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Is There a Diminishing Value of Urban Amenities as a Result of the COVID-19 Pandemic?

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  • van Vuuren, Aico

    (University of Groningen)

Abstract

We investigate whether the COVID-19 pandemic decreased the willingness to pay for urban amenities such as restaurants, cinemas and theaters. We do this by using a hedonic pricing model in combination with a time-gradient difference-in-difference approach. We use a data set that contains virtually all apartments for sale in the larger Stockholm area. We use a very detailed and flexible definition of density of urban amenities based on the exact location of these amenities and the walking distance from the apartments to these amenities. We find a decrease of 1.9 percent of apartments that we label as amenity rich.

Suggested Citation

  • van Vuuren, Aico, 2022. "Is There a Diminishing Value of Urban Amenities as a Result of the COVID-19 Pandemic?," IZA Discussion Papers 15025, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp15025
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    More about this item

    Keywords

    COVID-19; urban economics; amenities;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General

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