Impacts of shopping malls on apartment prices: The case of Stockholm
Runfeng Long () and
Mats Wilhelmsson ()
Additional contact information
Runfeng Long: Department of Real Estate and Construction Management, Royal Institute of Technology, Postal: Division of Real Estate Economics and Finance, Teknikringen 10B, 100 44 Stockholm, Sweden
No 20/7, Working Paper Series from Royal Institute of Technology, Department of Real Estate and Construction Management & Banking and Finance
Shopping malls, as an important type of commercial facilities, are growing dramatically. They have gradually become one of the most dominant factors that can influence people's daily life as well as a city's economic development. People's willingness to pay for dwellings is also primarily associated with the surrounding commercial layout. Hence, it is of interest to find out more from a quantitative perspective on the relationship between shopping malls and housing prices. This study aims to analyze how the prices of condominiums will be affected by the proximity of shopping malls. Two aspects are considered and examined in the empirical study, namely a proximity to the shopping mall, and the number of shopping malls within 3 kilometers radius. We try to examine if there is any price premium for those apartments near the shopping mall or with more shopping malls in the neighborhood. In this empirical study, 36 shopping malls in different locations in the county of Stockholm, Sweden, is utilized. The sample of transactions consists of 336,914 apartments. By using regression analysis, based on the traditional hedonic model, the results show that there is an inverse relationship between the apartment prices and its distance from the shopping mall while the number of shopping malls is positively correlated with apartment prices. However, the impact has declined over time.
Keywords: hedonic; spillover effect; shopping mall (search for similar items in EconPapers)
JEL-codes: R21 R23 R31 (search for similar items in EconPapers)
Pages: 20 pages
New Economics Papers: this item is included in nep-ure
References: Add references at CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed
Downloads: (external link)
http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-274926 Full text (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:hhs:kthrec:2020_007
Ordering information: This working paper can be ordered from
Access Statistics for this paper
More papers in Working Paper Series from Royal Institute of Technology, Department of Real Estate and Construction Management & Banking and Finance Department of Real Estate and Construction Management, Royal Institute of Technology, Teknikringen 10B, 100 44 Stockholm, Sweden. Contact information at EDIRC.
Bibliographic data for series maintained by Cecilia Hermansson ().