Resource title

Form or Function? The impact of new football stadia on property prices in London

Resource image

image for OpenScout resource :: Form or Function? The impact of new football stadia on property prices in London

Resource description

Prestigious sports facilities increasingly feature among the most expensive development projects worldwide. Considerable public funds are often committed based on expected neighbourhood effects. This paper focuses on the channels through which stadium externalities capitalize into property prices. We investigate two of the largest stadium investment projects of the recent decade - the New Wembley and the Emirates stadium in London, UK. Evidence suggests positive stadium externalities, which are large compared to construction costs. Notable anticipation effects are found immediately following the announcement of the final stadium plans. Our results suggest that stadium architecture may play an important role in promoting positive spillovers to the neighbourhood.

Resource author

Resource publisher

Resource publish date

Resource language

en

Resource content type

Resource resource URL

http://eprints.lse.ac.uk/41962/

Resource license