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NIMBYs for the rich and YIMBYs for the poor: Analyzing the property price effects of infill development
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management, Building and Real Estate Economics.
KTH, School of Architecture and the Built Environment (ABE), Centres, Centre for Banking and Finance, Cefin.ORCID iD: 0000-0001-7106-4827
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management, Building and Real Estate Economics.ORCID iD: 0000-0003-4849-0726
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management, Building and Real Estate Economics. KTH, School of Architecture and the Built Environment (ABE), Centres, Centre for Banking and Finance, Cefin.ORCID iD: 0000-0002-9944-0510
2016 (English)Report (Other academic)
Abstract [en]

A combination of strong urbanization and shortage of land in many European city areas prompts an impetus of infill development, with current residents often raising concerns that infill development leads to lower nearby property prices. The aim of this paper is to analyze how nearby property prices are affected by new construction projects in Stockholm, Sweden. We use a difference-in-difference specification in a hedonic model, and our sample consists of more than 40,000 observations over the period 2005–2013. Our results are robust and indicate that house prices in nearby areas increase following the completion of infill development. Our results also indicate that infill development only has a positive spillover effect on nearby house prices only in areas with lower incomes, more public housing units and more inhabitants born abroad.

Place, publisher, year, edition, pages
Stockholm: KTH Royal Institute of Technology, 2016. , 41 p.
Series
Working Paper Series, Department of Real Estate and Construction Management & Centre for Banking and Finance (cefin), KTH, 16:2
Keyword [en]
Residential construction, Infill development, NIMBY, YIMBY
National Category
Economics and Business
Research subject
Real Estate and Construction Management
Identifiers
URN: urn:nbn:se:kth:diva-182638OAI: oai:DiVA.org:kth-182638DiVA: diva2:905214
Note

QC 20160225

Available from: 2016-02-22 Created: 2016-02-22 Last updated: 2016-02-25Bibliographically approved

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Working paper(923 kB)308 downloads
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File name FULLTEXT01.pdfFile size 923 kBChecksum SHA-512
7ac9561757d6a9429daef3914cb4bff3f56f1478c31f12ae1f06296b327f58af2e9bec2faded576e49200d2c7a730ef3015bd181e6eefd284e124f066d17521a
Type fulltextMimetype application/pdf

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Hermansson, CeciliaSong, Han-Suck

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CiteExportLink to record
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Citation style
  • apa
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