eprintid: 3532
rev_number: 6
eprint_status: archive
userid: 1
dir: disk0/00/00/35/32
datestamp: 2021-07-20 07:18:51
lastmod: 2021-07-20 07:18:51
status_changed: 2021-07-20 07:18:51
type: thesis
metadata_visibility: show
sword_depositor: 1
creators_name: Janssen, Max
creators_id: S3936236
creators_email: m.janssen.8@student.rug.nl
title: QUANTITATIVE APPROACH ON THE ASSOCIATION OF PUB DENSITY WITH LOCAL PROPERTY PRICES
ispublished: unpub
full_text_status: public
abstract: Pubs play an important within Britain’s urban communities, contributing to cohesion and social life for ages. Since the pub used to have attractive power for local inhabitants, this study investigates whether premiums in property prices can be observed when being attached with higher pub densities in proximities. Given the fact that London suffered a severe pub loss from 2001 to 2017, residential property prices within this timeframe are used over 32 boroughs. Panel data is used to conduct fixed effects and semi-parametric estimation techniques allowing for linear as well as non-linear relationships between pub densities and local property prices. The results show that after controlling for unobserved heterogeneity, an increase in pub density is gifted with increasing property prices up until two pubs per square kilometer. Hereafter, increasing pub densities show a declining relationship with residential property prices. Those findings suggest an overrepresentation of negative externalities wedded to higher pub densities. Existing literature highlights the effect of pubs for surrounded areas in terms of noise, crime and disturbing behavior, but is not able to monetize such effects. This study intuitively gives some insides to what extent the presence of a pub can be considered as an amenity, reflected in local property prices.
date: 2021
pages: 44
thesis_type: master
degree_programme: VG
tutors_name: Duijn, M. van
tutors_name: Liu, X.
tutors_organization: Fac. Ruimtelijke wetenschappen, Basiseenheid Economische Geografie
tutors_organization: Fac. Ruimtelijke wetenschappen, Basiseenheid Economische Geografie
tutors_email: Mark.van.Duijn@rug.nl
tutors_email: Xiaolong.Liu@rug.nl
security: validuser
keywords_local: Pubs
keywords_local: Residential Property Prices
keywords_local: London Housing Market
keywords_local: Amenities
keywords_local: Local Preferences
keywords_local: Panel Data
keywords_local: Urban Landscape
language_iso: en
agreed_repository: yes
date_issued: 2021-07-07
citation:   Janssen, Max  (2021) QUANTITATIVE APPROACH ON THE ASSOCIATION OF PUB DENSITY WITH LOCAL PROPERTY PRICES.  Master thesis.   
document_url: https://frw.studenttheses.ub.rug.nl/3532/1/Final%20Master%20Thesis%20Max%20Janssen%20%28S3936236%29%20.pdf