Do area-based intervention programs affect house prices? A quasi-experimental approach

Aarland, Kristin; Osland, Liv; Gjestland, Arnstein

doi:10.1016/j.jhe.2017.05.002

Cited by 9 publications

(8 citation statements)

References 39 publications

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“…Koster and Rouwendal (2017) study the economic effects of public investments in the renovation and maintenance of historic buildings, showing that 1 million euro per square kilometers increase in investment leads to 1.5-3% increase in housing prices. Aarland et al (2017) exploit quasi-experimental approach and the spatial error model to investigate the impact of area-based intervention programs in Norway with mixed results. Significant housing price appreciation is discovered in two areas, while, in other areas, the programs have no significant or even negative impact on house prices.…”

Section: Literature Reviewmentioning

confidence: 99%

Adaptive Reuse of Religious Heritage and Its Impact on House Prices

Liu

2020

J Real Estate Finan Econ

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Due to social demographic change and secularization, religious heritage sites in Europe are on the verge of losing their original functions. While the adaptive reuse seems to be a proactive strategy to preserve the historical and cultural value embedded in religious heritage sites, little is known concerning its external impact. This paper aims to fill this gap by investigating the external effect of reusing religious heritage on surrounding house prices. Employing both the parametric and non-parametric difference-in-differences hedonic model on a sample of 42 projects of reusing religious heritage and a rich dataset of housing transactions in the Netherlands, we find significant positive externality of reusing religious heritage on local house prices. The external effects are heterogeneous across differentiated project size and monumental status. Larger religious heritage reuse projects and those listed as national monuments exert greater influence on surrounding house prices.

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Section: Literature Reviewmentioning

confidence: 99%

Adaptive Reuse of Religious Heritage and Its Impact on House Prices

Liu

2020

J Real Estate Finan Econ

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“…Which is more efficient, area‐based initiatives (Aarland et al . ) or interventions targeted towards individual families?…”

Section: Background: Prior Studiesmentioning

confidence: 99%

“…Scepticism can just as well be rooted in a disagreement on at what level policies to reduce inequalities should be directed. Which is more efficient, area-based initiatives (Aarland et al 2017)…”

Section: Background: Prior Studiesmentioning

confidence: 99%

“…; Aarland et al . ). The rationale behind these policies is a presumption that neighbours exercise some kind of (causal) effects upon each other.…”

Section: Introductionmentioning

confidence: 97%

“…Across Europe a number of policy initiatives aims to reduce differences between neighbourhoods (Musterd et al 2012;Aarland et al 2017). The rationale behind these policies is a presumption that neighbours exercise some kind of (causal) effects upon each other.…”

Section: Introductionmentioning

confidence: 99%

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Neighbourhood Poverty and Individual Earnings: Tales of Two (Norwegian) Cities

Nordvik¹,

Turner²,

Friedrichs

2019

Tijd voor Econ & Soc Geog

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Across cities, one observes similarities in poverty and earnings of individuals within the same neighbourhood. Are these similarities due to causal influences neighbours exercise upon each other or to spatial sorting? We analyse this within the frame of a fixed effects model, estimated on a register‐based panel covering all residents of two urban areas in Norway over the years from 1997 to 2011. We find a significant depressing effect of the share of low‐earners in the neighbourhood on individual earnings in the capital region ‐ Oslo. Our estimates of the impact of neighbourhood poverty are small in magnitude compared to what is found in other studies. In the other, less central area studied, we do not find any such effect. It is tempting to speculate that sorting and neighbourhood effects are less intense in urban regions with a smaller menu of neighbourhood choices. [Correction added on 30 July 2019, after first publication: The Abstract has been modified for improvement in this version.]

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