{"title":"手工酿酒厂与住宅物业价值","authors":"Yang Zhou, Neil Reid, Michael C. Carroll","doi":"10.1111/grow.12710","DOIUrl":null,"url":null,"abstract":"<p>This paper studies the effect of craft breweries on residential property values. Using a hedonic Difference-in-Differences (DID) approach and about 250 thousand housing transactions in Denver, Colorado from 1990 to 2016, we investigate the impact of proximity to a craft brewery on residential property values. We consider three types of residence (single-family home, row house, and condominiums), three types of brewery (all craft breweries, microbreweries, and brewpubs/taprooms), and two measurements of distance (Euclidian and walk-time). Our most robust results are found for single-family homes, whose values enjoy a premium of up to 20.4% for being in proximity to a brewpub/taproom several years after, with the average annual maximum premium around 3%. As expected, premiums decline as distance from breweries increase. Beyond a distance of 0.5 km or a 10-min walk-time, the premium for a regional/microbrewery is greater than that for a brewpub/taproom. For single family homes within 4 km or 40-min walk-time, the annualized premium ranges between 0.41% and 3.01%. These findings support the narrative that craft breweries are a neighborhood asset.</p>","PeriodicalId":47545,"journal":{"name":"Growth and Change","volume":null,"pages":null},"PeriodicalIF":2.9000,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/grow.12710","citationCount":"0","resultStr":"{\"title\":\"Craft breweries and residential property values\",\"authors\":\"Yang Zhou, Neil Reid, Michael C. Carroll\",\"doi\":\"10.1111/grow.12710\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>This paper studies the effect of craft breweries on residential property values. Using a hedonic Difference-in-Differences (DID) approach and about 250 thousand housing transactions in Denver, Colorado from 1990 to 2016, we investigate the impact of proximity to a craft brewery on residential property values. We consider three types of residence (single-family home, row house, and condominiums), three types of brewery (all craft breweries, microbreweries, and brewpubs/taprooms), and two measurements of distance (Euclidian and walk-time). Our most robust results are found for single-family homes, whose values enjoy a premium of up to 20.4% for being in proximity to a brewpub/taproom several years after, with the average annual maximum premium around 3%. As expected, premiums decline as distance from breweries increase. Beyond a distance of 0.5 km or a 10-min walk-time, the premium for a regional/microbrewery is greater than that for a brewpub/taproom. For single family homes within 4 km or 40-min walk-time, the annualized premium ranges between 0.41% and 3.01%. These findings support the narrative that craft breweries are a neighborhood asset.</p>\",\"PeriodicalId\":47545,\"journal\":{\"name\":\"Growth and Change\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":2.9000,\"publicationDate\":\"2024-02-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://onlinelibrary.wiley.com/doi/epdf/10.1111/grow.12710\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Growth and Change\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.1111/grow.12710\",\"RegionNum\":3,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"DEVELOPMENT STUDIES\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Growth and Change","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/grow.12710","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"DEVELOPMENT STUDIES","Score":null,"Total":0}
This paper studies the effect of craft breweries on residential property values. Using a hedonic Difference-in-Differences (DID) approach and about 250 thousand housing transactions in Denver, Colorado from 1990 to 2016, we investigate the impact of proximity to a craft brewery on residential property values. We consider three types of residence (single-family home, row house, and condominiums), three types of brewery (all craft breweries, microbreweries, and brewpubs/taprooms), and two measurements of distance (Euclidian and walk-time). Our most robust results are found for single-family homes, whose values enjoy a premium of up to 20.4% for being in proximity to a brewpub/taproom several years after, with the average annual maximum premium around 3%. As expected, premiums decline as distance from breweries increase. Beyond a distance of 0.5 km or a 10-min walk-time, the premium for a regional/microbrewery is greater than that for a brewpub/taproom. For single family homes within 4 km or 40-min walk-time, the annualized premium ranges between 0.41% and 3.01%. These findings support the narrative that craft breweries are a neighborhood asset.
期刊介绍：
Growth and Change is a broadly based forum for scholarly research on all aspects of urban and regional development and policy-making. Interdisciplinary in scope, the journal publishes both empirical and theoretical contributions from economics, geography, public finance, urban and regional planning, agricultural economics, public policy, and related fields. These include full-length research articles, Perspectives (contemporary assessments and views on significant issues in urban and regional development) as well as critical book reviews.
求助内容：
应助结果提醒方式：
京公网安备 11010802042870号
