Date of revision:
Publication status: Published in Hamburg Contemporary Economic Discussions, Issue 11, 2007
Air Traffic; Land Values; Airport; Hedonic Regression; Berlin;
Find related papers by JEL classification:
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Production Analysis, and Firm Location - - - Housing Supply and Markets
- R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Systems - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning
- R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock
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