Keep One's Eyes on the Ball: The Impact of Sport Arena on Housing Price

Rodger Campos ()
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Rodger Campos: Departamento de Economia, Universidade de São Paulo

No 11-2024, TD NEREUS from Núcleo de Economia Regional e Urbana da Universidade de São Paulo (NEREUS)

Abstract: Urban planning regulates cultural and sports mega-projects in cities and requires detailed planification for their surroundings. However, regulation is not enough to mitigate negative externalities or maximize positive ones arising from these projects. Using hedonic prices approach and difference-in-difference method, I investigate the impact of net effect of externalities on housing price surrounding sport stadium following its inauguration. The estimates suggest apartment prices decreasing by 8% and 45%, depending on the econometric specification used and on distance from source of the externalities. These findings contribute to the literature on the impact of mega-projects on housing prices literature and inform discussion about urban planning and regulation.

Keywords: Housing Price; Urban planning (search for similar items in EconPapers)
JEL-codes: R10 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2024-10-01
New Economics Papers: this item is included in nep-mac, nep-spo and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:ris:nereus:2024_011

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