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Keep One's Eyes on the Ball: The Impact of Sport Arena on Housing Price

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  • Campos, Rodger

    (Departamento de Economia, Universidade de São Paulo)

Abstract

Urban planning regulates cultural and sports mega-projects in cities and requires detailed planification for their surroundings. However, regulation is not enough to mitigate negative externalities or maximize positive ones arising from these projects. Using hedonic prices approach and difference-in-difference method, I investigate the impact of net effect of externalities on housing price surrounding sport stadium following its inauguration. The estimates suggest apartment prices decreasing by 8% and 45%, depending on the econometric specification used and on distance from source of the externalities. These findings contribute to the literature on the impact of mega-projects on housing prices literature and inform discussion about urban planning and regulation.

Suggested Citation

  • Campos, Rodger, 2024. "Keep One's Eyes on the Ball: The Impact of Sport Arena on Housing Price," TD NEREUS 11-2024, Núcleo de Economia Regional e Urbana da Universidade de São Paulo (NEREUS).
    • Handle: RePEc:ris:nereus:2024_011
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    More about this item

    Keywords

    Housing Price; Urban planning;

    JEL classification:

    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General

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