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The value of culture to urban housing markets

Author

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  • Riccardo Borgoni
  • Alessandra Michelangeli
  • Nicola Pontarollo

Abstract

Cultural amenities are the expression of a cultural environment, given by a combination of aesthetic factors, styles, rhythms and behaviours, which contribute to make a neighbourhood vibrant and more enjoyable. Following the hedonic approach, we propose an empirical strategy to capture the multiple effects of cultural amenities, as well as the effects produced by green areas, public transport and university proximity. The results are used to determine whether cultural amenities are optimally provided by the municipality of Milan, Italy. It emerged that investments in culture generate positive effects to society, and that governments should devote far more resources to culture.

Suggested Citation

  • Riccardo Borgoni & Alessandra Michelangeli & Nicola Pontarollo, 2018. "The value of culture to urban housing markets," Regional Studies, Taylor & Francis Journals, vol. 52(12), pages 1672-1683, December.
    • Handle: RePEc:taf:regstd:v:52:y:2018:i:12:p:1672-1683
    DOI: 10.1080/00343404.2018.1444271
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    Citations

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    Cited by:

    1. Katarzyna Kopczewska & Mateusz Kopyt & Piotr Ćwiakowski, 2021. "Spatial Interactions in Business and Housing Location Models," Land, MDPI, vol. 10(12), pages 1-25, December.
    2. Karima KOURTIT, 2019. "Cultural heritage, smart cities and digital data analytics," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 10, pages 151-159, June.
    3. Adrian-Gheorghe Florea & Diana-Cristina Sava & Olivia Andreea Marcu, 2022. "Testing the Catalysts of the Romanian Creative Economy—A Panel Data Analysis Approach," Sustainability, MDPI, vol. 14(21), pages 1-18, November.
    4. Diana – Cristina SAVA & Ioana ME?TER, 2019. "The Catalysts Of The Creative Economy In Romania: An Empirical Analysis," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 13(1), pages 50-64, November.
    5. David M. Brasington, 2022. "Local economic growth and local government investment in parks and recreation, or five cheese pizzas for $2.6 million," Journal of Regional Science, Wiley Blackwell, vol. 62(1), pages 81-95, January.
    6. Riccardo Novaro & Massimiliano Piacenza & Gilberto Turati, 2022. "Does money laundering inflate residential house prices? Evidence from the Italian provincial markets," Kyklos, Wiley Blackwell, vol. 75(4), pages 672-691, November.
    7. Pontarollo, Nicola & Serpieri, Carolina, 2020. "Testing the Environmental Kuznets Curve hypothesis on land use: The case of Romania," Land Use Policy, Elsevier, vol. 97(C).

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