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Impact of Sports Arenas on Land Values: Evidence from Berlin

Author

Listed:
  • Gabriel Ahlfeldt

    () (University of Hamburg)

  • Wolfgang Maennig

    () (University of Hamburg)

Abstract

This paper develops a hedonic price model explaining standard land values in Berlin. The model assesses the impact of three multifunctional sports arenas situated in Berlin-Prenzlauer Berg which were designed 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, indicating that the effective impact depends on how planning authorities address potential countervailing negative externalities.

Suggested Citation

  • Gabriel Ahlfeldt & Wolfgang Maennig, 2007. "Impact of Sports Arenas on Land Values: Evidence from Berlin," Working Papers 0703, International Association of Sports Economists;North American Association of Sports Economists.
  • Handle: RePEc:spe:wpaper:0703
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    More about this item

    Keywords

    Stadium Impact; Land Gradient; Hedonic Regression; Spatial Autocorrelation; Berlin;

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock
    • R5 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis

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