Bieze, Gijs (2021) Stadium development in the Netherlands: the effect on surrounding house prices. Master thesis.
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Abstract
The Netherlands has experienced a wave in new stadium development after the mid-nineties until the financial crisis. From then onwards, ambitions or plans for new development have been not progressing. Most of the time, a substantial amount of money is needed from the municipality to finance the new stadium. Policymakers search to deal with the risks regarding the development of new stadiums in the Netherlands and the associated public investments. This study investigates whether those public investments are legitimate, by assessing the effect of 19 new stadiums in the Netherlands on surrounding house prices. Hedonic models in combination with a difference in difference methodology are used to compare house prices in the target area with the control area before the start of development, between the start and end of development, and after the completion of a new stadium development. We find fairly local negative house price effects between the start and end of development of new stadiums. We find that these negative house price effects disappear after the completion of new stadiums and are replaced by positive house price effects up to 1,000 meters, implying an increase in the attractiveness of the neighborhood. However, the result are largely driven by the type of stadium development. Therefore, our analysis shows that large public investments made by municipalities into new stadiums have at least partial support, depending on the type of stadium development.
| Item Type: | Thesis (Master) |
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| Degree programme: | Real Estate Studies |
| Supervisor: | Nozeman, E.F. and Daams, M.N. |
| Date Deposited: | 06 Sep 2021 11:29 |
| Last Modified: | 06 Sep 2021 11:29 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/3713 |
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