Does fear of crime affect apartment prices?
Abstract
Evidence shows that crime affects housing prices. However, whether fear of crime impacts equally on prices of properties is an issue little investigated in the international literature. In this article we assess the impact of perceived safety on housing prices in the city of Stockholm, capital of Sweden. The study uses data over apartment sales and responses of 2008’s Stockholm Safety Survey aggregated by parishes. The effect of perceived safety is assessed using hedonic pricing modelling controlling for a number of land use covariates using Geographical Information System (GIS). The paper finalises with a discussion of the key findings of study.Download Info
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Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa10p1012.Length:
Date of creation: Sep 2011
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Handle: RePEc:wiw:wiwrsa:ersa10p1012
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- 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..
- Pope, Jaren C., 2008. "Fear of crime and housing prices: Household reactions to sex offender registries," Journal of Urban Economics, Elsevier, vol. 64(3), pages 601-614, November.
- Steve Gibbons, 2004.
"The Costs of Urban Property Crime,"
Economic Journal,
Royal Economic Society, vol. 114(499), pages F441-F463, November.
- Steve Gibbons, 2003. "The Costs of Urban Property Crime," CEP Discussion Papers dp0574, Centre for Economic Performance, LSE.
- Thaler, Richard, 1978. "A note on the value of crime control: Evidence from the property market," Journal of Urban Economics, Elsevier, vol. 5(1), pages 137-145, January.
- Vania A Ceccato & Folke Snickars, 2000. "Adapting GIS technology to the needs of local planning," Environment and Planning B: Planning and Design, Pion Ltd, London, vol. 27(6), pages 923-937, November.
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