Publikasjonsdetaljer

År
2010
Forfattere
Ahlfeldt, G.M.
Maennig, W.
Institusjon
LSE
Publisert i/av
Real Estate Economics
Nr
38 (2). pp. 285-323
Land
Tyskland
Type
Vitenskapelig artikkel
Nøkkelord
Kulturarv, Byplanlegging, Storbyer, Samfunnsøkonomi, Cultural heritage
Abstrakt / Utdrag

This article analyzes the impact of designated landmarks on condominium transaction prices in Berlin, Germany. We test for price differentials between listed and nonlisted properties and study their impact on surrounding property prices. The proximity to built heritage is captured by the distance to listed houses and heritage potentiality indicators. Impact is assessed by applying a hedonic model to microlevel data, and this process also addresses spatial dependency. While our findings suggest that designated landmarks do not sell at a premium or discount, landmarks are found to have positive external effects on surrounding property prices within a distance of approximately 600 m.