The Impact of Sports Arenas on Land Values: Evidence from Berlin
This paper develops a hedonic price model explaining standard land values in Berlin. The model assesses the impact of three multifunc-tional sports arenas situated in Berlin-Prenzlauer Berg which were de-signed 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, in-dicating that the effective impact depends on how planning authorities address potential countervailing negative externalities.
|Date of creation:||Apr 2007|
|Date of revision:|
|Publication status:||Published in Hamburg Contemporary Economic Discussions, Issue 03, 2007|
|Contact details of provider:|| Postal: Von-Melle-Park 5 D-20146 Hamburg|
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