The impact of litigation over infrastructure settings on residential property values in Paris's suburban zones

Hai Vu Pham (), Arnaud Simon () and Andre Torre
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Hai Vu Pham: DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique, SADAPT - Sciences pour l'Action et le Développement : Activités, Produits, Territoires - INRA - Institut National de la Recherche Agronomique - AgroParisTech
Arnaud Simon: DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique, SADAPT - Sciences pour l'Action et le Développement : Activités, Produits, Territoires - INRA - Institut National de la Recherche Agronomique - AgroParisTech

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Abstract: The presence of nearby public facilities contributes to real estate values; that is why the market may expect public projects to affect house prices. But undesirable and semi-desirable facility location choices can be contested by close inhabitants, because they are source of negative externalities or negative expectations. In Paris' suburban zones, the opposition to these infrastructures is frequent, and the announcement of an official project does not automatically mean its implementation. Through three case studies, we explore the way the expectation mechanism is affected by legal conflicts driven by close inhabitants. We suppose that expectations depend on the to-be-realized-chance of the project. As conflicts amplify or reduce the certainty of the new facility's arrival, market perceptions of the infrastructure vary. The variation is captured by our hedonic model.

Keywords: house prices; facility setting conflict; market's expectation (search for similar items in EconPapers)
Date: 2010-06-24
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Published in ERES 2010, Jun 2010, Milan, Italy

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00551307

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