Homes in Formerly Bombed-Out Areas of Rotterdam Now Command Higher Prices

Home prices are now about 10% higher (controlling for amenities and neighborhood attributes) in areas of Rotterdam’s city center that were bombed in World War II, in comparison with neighborhoods that were untouched. The difference illustrates the impact on homeowners of historic-district rules such as maintenance obligations, says a team led by Hans R.A. Koster of VU University in Amsterdam. Because of the bombing, Rotterdam is the only Dutch city with an American-style central business district with high-rise buildings.