Historic Amenities and Housing Externalities: Evidence from the Netherlands

Hans Koster and Jan Rouwendal

Economic Journal, 2017, vol. 127, issue 605, F396-F420

Abstract: We study the economic effects of public investments in historic amenities by looking at their impact on house prices. We distinguish between direct and indirect effects of investments. A nationwide housing transaction is used as well as data on investments in cultural heritage. A 1 million euro per square kilometre increase in investments in cultural heritage leads to a price increase of 1.5–3.0% of non‐targeted buildings. We do not find evidence that the maintenance state of non‐eligible properties is improved, suggesting that any price effect due to investments in cultural heritage is a direct effect of investments.

Date: 2017
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https://doi.org/10.1111/ecoj.12477

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Working Paper: Historic Amenities and Housing Externalities: Evidence from The Netherlands (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:wly:econjl:v:127:y:2017:i:605:p:f396-f420

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