Lustenhouwer, Y. (2018) Anticipation Effects of Infrastructural Redevelopments on the Owner-Occupier Housing market. Master thesis.
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Abstract
This paper aims to research anticipation effects regarding the owner-occupier housing market in the vicinity of an infrastructural redevelopment project. By means of a difference-in-difference hedonic pricing model, transaction prices are regressed on indicators which define the announcement and start of the redevelopment, comparing houses near and farther from the redevelopment project, controlling for a variety of housing and neighborhood characteristics and for time and space. The results of the quantitative analyses show a relative decrease in house prices close to the redevelopment and imply a(n) (anticipated) decrease of area quality during the redevelopment process. A qualitative analysis on the application of the quantitative findings in policy- and decision-making, indicate that external effects and anticipation effects are seldom addressed in public financial analyses, due to the common difference between the reach of the external effects and the scope of a project and the different (social) responsibilities of a municipality.
| Item Type: | Thesis (Master) |
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| Degree programme: | Real Estate Studies |
| Supervisor: | Duijn, M. van |
| Date Deposited: | 23 Apr 2020 05:25 |
| Last Modified: | 23 Apr 2020 05:25 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/1185 |
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