Modern and Classical Architecture – Aspects of Value: The case of Stockholm, Sweden

Mats Wilhelmsson and Piotr Dabrowski

ERES from European Real Estate Society (ERES)

Abstract: This study examines the price impact of neotraditional architecture in Stockholm's multifamily housing market, employing hedonic pricing models, spatial econometrics, and propensity score matching to ensure robust analysis. The findings indicate that apartments in buildings with classical architectural styles command a price premium of 5% to 6%, with spatial models confirming this effect. However, the premium is more pronounced in lower-price segments, suggesting a nuanced demand for architectural heritage. The study underscores the importance of addressing spatial dependencies in real estate valuation and contributes to the literature by exploring the economic appeal of neotraditional designs in contemporary urban settings. Methodological limitations, such as geographic specificity and reliance on observational data, highlight the need for future research to assess the generalisability of these findings in diverse markets and longitudinal contexts. These insights offer practical implications for urban planners and developers to balance architectural diversity with market dynamics.

Keywords: arctectual style; Construction; Hedonic; Housing Prices (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2025-01-01
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