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Sports Arenas, Teams and Property Values: Temporary and Permanent Shocks to Local Amenity Flows

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  • Chikish, Yulia
  • Humphreys, Brad R.
  • Nowak, Adam

Abstract

Professional sports facilities and teams generate local amenity ows in cities that may aect property values. Previous research shows evidence of important positive and negative local amenity ows based on case studies of changes in residential property values in specic cities. We analyze changes in residential property values in Oklahoma City over a period, 2000 to 2016, where both temporary and permanent exogenous shocks to local sports-related amenities occurred. Results from hedonic price models and repeat sales regression models show that nearby residential property prices increased after the opening of a new arena and the arrival of a new, permanent NBA team in the city. The presence of a temporary NBA team visiting the city also had a positive impact.

Suggested Citation

  • Chikish, Yulia & Humphreys, Brad R. & Nowak, Adam, 2019. "Sports Arenas, Teams and Property Values: Temporary and Permanent Shocks to Local Amenity Flows," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 49(1), February.
    • Handle: RePEc:ags:jrapmc:339926
    DOI: 10.22004/ag.econ.339926
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    Cited by:

    1. Propheter, Geoffrey, 2020. "The effect of a new sports facility on property development: Evidence from building permits and a localized synthetic control," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 50(1), December.

    More about this item

    JEL classification:

    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy
    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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