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Fachbereich Volkswirtschaftslehre - Lehrstuhl für Wirtschaftspolitik, Universität Hamburg >
Hamburg Contemporary Economic Discussions, Lehrstuhl für Wirtschaftspolitik, Universität Hamburg >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/25361
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| Title: | | Monument protection: internal and external price effects  |
| Authors: | | Ahlfeldt, Gabriel M. Maennig, Wolfgang |
| Issue Date: | | 2008 |
| Series/Report no.: | | Hamburg contemporary economic discussions 17 |
| Abstract: | | This paper analyses the impact of heritage-listed buildings on condominium transaction prices in Berlin, Germany. We use transaction data to test for price differentials between listed and nonlisted properties and to study their impact on surrounding property prices. Proximity to built heritage is captured by distance to listed houses and indicators capturing neighborhoods with built heritage. Impact is assessed by applying a hedonic model to micro-level data and a non-parametric approach to location. While our findings suggest that listed properties do not sell at a premium or discount, heritage- listed buildings are found to have positive external effects on surrounding property prices. |
| Subjects: | | Cultural economics built heritage heritage significance real estate economics Berlin |
| JEL: | | R21 R52 Z19 |
| ISBN: | | 978-3-940369-49-9 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Hamburg Contemporary Economic Discussions, Lehrstuhl für Wirtschaftspolitik, Universität Hamburg
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