Measuring the Economic Impact on Land Prices of Announcement of the Tokyo Winning the 2020 Olympic and Paralympic Games

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  • KAGAWA Ryosuke
    University of Tsukuba, Graduate School of Systems and Information Engineering
  • OGURA Toshihito
    Mitsui Fudosan Residential Co.,Ltd.
  • OTA Mitsuru
    University of Tsukuba, Faculty of Engineering, Information and Systems
  • Ushijim Koichi
    University of Tsukuba, Faculty of Engineering, Information and Systems

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Other Title
  • 東京オリンピック・パラリンピックの開催決定で住宅地地価は上昇するか？
  • トウキョウ オリンピック ・ パラリンピック ノ カイサイ ケッテイ デ ジュウタクチ チカ ワ ジョウショウ スル カ?

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Abstract

The purpose of this study is to investigate the impact of the Tokyo 2020 Olympic and Paralympic Games announcement on residential land prices. Using the data of official land prices from 2010 to 2015, the degree of the rise of the land prices was measured around the area in which the Olympic Village is built. Just after the announcement of September, 2013 the degree of the rise in land prices was measured around the area in which the Olympic Village is to be built. A rise in land prices of 8.0% around the Olympic Village and an average of approximately 3.0% within 12km of radius was confirmed in 2015 as a result of the estimation. When a proxy indicator of the urban redevelopments was added as a variable, a rise in land prices of an average of approximately 1.6% within the radius 12km from the Olympic Village was confirmed. In other words, these estimated results suggest the possibility that about half of rise in land prices was due to the influence of urban development.

Journal

  • Urban housing sciences

    Urban housing sciences 2017 (97), 126-135, 2017

    Association of Urban Housing Sciences

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