Bakker, Robert (2021) Does the development of industrial sites influence the price of residential properties? Master thesis.
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Abstract
Since 2008, industrial property prices have risen, and construction has increased. Combined with the high and still increasing density in the Netherlands, this leads to industrial properties to be located closer to residential areas than would be preferred. Therefore, I estimate the effects of the new development of these industrial sites on prices of existing houses in the vicinity. To do this, I use a hedonic pricing model, combined with a difference-in-difference approach, and I control for property characteristics, location characteristics, transaction characteristics and characteristics of the industrial sites. I find that, in contrary to expectations due to existing studies on industrial sites in the Netherlands, the development of these new industrial sites has a significant positive effect on nearby house prices. This would suggest that the planning policies of the Dutch municipalities ensure that no negative externalities arise and that new industrial sites which increase economic activity may increase house prices.
| Item Type: | Thesis (Master) |
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| Degree programme: | Real Estate Studies |
| Supervisor: | Vlist, A.J. van der |
| Date Deposited: | 01 Sep 2021 09:38 |
| Last Modified: | 01 Sep 2021 09:38 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/3700 |
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