The Impact of the London Olympics Announcement on Property Prices
This study estimates the impact of the London 2012 Olympics announcement on property prices. Using a self-constructed dataset of a sample of property transactions, it is estimated that properties in host boroughs are sold between 2.1 and 3.3 per cent higher, depending on the definition of the impact area. A similar investigation based on radius rings suggests that properties up to three miles away from the main Olympic stadium sell for 5 per cent higher. It is estimated that the overall impact on the price of properties in host boroughs amounts to Â£1.4 billion, having substantial social and financial implications for existing residents.
Volume (Year): 49 (2012)
Issue (Month): 7 (May)
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