Adaptive Reuse of Religious Heritage and Its Impact on House Prices

Caixia Liu, Xiaolong Liu*

*Bijbehorende auteur voor dit werk

OnderzoeksoutputAcademicpeer review

1 Citaat (Scopus)
36 Downloads (Pure)


Due to social demographic change and secularization, religious heritage sites in Europe are on the verge of losing their original functions. While the adaptive reuse seems to be a proactive strategy to preserve the historical and cultural value embedded in religious heritage sites, little is known concerning its external impact. This paper aims to fill this gap by investigating the external effect of reusing religious heritage on surrounding house prices. Employing both the parametric and non-parametric difference-in-differences hedonic model on a sample of 42 projects of reusing religious heritage and a rich dataset of housing transactions in the Netherlands, we find significant positive externality of reusing religious heritage on local house prices. The external effects are heterogeneous across differentiated project size and monumental status. Larger religious heritage reuse projects and those listed as national monuments exert greater influence on surrounding house prices.

Originele taal-2English
Pagina's (van-tot)71–92
Aantal pagina's22
TijdschriftJournal of Real Estate Finance and Economics
Nummer van het tijdschrift1
Vroegere onlinedatum12-okt-2020
StatusPublished - jan-2022

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