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Spatial effects of urban public policies on housing values

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  • Catherine Baumont

Abstract

Problems of spatial segregation have often stressed on the social status and social capital of a neighbourhood as main driving forces behind housing price formation. In this paper, it is assumed that spatial effects are additional variables worth considering since the impact of urban policies such as social housing policies and urban regeneration policies may permeate outside the areas where they are implemented. Our case study is of the urban area of Dijon (France), where these two types of urban policies have been implemented in the last three decades. Spatial effects are introduced in the hedonic model and a spatial error model is estimated, revealing a positive and significant global spatial effect combined with the usual influence of accessibility to the CBD. We also show the negative influence of location in social housing districts and the spatial diffusion effect they exert on neighbouring districts. Copyright (c) 2009 the author(s). Journal compilation (c) 2009 RSAI.

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  • Catherine Baumont, 2009. "Spatial effects of urban public policies on housing values," Papers in Regional Science, Wiley Blackwell, vol. 88(2), pages 301-326, June.
  • Handle: RePEc:bla:presci:v:88:y:2009:i:2:p:301-326
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    2. Shanaka Herath & Johanna Choumert & Gunther Maier, 2015. "The value of the greenbelt in Vienna: a spatial hedonic analysis," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 54(2), pages 349-374, March.
    3. Jeanne DACHARY-BERNARD (UR ADBX, CEMAGREF) & Sandrine LYSER (UR ADBX, CEMAGREF) & Frédéric GASCHET (GREThA, CNRS, UMR 5113) & Guillaume POUYANNE (GREThA, CNRS, UMR 5113) & Stéphane VIROL (GREThA, CNRS, 2011. "Real Estate and Land Values on the shoreline: a transaction-level analysis (In French)," Cahiers du GREThA 2011-07, Groupe de Recherche en Economie Théorique et Appliquée.
    4. Monique DANTAS (GREThA UMR CNRS 5113) & Frédéric GASCHET (GREThA UMR CNRS 5113) & Guillaume POUYANNE (GREThA UMR CNRS 5113), 2010. "Regulatory zoning and coastal housing prices: a bayesian hedonic approach (In French)," Cahiers du GREThA 2010-12, Groupe de Recherche en Economie Théorique et Appliquée.
    5. Stéphane Virol & Guillaume Pouyanne & Sandrine Lyser & Frédéric Gaschet & Jeanne Dachary-Bernard, 2011. "L’impact de la littoralisation sur les marchés fonciers. Une approche comparative des côtes basque et charentaise," Économie et Statistique, Programme National Persée, vol. 444(1), pages 127-154.

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