Historic Amenities and Housing Externalities: Evidence from The Netherlands

It has been argued that the growth of cities is increasingly determined by the presence of amenities. We study the economic effects of large scale subsidised investments in historic amenities, by looking at their impact on house prices. We aim to distinguish between the direct and indirect effect of investments. The latter implies a change in the behaviour of neighbours via changes in the level of maintenance of the house. We use a large nationwide dataset with housing transactions from 1985-2011 and data on investments in cultural heritage. To control for the fact that these investments are n... Mehr ...