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Assessing External Effects of City Airports: Land Values in Berlin

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  • Gabriel Ahlfeldt

    ()
    (Chair for Economic Policy, University of Hamburg)

  • Wolfgang Maennig

    ()
    (Chair for Economic Policy, University of Hamburg)

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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File URL: http://www.hced.uni-hamburg.de/WorkingPapers/HCED_11.pdf
File Function: First version, 2007
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Bibliographic 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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Related research

Keywords: Air Traffic; Land Values; Airport; Hedonic Regression; Berlin;

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References

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  1. 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.
  2. 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.
  3. 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..
  4. Dean H. Gatzlaff & Marc T. Smith, 1993. "The Impact of the Miami Metrorail on the Value of Residences near Station Locations," Land Economics, University of Wisconsin Press, vol. 69(1), pages 54-66.
  5. 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.
  6. Charles C. Tu, 2005. "How Does a New Sports Stadium Affect Housing Values? The Case of FedEx Field," Land Economics, University of Wisconsin Press, vol. 81(3).
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Citations

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Cited by:
  1. Torberg Falch & Justina AV Fischer, 2008. "Public sector decentralization and school performance: International evidence," Working Paper Series 9508, Department of Economics, Norwegian University of Science and Technology.
  2. Volker Nitsch, 2009. "Fly or Cry: Is Airport Noise Costly?," CESifo Working Paper Series 2732, CESifo Group Munich.
  3. Fischer, Justina AV & Sousa-Poza, Alfonso, 2010. "The impact of institutions on firms’ rejuvenation policies: Early retirement with severance pay versus simple lay-off. A Cross-European Analysis," MPRA Paper 20343, University Library of Munich, Germany.
  4. Andreas Mense & Konstantin Kholodilin, 2014. "Noise expectations and house prices: the reaction of property prices to an airport expansion," The Annals of Regional Science, Springer, vol. 52(3), pages 763-797, May.
  5. 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.

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