Abstract
Popularity of infill development is increasing because of the environmental benefits and cost saving potential it provides, which relate to the possibility to use existing infrastructure and services. However, the impact of infill development on value of existing properties has not been studied to a sufficient extent. Therefore, the aim of our study is to analyse whether infill development affects the prices of existing apartments. We carried out statistical analysis based on data from seven case neighbourhoods, and prices of more than 6000 housing transactions from one decade. The results of our analysis do not support the hypothesis of infill development affecting positively existing housing prices, but neither did the study show a significant negative effect. Both amenity effect and negative externalities may provide explanations as to why property values do not change due to infill development.
| Original language | English |
|---|---|
| Pages (from-to) | 157-167 |
| Number of pages | 11 |
| Journal | International Journal of Strategic Property Management |
| Volume | 22 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - 1 Jan 2018 |
| MoE publication type | A1 Journal article-refereed |
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Keywords
- infill development
- housing prices
- urgan neighbourhood
- property value
- price development
Cite this
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Impact of infill development on prices of existing apartments in finnish urban neighbourhoods. / Ahvenniemi, Hannele; Pennanen, Kyösti; Knuuti, Antti; Arvola, Anne; Viitanen, Kauko.
In: International Journal of Strategic Property Management, Vol. 22, No. 3, 01.01.2018, p. 157-167.Research output: Contribution to journal › Article › Scientific › peer-review
TY - JOUR
T1 - Impact of infill development on prices of existing apartments in finnish urban neighbourhoods
AU - Ahvenniemi, Hannele
AU - Pennanen, Kyösti
AU - Knuuti, Antti
AU - Arvola, Anne
AU - Viitanen, Kauko
PY - 2018/1/1
Y1 - 2018/1/1
N2 - Popularity of infill development is increasing because of the environmental benefits and cost saving potential it provides, which relate to the possibility to use existing infrastructure and services. However, the impact of infill development on value of existing properties has not been studied to a sufficient extent. Therefore, the aim of our study is to analyse whether infill development affects the prices of existing apartments. We carried out statistical analysis based on data from seven case neighbourhoods, and prices of more than 6000 housing transactions from one decade. The results of our analysis do not support the hypothesis of infill development affecting positively existing housing prices, but neither did the study show a significant negative effect. Both amenity effect and negative externalities may provide explanations as to why property values do not change due to infill development.
AB - Popularity of infill development is increasing because of the environmental benefits and cost saving potential it provides, which relate to the possibility to use existing infrastructure and services. However, the impact of infill development on value of existing properties has not been studied to a sufficient extent. Therefore, the aim of our study is to analyse whether infill development affects the prices of existing apartments. We carried out statistical analysis based on data from seven case neighbourhoods, and prices of more than 6000 housing transactions from one decade. The results of our analysis do not support the hypothesis of infill development affecting positively existing housing prices, but neither did the study show a significant negative effect. Both amenity effect and negative externalities may provide explanations as to why property values do not change due to infill development.
KW - infill development
KW - housing prices
KW - urgan neighbourhood
KW - property value
KW - price development
UR - http://www.scopus.com/inward/record.url?scp=85048515780&partnerID=8YFLogxK
U2 - 10.3846/ijspm.2018.1540
DO - 10.3846/ijspm.2018.1540
M3 - Article
VL - 22
SP - 157
EP - 167
JO - International Journal of Strategic Property Management
JF - International Journal of Strategic Property Management
SN - 1648-715X
IS - 3
ER -