Heibrink, Twan (2021) The association between fear of crime and residential property values in the Netherlands. Master thesis.
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Final MT - Twan Heibrink - S3221679.pdf Download (775kB) | Preview |
Abstract
Multiple studies in the US and UK have shown that crime has a negative effect on residential property values. This study advances in this area by adding a focus on the association between fear of crime and property values next to the effect of actual crime rates on property values, as crime and fear of crime are not necessarily correlated. A hedonic pricing model is used to research the association between fear of crime and self-reported transaction prices in the Netherlands. Like in the US and the UK, crime is associated with lower residential property values (N = 15.429) in the Netherlands. The results show that higher levels of fear are generally associated with lower transaction prices, but this depends on the degree of urbanisation. The negative association between fear of crime and self-reported transaction prices, after controlling for actual crime rates, is stronger at higher degrees of urbanisation. Additional findings show that a higher household income decreases the association between fear of crime and transaction prices, but only at the highest level of fear. Also, the associations of crime and fear of crime with transaction prices are stronger in areas with a relatively low crime rate. This suggests that people get used to crime at some point, which decreases the negative association if crime increases further when crime rates are already high. This study provides further insights into how people value both objective and subjective safety and, importantly, if they are willing to pay for a higher perception of safety.
| Item Type: | Thesis (Master) |
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| Degree programme: | Real Estate Studies |
| Supervisor: | Daams, M.N. |
| Date Deposited: | 16 Aug 2021 13:46 |
| Last Modified: | 16 Aug 2021 13:46 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/3576 |
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