|This centre is a member of The LSE Research Laboratory [RLAB]: CASE | CVER | CEP | SERC | STICERD||Cookies?|
Paper No' SERCDP0087: | Full paper
Save Reference as: BibTeX File | EndNote Import File
Keywords: Property prices; stadium impact
JEL Classification: R53; R58
Is hard copy/paper copy available? YES - Paper Copy Still In Print.
This Paper is published under the following series: SERC Discussion Papers
Share this page: Google Bookmarks | Facebook | Twitter
Abstract:Prestigious sports facilities increasingly feature among the most expensive development projects worldwide. Considerable public funds are often committed based on expected neighbourhood effects. This paper focuses on the channels through which stadium externalities capitalize into property prices. We investigate two of the largest stadium investment projects of the recent decade – the New Wembley and the Emirates stadium in London, UK. Evidence suggests positive stadium externalities, which are large compared to construction costs. Notable anticipation effects are found immediately following the announcement of the final stadium plans. Our results suggest that stadium architecture may play an important role in promoting positive spillovers to the neighbourhood.
Copyright © RLAB & LSE 2003 - 2015 | LSE, Houghton Street, London WC2A 2AE | Contact: RLAB | Site updated 30 May 2015