Jonker, Tom (2019) Large Redevelopment Initiatives: The effect of redeveloping office stock into housing on surrounding house prices in an urban setting. A case study in the city of Amsterdam, the Netherlands. Master thesis.
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Abstract
This thesis wants to find what effects the redevelopment of office stock into housing has on surrounding house prices. A hedonic price model was used in order to find the external effects of the redevelopment on three different time periods. The results show that before the redevelopment started the office buildings, which are often in a vacant state, are a disamenity to their surroundings, which resulted in lower house prices (-1.6%). Between the start and the end of the construction period house prices rise due to anticipation effects, in which homeowners are willing to pay a price premium based on future expectations (1.1%). At last, after the realization of the redevelopment projects house prices continue to rise due to the increased attractiveness of the neighborhood (1.6%). This thesis stresses the fact that through the redevelopment of the current stock of offices into housing positive externalities arise for the surrounding neighborhood.
| Item Type: | Thesis (Master) |
|---|---|
| Degree programme: | Real Estate Studies |
| Supervisor: | Liu, X |
| Date Deposited: | 23 Apr 2020 05:18 |
| Last Modified: | 23 Apr 2020 05:18 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/616 |
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