Due to social demographic change and secularization, religious heritage sites in Europe are on the verge of losing their original functions. While the adaptive reuse seems to be a proactive strategy to preserve the historical and cultural value embedded in religious heritage sites, little is known concerning its external impact. This paper aims to fill this gap by investigating the external effect of reusing religious heritage on surrounding house prices. Employing both the parametric and non-parametric difference-in-differences hedonic model on a sample of 42 projects of reusing religious heritage and a rich dataset of housing transactions in the Netherlands, we find significant positive externality of reusing religious heritage on local house prices. The external effects are heterogeneous across differentiated project size and monumental status. Larger religious heritage reuse projects and those listed as national monuments exert greater influence on surrounding house prices.

由于社会人口变化和世俗化，欧洲的宗教遗产遗址濒临丧失其原有功能。尽管自适应重用似乎是一种保护宗教遗产中嵌入的历史和文化价值的积极策略，但对其外部影响知之甚少。本文旨在通过调查重用宗教遗产对周围房价的外部影响来填补这一空白。在荷兰的42个重复使用宗教遗产的项目和丰富的住房交易数据样本中，采用参数和非参数的差异差异享乐模型，我们发现在当地房价上重复使用宗教遗产具有显着的积极外部性。外部影响在不同的项目规模和具有里程碑意义的状态之间是不同的。