Retail Development Externalities for Housing Values

Kurvinen, Antti; Wiley, Jon

doi:10.1080/10835547.2019.12092155

Cited by 7 publications

(10 citation statements)

References 29 publications

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“…Pope and Pope (2015) estimated the effect of the establishment of a Walmart location to be about 2-3% within a distance of 800 metres and then to decrease to about 1-2% in the interval 800-1,600 metres. This means that their results are slightly higher than both our results and Kurvinen and Wiley's (2019) results.…”

Section: Regression Resultscontrasting

confidence: 86%

“…As before, the degree of explanation is high, and all coefficient estimates are at the same level as previous models. The results presented in model A3 can be compared relatively easily with the results of Kurvinen and Wiley (2019). Within 400 metres of a shopping mall, the capitalisation effect is estimated at 1.6%, which can be compared to 1.5% within a 500-metre radius in Helsinki.…”

Section: Regression Resultsmentioning

confidence: 98%

“…Researchers have found both positive and negative effects of proximity to a shopping mall (see, e.g. Colwell et al, 1985;Sirpar, 1994;Des Rosiers et al, 1996;Pope and Pope, 2015;Zhang et al, 2018;Kurvinen and Wiley, 2019).…”

Section: Introductionmentioning

confidence: 99%

“…Two more recent articles include Zhang et al (2019) and Kurvinen and Wiley (2019). Zhang et al (2019) analyse the capitalisation rate of shopping malls in property values in Hangzhou, China, between the period 2011-2015.…”

Section: Introductionmentioning

confidence: 99%

“…They find that there is a substantial effect after a shopping mall opens, but the effect is minimal before opening. In a recently published article by Kurvinen and Wiley (2019), they analyse the impact of a newly established retail development on housing values. By analysing 130,000 observations over 15 years in Helsinki, Finland, they find that the establishment has a relatively local effect within a radius of 500 metres and that the effect decreases at a radius of 500-1,000 metres.…”

Section: Introductionmentioning

confidence: 99%

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Impacts of shopping malls on apartment prices: the case of Stockholm

Wilhelmsson

Long

2020

NJSR

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Shopping malls, as an important type of commercial facilities, are growing dramatically. They have gradually become one of the most dominant factors that can influence people's daily life as well as a city's economic development. People's willingness to pay for dwellings is also primarily associated with the surrounding commercial layout. Hence, it is of interest to find out more from a quantitative perspective on the relationship between shopping malls and housing prices. This study aims to analyze how the prices of condominiums will be affected by the proximity of shopping malls. Two aspects are considered and examined in the empirical study, namely a proximity to the shopping mall, and the number of shopping malls within 3 kilometers radius. We try to examine if there is any price premium for those apartments near the shopping mall or with more shopping malls in the neighborhood. In this empirical study, 36 shopping malls in different locations in the county of Stockholm, Sweden, is utilized. The sample of transactions consists of 336,914 apartments. By using regression analysis, based on the traditional hedonic model, the results show that there is an inverse relationship between the apartment prices and its distance from the shopping mall while the number of shopping malls is positively correlated with apartment prices. However, the impact has declined over time.

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Section: Regression Resultscontrasting

confidence: 86%

Section: Regression Resultsmentioning

confidence: 98%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Impacts of shopping malls on apartment prices: the case of Stockholm

Wilhelmsson

Long

2020

NJSR

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Identifying the effect of retail brands on private residential rental prices in Great Britain

Clark

Hood

Birkin

2021

J Hous and the Built Environ

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This study extends our understanding of the influence of proximity to retail grocery provision on housing rental prices. To achieve this, extensive data on the size and location of retail outlets are combined with neighbourhood rental values for small areas across a two year period, together with varied contextual data for each area. In order to control the influence of many confounding variables in the determination of housing rentals, the technique of propensity score matching is applied. This provides a sophisticated means for the comparison between areas where there is substantial natural variation, rather than manageable controls. For a variety of types of retail brands, only a significant relationship is found between the proximity of a Premium retail outlet and the housing rental value. The findings of this research allow local planning officers to further understand the impact of planning applications on the potential for gentrification and the affordability of neighbouring housing.

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