The external effects of inner‐city shopping centers: Evidence from the Netherlands

Song Zhang, Mark van Duijn () and Arno J. van der Vlist

Journal of Regional Science, 2020, vol. 60, issue 4, 583-611

Abstract: Shopping center redevelopment is inevitable to remain attractive for consumers. In this paper, we investigate the external effects of shopping center redevelopment on nearby residential property prices. Using a difference‐in‐difference empirical framework, we find the redevelopment has positive external effects on nearby property prices. We find the price of a property located next to a redeveloped shopping center increases by 1.43% on average just after redevelopment. Our results indicate that these positive external effects wear off rather rapidly across space and over time. This suggests that shopping center redevelopment plays a substantial, but limited, role in combating neighborhood deprivation.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:bla:jregsc:v:60:y:2020:i:4:p:583-611

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