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1. Do places of worship affect housing prices? Evidence from Germany

Author:
Sebastian Brandt, Wolfgang Maennig, and Felix J. Richter
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
Using hedonic pricing models, this paper analyzes the impact of places of worship on the prices of adjacent condominiums in Hamburg, Germany. This is the first study on this subject to have been conducted outside the United States. It is also the first work to examine the externalities of places of worship of all five world religions. Furthermore, it is the first study that analyzes the effect of bell ringing on the adjacent residential property prices. Controlling for spatial dependence and by using potentiality variables positive externalities of places of worship within a radius of 1,000m were identified. Compared to properties beyond this threshold, price premiums of 4.8% were detected for condominiums at distances of 100m to 200m to the next place of worship. The results also show that the positive externalities near mosques do not differ from those of places of worship of other religions and that the positive effect of churches continues to be felt even after they have been deconsecrated. The influence of church bell ringing on the prices of surrounding residential properties, however, could not be substantiated.
Topic:
Economics, Religion, Property, and Price
Political Geography:
Europe and Germany

2. Perceived Externalities of Cell Phone Base Stations Stations – The Case of Property Prices in The Case of Property Prices in Hamburg, Germany Hamburg, Germany

Author:
Sebastian Brandt and Wolfgang Maennig
Publication Date:
11-2010
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
We examine the impact of cell phone base stations on prices of condominiums in Hamburg, Germany. This is the first hedonic pricing study on this subject for real estates in Europe and the first worldwide which examines the price impact of base stations within a whole metropolis. We distinguish between individual masts and groups of masts. Based on a data set of over 1,000 base stations set up in Hamburg, we find that only immediate proximity to groups of antenna masts is perceived as harmful by residents of nearby condominiums. For individual masts, however, no effect on residential property prices in the surrounding areas has been observed indicating that cell phone service providers should prevent installation of groups of masts in a single location. We control for spatial dependence and show that the influence of cell phone base stations on adjacent residential property prices can be overestimated, if other negative externalities that are typically correlated with the proximity to base stations are neglected.
Topic:
Science and Technology, Property, and Cell Phone Base Stations
Political Geography:
Europe, Germany, and Hamburg