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- Brunes, Fredrik, et al.
(författare)
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NIMBYs for the rich and YIMBYs for the poor : analyzing the property price effects of infill development
- 2020
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Ingår i: Journal of European Real Estate Research. - : EMERALD GROUP PUBLISHING LTD. - 1753-9269 .- 1753-9277. ; 13:1, s. 55-81
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Tidskriftsartikel (refereegranskat)abstract
- Purpose This paper aims to analyze how nearby property prices are affected by new construction projects in Stockholm. If there is an impact on property prices, the authors endeavor to investigate whether the effects vary among different areas within the municipality, for different groups of inhabitants and for different types of housing (i.e. public versus private housing). Design/methodology/approach The authors use a difference-in-difference specification in a hedonic model, and the sample consists of more than 90,000 observations over the period 2005-2013. Findings The results are robust and indicate that house prices in nearby areas increase following the completion of infill development. The results also indicate that infill development has a positive spillover effect on nearby dwelling prices only in areas with lower incomes, more public housing units and more inhabitants born abroad. Originality/value It provides an analysis on how nearby property prices are affected by new construction projects by creating a restricted control area, so as to make the treatment group and the control group more homogeneous. Thus, it mitigates any potential problems with spatial dependency, which can cause biased standard errors.
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| 2. |
- Brunes, Fredrik, et al.
(författare)
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NIMBYs for the rich and YIMBYs for the poor: Analyzing the property price effects of infill development
- 2016
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- A combination of strong urbanization and shortage of land in many European city areas prompts an impetus of infill development, with current residents often raising concerns that infill development leads to lower nearby property prices. The aim of this paper is to analyze how nearby property prices are affected by new construction projects in Stockholm, Sweden. We use a difference-in-difference specification in a hedonic model, and our sample consists of more than 40,000 observations over the period 2005–2013. Our results are robust and indicate that house prices in nearby areas increase following the completion of infill development. Our results also indicate that infill development only has a positive spillover effect on nearby house prices only in areas with lower incomes, more public housing units and more inhabitants born abroad.
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