Work

The value of culture to urban housing markets

Year: 2018

Type: article

Abstract: Cultural amenities are the expression of a cultural environment, given by a combination of aesthetic factors, styles, rhythms and behaviours, which contribute to make a neighbourhood vibrant and more enjoyable. Following the hedonic approach, we propose an empirical strategy to capture the multiple effects of cultural amenities, as well as the effects produced by green areas, public transport and university proximity. The results are used to determine whether cultural amenities are optimally provided by the municipality of Milan, Italy. It emerged that investments in culture generate positive effects to society, and that governments should devote far more resources to culture.

Source: Regional Studies

DOI: 10.1080/00343404.2018.1444271

Authors: Riccardo Borgoni, Alessandra Michelangeli, Nicola Pontarollo

Institutions: University of Milano-Bicocca, European Commission, Joint Research Centre

Language: English

Topic: Cultural Industries and Urban Development

Subfield: Urban Studies

Field: Social Sciences

Domain: Social Sciences

SDG: Sustainable cities and communities

Open Access status: green

Funders: University of Glasgow, University of Bristol