The external effects of inner-city shopping centers: Evidence from the Netherlands

Song Zhang*, Mark van Duijn, A. J. van der Vlist

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

1 Citation (Scopus)
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Abstract

Shopping center redevelopment is inevitable to remain attractive for consumers. In this paper, we investigate the external effects of shopping center redevelopment on nearby residential property prices. Using a difference-in-difference empirical framework, we find the redevelopment has positive external effects on nearby property prices. We find the price of a property located next to a redeveloped shopping center increases by 1.43% on average just after redevelopment. Our results indicate that these positive external effects wear off rather rapidly across space and over time. This suggests that shopping center redevelopment plays a substantial, but limited, role in combating neighborhood deprivation.

Original languageEnglish
Pages (from-to)583-611
Number of pages29
JournalJournal of Regional Science
Volume60
Issue number4
Early online date9-Nov-2019
DOIs
Publication statusPublished - Sep-2020

Keywords

  • MATCHING ESTIMATORS
  • REDEVELOPMENT
  • VALUES
  • LOCATION
  • MALL

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