World heritage designation and residential property values: The case of Old Rauma, Finland

Purpose: The purpose of this paper is to evaluate the impact of beneficial externality generated by the World Heritage List (WHL) on residential property values in order to offer new insights into heritage discourses. Design/methodology/approach: The study uses the hedonic price model to estimate empirically the difference in prices for residential properties located in the Old Rauma World Heritage. The study uses residential sales transaction data from the City of Rauma from January 2005 to September 2012 drawn from an online database called KVKL Hintaseurantapalvelu managed by the Central Federation of Finnish Real Estate Agencies. Findings: The research results indicate a positive, but insignificant, relationship between the property sale prices (euros/sqm) and heritage designation. However, the total sale prices are higher in Old Rauma as the properties are significantly larger in Old Rauma compared to other properties in Rauma. Originality/value: Studies in heritage economics have assessed the influence of the property market on heritage listing and designation at either the national level, the local level or a mix of national/local levels. This paper contributes to the literature by analysing the impact of a United Nations Educational, Scientific and Cultural Organisation (UNESCO) world heritage designation on residential property values. UNESCO is the leading global institution which deals with the protection of heritage sites that transcend national and local boundaries.</p

Community heritage discourse (CHD): A multidisciplinary perspective in understanding built heritage conservation

Despite increasing efforts to protect cultural built heritage, destruction continues and impediments to effective heritage management remain. One solution calls for drawing on a broader stakeholder base to minimise barriers to better built heritage conservation. Whilst much remains to be done, there is evidence of enhanced stakeholder co-operation for reforms that could bring broader insights to this discourse. The objective of this paper is to qualify a new analytical concept entitled community heritage discourse (CHD). Reflecting on the structures, meanings and processes for consensus, expectations andcollective action, the paper addresses theoretical and empirical questions of what is built heritage, which values are significant, who is a stakeholder and their interrelationship with the conservation process. Employing an empirical approach including a literature review, focus groups and interviews from Australia and Tanzania, this study reveals that built heritage conservation exhibits a complementary dependence on changing landscape and collective memory plus individual attitudes and value systems. This understanding offers a more inclusive framework for the strategic development of heritage conservation plans across various jurisdictions thus generating a new approach to understanding the complex relationship between built heritage and stakeholder perceptions in heritage conservation.</p