Economic Impact of a Heritage Policy on Residential Property Values in a Historic District Context: The Case of the Old City of Quebec

A heritage policy and urban landscaping project in the UNESCO-listed Old City of Quebec had mixed effects on residential property values. While properties closest to the reorganized street saw no significant price impact, those located 150 to 450 meters away experienced a decline in value. This study highlights the complex relationship between heritage policies and urban development, using a difference-in-differences (DID) estimator based on a hedonic repeated sales approach to isolate these effects. The research provides insights into how proximity to such projects can influence property values, offering valuable data for policymakers and urban planners.

Devaux, N., Berthold, E., & Dube, J. (2018). Economic Impact of a Heritage Policy on Residential Property Values in a Historic District Context: The Case of the Old City of Quebec. Review of Regional Studies, 48(3). https://doi.org/10.52324/001c.7989