%D 2018
%T The Redevelopment of Vacant Railway Heritage and the External Effect on House Prices
%L theses_frw3067
%A S. L. Procé
%X Roughly one fourth of all railway stations in The Netherlands is considered to be cultural heritage. Due to a loss of many traditional railway related functions, a lot of space within these stations became vacant over time. This thesis contains an empirical analysis, to explore the external effects of the redevelopment of vacant railway heritage, by analyzing surrounding house prices. With a hedonic regression and a difference-in-differences approach, the external effects of fourteen redevelopment projects of railway heritage are analyzed. Results show that before redevelopment, railway heritage buildings were considered as a disamenity for the surrounding area. This effect disappeared after redevelopment started, indicating anticipation effects. After redevelopment, the railway heritage buildings seem to have a positive external effect on surrounding house prices.