Moro, Mirko Mayor, Karen Lyons, Seán Tol, Richard S. J.
Year of Publication:
ESRI working paper 386
Does the housing market reflect cultural heritage? We estimate several specifications of a hedonic price equation to establish whether distance to cultural heritage site is capitalised into housing prices in Greater Dublin, Ireland. The results show that distance to the nearest historic building has a significant and robust effect on housing prices. To our knowledge this is the first application of the hedonic price method to cultural heritage.
cultural economics cultural heritage hedonic price hedonic regression non-market valuation