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Spatial effects of urban public policies on housing values

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  • Catherine Baumont

Abstract

Problems of spatial segregation have often stressed on the social status and social capital of a neighbourhood as main driving forces behind housing price formation. In this paper, it is assumed that spatial effects are additional variables worth considering since the impact of urban policies such as social housing policies and urban regeneration policies may permeate outside the areas where they are implemented. Our case study is of the urban area of Dijon (France), where these two types of urban policies have been implemented in the last three decades. Spatial effects are introduced in the hedonic model and a spatial error model is estimated, revealing a positive and significant global spatial effect combined with the usual influence of accessibility to the CBD. We also show the negative influence of location in social housing districts and the spatial diffusion effect they exert on neighbouring districts. Resumen Los problemas de segregación espacial han resaltado a menudo el estatus social y el capital social de un vecindario como la fuerza motriz principal del establecimiento de precios de la vivienda. En este artículo se asume que los efectos espaciales son variables adicionales que merece la pena considerar ya que el impacto de políticas urbanas, tales como políticas de la vivienda y de regeneración urbana, podrían extenderse fuera de las áreas en que son implementadas. Nuestro estudio de caso es el área urbana de Dijon (Francia), donde estos dos tipos de políticas urbanas se han venido implementando en las últimas tres décadas. Se introducen efectos espaciales en el modelo hedónico y se estima un modelo de error espacial, que muestra un efecto espacial global positivo significativo junto con la influencia habitual de accesibilidad al distrito central de negocios (CBD, por sus siglas en inglés). Mostramos también la influencia negativa de la ubicación de distritos de viviendas sociales y del efecto de difusión espacial que ejercen sobre los distritos vecinos.

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  • Catherine Baumont, 2009. "Spatial effects of urban public policies on housing values," Papers in Regional Science, Wiley Blackwell, vol. 88(2), pages 301-326, June.
    • Handle: RePEc:bla:presci:v:88:y:2009:i:2:p:301-326
    DOI: 10.1111/j.1435-5957.2008.00200.x
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    8. Bouzouina, Louafi & Baraklianos, Ioannis & Bonnel, Patrick & Aissaoui, Hind, 2021. "Renters vs owners: The impact of accessibility on residential location choice. Evidence from Lyon urban area, France (1999–2013)," Transport Policy, Elsevier, vol. 109(C), pages 72-84.
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    10. Suparmono, 2012. "Accessibility to center business district and land price," Economic Journal of Emerging Markets, Universitas Islam Indonesia, vol. 4(2), pages 143-152, April.
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    13. Aarland, Kristin & Osland, Liv & Gjestland, Arnstein, 2017. "Do area-based intervention programs affect house prices? A quasi-experimental approach," Journal of Housing Economics, Elsevier, vol. 37(C), pages 67-83.
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    16. Jeanne Dachary-Bernard & Frédéric Gaschet & Sandrine Lyser & Guillaume Pouyanne & Stéphane Virol, 2011. "L'impact de la littoralisation sur les marchés fonciers : une approche comparative des côtes basque et charentaise," Post-Print hal-00688634, HAL.
    17. Stéphane Virol & Guillaume Pouyanne & Sandrine Lyser & Frédéric Gaschet & Jeanne Dachary-Bernard, 2011. "L’impact de la littoralisation sur les marchés fonciers. Une approche comparative des côtes basque et charentaise," Économie et Statistique, Programme National Persée, vol. 444(1), pages 127-154.

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