The Impact of Sports Arenas on Land Values: Evidence from Berlin

Gabriel Martins Ahlfeldt and Wolfgang Maennig ()

No 3, Working Papers from Chair for Economic Policy, University of Hamburg

Abstract: This paper develops a hedonic price model explaining standard land values in Berlin. The model assesses the impact of three multifunc-tional sports arenas situated in Berlin-Prenzlauer Berg which were de-signed to improve the attractiveness of their formerly deprived neighbourhoods. Empirical results confirm expectations about the impact of various attributes on land values. Sports arenas have significant positive impacts within a radius of about 3000 meters. The patterns of impact vary, in-dicating that the effective impact depends on how planning authorities address potential countervailing negative externalities.

Keywords: Stadium Impact; Land Gradient; Hedonic Regression; Spatial Auto-correlation; Berlin (search for similar items in EconPapers)
JEL-codes: R31 R53 R5 (search for similar items in EconPapers)
Date: 2007-04
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Published in Hamburg Contemporary Economic Discussions, Issue 03, 2007

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http://www.hced.uni-hamburg.de/WorkingPapers/200703.pdf First version, 2007 (application/pdf)

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Persistent link: http://EconPapers.repec.org/RePEc:hce:wpaper:003

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