Assessing External Effects of City Airports: Land Values in Berlin

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Assessing External Effects of City Airports: Land Values in Berlin

Author Info

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 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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Publisher Info
Paper provided by Chair for Economic Policy, University of Hamburg in its series Working Papers with number 011.

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Length: 39 pages
Date of creation: 2007
Date of revision:
Publication status: Published in Hamburg Contemporary Economic Discussions, Issue 11, 2007
Handle: RePEc:hce:wpaper:011

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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
R42 - Urban, Rural, and Regional Economics - - Transportation Systems - - - Government and Private Investment Analysis
R53 - Urban, Rural, and Regional Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock

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)
George Galster & Peter Tatian & Kathryn Pettit, 2004. "Supportive Housing and Neighborhood Property Value Externalities," Land Economics, University of Wisconsin Press, vol. 80(1), pages 33-54. [Downloadable!] (restricted)
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.. [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!]

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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.)

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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