A combination of strong urbanization and shortage of land in many European city areas prompts an impetus of infill development, with current residents often raising concerns that infill development leads to lower nearby property prices. The aim of this paper is to analyze how nearby property prices are affected by new construction projects in Stockholm, Sweden. We use a difference-in-difference specification in a hedonic model, and our sample consists of more than 40,000 observations over the period 2005–2013. Our results are robust and indicate that house prices in nearby areas increase following the completion of infill development. Our results also indicate that infill development only has a positive spillover effect on nearby house prices only in areas with lower incomes, more public housing units and more inhabitants born abroad.

中文翻译：

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富人的青年人和穷人的青年人：分析填料开发的房地产价格影响

在许多欧洲城市地区，强劲的城市化进程和土地短缺共同推动了填充开发的动力，当前居民经常担心填充开发会降低附近的房地产价格。本文的目的是分析瑞典斯德哥尔摩的新建筑项目如何影响附近的房地产价格。我们在享乐模型中使用了差异差异规范，我们的样本包含2005-2013年期间的40,000多个观测值。我们的结果很可靠，表明随着填充开发的完成，附近地区的房价会上涨。我们的结果还表明，只有在收入较低，公共住房单位更多，在国外出生的居民更多的地区，填充开发才对附近的房价产生积极的溢出效应。