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Impact of Sports Arenas on Land Values: Evidence from Berlin

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  • Gabriel Ahlfeldt

    ()
    (University of Hamburg)

  • Wolfgang Maennig

    ()
    (University of Hamburg)

Abstract

This paper develops a hedonic price model explaining standard land values in Berlin. The model assesses the impact of three multifunctional sports arenas situated in Berlin-Prenzlauer Berg which were designed 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, indicating that the effective impact depends on how planning authorities address potential countervailing negative externalities.

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File URL: http://college.holycross.edu/RePEc/spe/AhlfeldtMaennig_PropertyValues.pdf
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Bibliographic Info

Paper provided by International Association of Sports Economists & North American Association of Sports Economists in its series Working Papers with number 0703.

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Length: 33 pages
Date of creation: Apr 2007
Date of revision:
Handle: RePEc:spe:wpaper:0703

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Keywords: Stadium Impact; Land Gradient; Hedonic Regression; Spatial Autocorrelation; Berlin;

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