The Price Premium Of Heritage In The Housing Market
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The Price Premium Of Heritage In The Housing Market
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Author : David Bade
language : en
Publisher:
Release Date : 2019
The Price Premium Of Heritage In The Housing Market written by David Bade and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Heritage is one of many urban features that shape the form and identity of any city. City regulations that protect heritage can have two contradicting effects: preserve property value on depress real state market, and; generate opportunity costs for homebuyers who renounce to future development opportunities. In this paper we evaluate the extent to which heritage protection strategies affect the housing market. We analyze heritage effects in a market that faces high demand pressure and important institutional shocks; Auckland, New Zealand. After controlling for a large number of factors, and spatial effects, we find a significant negative price penalty of around -10% for houses located within heritage areas, on average between years 2006-2016. Yet, we also identify an external and local price premium, related to the number of heritage sites around the house. This density effect is of about 1.7% for an additional site in a radius of 50 meters around the house, and decreases as the radius under analysis expands. We also find a price premium for a house located on a different heritage protection strategy, Special Character Areas, for which the effect is positive and reaches 4.3%. Reported effects are robust to several specifications but are highly dependent on time dynamics.
Does The Housing Market Value Heritage
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Author : Vinita Deodhar
language : en
Publisher:
Release Date : 2004
Does The Housing Market Value Heritage written by Vinita Deodhar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Cultural property categories.
The Economics Of The Modernisation Of Direct Real Estate And The National Estate A Singapore Perspective
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Author : Kim Hin David HO
language : en
Publisher: Partridge Publishing Singapore
Release Date : 2022-05-11
The Economics Of The Modernisation Of Direct Real Estate And The National Estate A Singapore Perspective written by Kim Hin David HO and has been published by Partridge Publishing Singapore this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-05-11 with Business & Economics categories.
The Economics of The Modernisation of Direct Real Estate and The National Estate - A Singapore Perspective Chapter 1 takes a close look the vector auto regression (VAR) model, offering a dynamic system of solely direct real estate variables, for international direct real estate investors and policy makers, to enable their decision-making. Chapter 2 examines the association of residential price and aggregate consumption. A cross-spectra analysis is helps to so validate, because of its model-free characteristics Chapter 3 is concerned with the underlying housing market dynamics and housing price time-series variation, via the Singapore (SG) generalized dynamic factor model (GDFM). Chapter 4 is concerned with the in-depth market analysis and empirical analysis of the structural behavior of the important SG private housing sector. Chapter 5 acknowledges that an in-depth sector analysis and an empirical analysis are imperative to better understand the structural behavior of the SG office sector. Chapter 6 is concerned with the Main Upgrading Programme (MUP), a highly targeted subsidized Housing Development Board (HDB) policy, since the 1990s. Chapter 7 recognizes the ‘National Estate’, denoting SG’s built environment, due to physical planning, integrated urban design, and the direct influence of the SG government in providing physical infrastructure via government ministries, statutory boards and public authorities. Chapter 8 offers the book’s conclusion.
The Effect Of Heritage Area Designation On House Prices
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Author : Christopher Andrew Sharpe
language : en
Publisher:
Release Date : 2000
The Effect Of Heritage Area Designation On House Prices written by Christopher Andrew Sharpe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Architecture categories.
Handbook On The Economics Of Cultural Heritage
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Author : Ilde Rizzo
language : en
Publisher: Edward Elgar Publishing
Release Date : 2013-01-01
Handbook On The Economics Of Cultural Heritage written by Ilde Rizzo and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-01 with Political Science categories.
Cultural heritage is a complex and elusive concept, constantly evolving through time, and combining cultural, aesthetic, symbolic, spiritual, historical and economic values. The Handbook on the Economics of Cultural Heritage outlines the contribution of economics to the design and analysis of cultural heritage policies and to addressing issues related to the conservation, management and enhancement of heritage. The Handbook takes a multidisciplinary approach, using cultural economics as a theoretical framework to illustrate how crucial and stimulating cross-disciplinary dialogue actually is. Contributors scrutinise the co-existence of cultural and economic values as well as the new challenges that arise from changes brought about by technology, and relationships between the different actors engaged in the production, distribution and consumption of heritage services. The roles of public, private and non-profit organizations are also explored. Case studies underpin the discussion, demonstrating the clear and vital link between theory and practice. This highly unique Handbook will prove a fascinating and informative read for academics, researchers, students and policymakers with an interest in cultural economics.
Value In A Changing Built Environment
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Author : David Lorenz
language : en
Publisher: John Wiley & Sons
Release Date : 2017-11-08
Value In A Changing Built Environment written by David Lorenz and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-08 with Business & Economics categories.
A new framework for understanding the underpinnings of real estate property value and the role it plays in the larger economy Value in a Changing Built Environment examines the professional foundations on which the valuation exercise and the valuation profession rest. Written by noted experts in the field, the book addresses the often limited understanding of the concept of property value by explaining the intrinsic linkages between economic, environmental, social, and cultural measures and components of property value. The book offers a framework that paves the way towards a more holistic approach to property value. Value in a Changing Built Environment unwraps many of the traditional assumptions that have underpinned market participants’ decision making over the last few decades. The authors explore the concept that a blindfold application of valuation theories and approaches adopted from finance is unlikely to be able to cope with the nature of property as an economic and public good. This vital resource: Explains the criteria for making estimates of value that can be applied worldwide Offers an integrated approach to property value and the valuation processes Captures the often illusive intangibles such as environmental performance into valuation Addresses a market failure to account for wider criteria on building performance Value in a Changing Built Environment examines how real estate valuation plays a pivotal role in decision making and how can a new body of knowledge improve the practice in both business and social domains.
The Economics Of Uniqueness
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Author : Guido Licciardi
language : en
Publisher: World Bank Publications
Release Date : 2012-10-01
The Economics Of Uniqueness written by Guido Licciardi and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-01 with Business & Economics categories.
In a world where half of the population lives in cities and more than 90 percent of urban growth is occurring in the developing world, cities struggle to modernize without completely losing their unique character, which is embodied by their historic cores and cultural heritage assets. As countries develop, cultural heritage can provide a crucial element of continuity and stability: the past can become a foundation for the future. This book collects innovative research papers authored by leading scholars and practitioners in heritage economics, and presents the most current knowledge on how heritage assets can serve as drivers of local economic development. What this book tries to suggest is a workable approach to explicitly take into account the cultural dimensions of urban regeneration in agglomerations that have a history and possess a unique character, going beyond an approach based solely on major cultural heritage assets or landmarks. The knowledge disseminated through this book will help stakeholders involved in preparation, implementation, and supervision of development investments to better assess the values of cultural heritage assets and incorporate them in urban development policies.
Global Housing Markets
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Author : Ashok Bardhan
language : en
Publisher: John Wiley & Sons
Release Date : 2011-10-27
Global Housing Markets written by Ashok Bardhan and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-27 with Business & Economics categories.
A global look at the reasons behind the recent economic collapse, and the responses to it The speculative bubble in the housing market began to burst in the United States in 2007, and has been followed by ruptures in virtually every asset market in almost every country in the world. Each country proposed a range of policy initiatives to deal with its crisis. Policies that focused upon stabilizing the housing market formed the cornerstone of many of these proposals. This internationally focused book evaluates the genesis of the housing market bubble, the global viral contagion of the crisis, and the policy initiatives undertaken in some of the major economies of the world to counteract its disastrous affects. Unlike other books on the global crisis, this guide deals with the housing sector in addition to the financial sector of individual economies. Countries in many parts of the world were players in either the financial bubble or the housing bubble, or both, but the degree of impact, outcome, and responses varied widely. This is an appropriate time to pull together the lessons from these various experiences. Reveals the housing crisis in the United States as the core of the meltdown Describes the evolution of housing markets and policies in the run-up to the crisis, their impacts, and the responses in European and Asian countries Compares experiences and linkages across countries and points to policy implications and research lessons drawn from these experiences Filled with the insights of well-known contributors with strong contacts in practice and academia, this timely guide discusses the history and evolution of the recent crisis as local to each contributor's part of the world, and examines its distinctive and common features with that of the U.S., the trajectory of its evolution, and the similarities and differences in policy response.
Heritage Counts
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Author : Koen Van Balen
language : en
Publisher: Maklu
Release Date : 2016-02-10
Heritage Counts written by Koen Van Balen and has been published by Maklu this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-10 with Architecture categories.
The idea of heritage as a “capital of irreplaceable cultural, social and economic value” was already present in the European Charter of the Architectural Heritage, adopted by the Council of Europe in 1975 (par.3). Today, this discourse is getting increasing attention on the research agenda. Some argue that, although heritage is always valued highly, the current interest in the impact of heritage is caused by the democratisation of heritage and the increased importance of heritage in today’s society. Others argue that a universal scarcity of funds for heritage management and conservation is the reason to give it its proper attention. Therefore, the Raymond Lemaire International Centre for Conservation (University of Leuven) considered “Heritage Counts” a relevant and timely topic for its yearly international conference, the “thematic week”. This edition twins with the “Cultural Heritage Counts for Europe” project, funded by the EU Culture Programme. The opening day of the conference was co-organised by the lead partner of this project, EUROPA NOSTRA, and brought together European policymakers and international researchers involved in cultural heritage. This volume specifically reports on the lectures and fruitful debates on heritage impact during the 2015 thematic week. It was observed that evolutions in discourse and policy hold a significant prospect, which also entail an increasing demand for shared insights and formation. In response, this publication reflects on heritage impact by providing research, case studies and reflections that can serve as baseline records, guidance - and hopefully inspiration. The findings are subdivided in three main chapters: “Framing the paradigm”, “Impact assessments: research, methods and practice” and “Linking management, conservation and sustainable development”.
Government Intervention In The Housing Market In Britain
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Author : Stuart M. Butler
language : en
Publisher:
Release Date : 1978
Government Intervention In The Housing Market In Britain written by Stuart M. Butler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Housing categories.