The ex-ante impact of conflict over infrastructure settings on residential property values. The case of Paris's suburban zones
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- handle: 10670/1.hezny8
- hal: hal-01277131
- doi: 10.1177/0042098014546499
- PRODINRA: 336448
- WOS: 000361117200007
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info:eu-repo/semantics/altIdentifier/doi/10.1177/0042098014546499
Mots-clés
House prices Infrastructure setting conflicts Market expectations Hedonic Real Estate Residential D - Microeconomics/D.D7 - Analysis of Collective Decision-Making/D.D7.D74 - Conflict • Conflict Resolution • Alliances • Revolutions H - Public Economics/H.H7 - State and Local Government • Intergovernmental Relations/H.H7.H76 - State and Local Government: Other Expenditure Categories L - Industrial Organization/L.L8 - Industry Studies: Services/L.L8.L85 - Real Estate Services R - Urban, Rural, Regional, Real Estate, and Transportation Economics/R.R2 - Household Analysis/R.R2.R23 - Regional Migration • Regional Labor Markets • Population • Neighborhood Characteristics R - Urban, Rural, Regional, Real Estate, and Transportation Economics/R.R3 - Real Estate Markets, Spatial Production Analysis, and Firm Location/R.R3.R31 - Housing Supply and Markets R - Urban, Rural, Regional, Real Estate, and Transportation Economics/R.R3 - Real Estate Markets, Spatial Production Analysis, and Firm Location/R.R3.R32 - Other Spatial Production and Pricing Analysis R - Urban, Rural, Regional, Real Estate, and Transportation Economics/R.R5 - Regional Government Analysis/R.R5.R53 - Public Facility Location Analysis • Public Investment and Capital StockSujets proches
Real property--Law and legislation Catastral surveys Real estate law Cadastral surveys Realty Property, Real Freehold Real estate Limitations (Law)Citer ce document
André Torre et al., « The ex-ante impact of conflict over infrastructure settings on residential property values. The case of Paris's suburban zones », HAL-SHS : droit et gestion, ID : 10.1177/0042098014546499
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Résumé
The presence of nearby public facilities has an impact on real-estate values; for this reason, the market may reasonably anticipate that public infrastructure projects will affect house prices. But undesirable and semi-desirable facility location choices may be contested by nearby residents, as they are a source of negative externalities or expectations. In Paris’s suburban zones, opposition to these infrastructures is frequent, and the official announcement of a project does not automatically mean it will be implemented. Through three case studies, we explore the way in which the expectation mechanism is affected by legal conflicts driven by nearby residents. We suppose that expectations depend on the probability that a given project will be realised. The variation is captured by a hedonic model. As conflicts amplify or reduce the certainty of the new facility’s arrival, market perceptions of the infrastructure vary.