Resource title

Monument protection: internal and external price effects

Resource image

image for OpenScout resource :: Monument protection: internal and external price effects

Resource description

This paper analyses the impact of heritage-listed buildings on condominium transaction prices in Berlin, Germany. We use transaction data to test for price differentials between listed and nonlisted properties and to study their impact on surrounding property prices. Proximity to built heritage is captured by distance to listed houses and indicators capturing neighborhoods with built heritage. Impact is assessed by applying a hedonic model to micro-level data and a non-parametric approach to location. While our findings suggest that listed properties do not sell at a premium or discount, heritage- listed buildings are found to have positive external effects on surrounding property prices.

Resource author

Gabriel M. Ahlfeldt, Wolfgang Maennig

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/25361

Resource license

Adapt according to the presented license agreement and reference the original author.