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Measuring the impacts of Bus Rapid Transit on residential property values: The Beijing case

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  • Deng, Taotao
  • Ma, Mulan
  • Nelson, John D.

Abstract

Bus Rapid Transit (BRT) has emerged as a cost-effective transport system for urban mobility. The study uses the hedonic price model to investigate the impacts of BRT on residential property values in Beijing, where BRT has been in service for over 6 years. The empirical analysis suggests that BRT has positive impacts on surrounding property values. The hedonic price model shows that for every 100-m closer to the BRT station, asking prices of residential properties increase by between 1.32% and 1.39%. The study suggests that accessibility improvement, rather than the type of transit system, has certain influence on property values. The paper underscores the importance of considering the application of value-capture tools to help finance BRT investments and calls for complementary investment policies to enhance property value impacts.

Suggested Citation

  • Deng, Taotao & Ma, Mulan & Nelson, John D., 2016. "Measuring the impacts of Bus Rapid Transit on residential property values: The Beijing case," Research in Transportation Economics, Elsevier, vol. 60(C), pages 54-61.
    • Handle: RePEc:eee:retrec:v:60:y:2016:i:c:p:54-61
    DOI: 10.1016/j.retrec.2016.08.005
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    References listed on IDEAS

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    Cited by:

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    2. Guzman, Luis A. & Enríquez, Hernán Darío & Hessel, Phillip, 2021. "BRT system in Bogotá and urban effects: More residential land premiums?," Research in Transportation Economics, Elsevier, vol. 90(C).
    3. Li, Zheng, 2018. "The impact of metro accessibility on residential property values: An empirical analysis," Research in Transportation Economics, Elsevier, vol. 70(C), pages 52-56.
    4. Sitti Asmah Hassan & Intan Nurfauzirah Shafiqah Hamzani & Abd. Ramzi Sabli & Nur Sabahiah Abdul Sukor, 2021. "Bus Rapid Transit System Introduction in Johor Bahru: A Simulation-Based Assessment," Sustainability, MDPI, vol. 13(8), pages 1-13, April.
    5. Filippova, Olga & Sheng, Mingyue, 2020. "Impact of bus rapid transit on residential property prices in Auckland, New Zealand," Journal of Transport Geography, Elsevier, vol. 86(C).
    6. Yang, Linchuan & Chau, K.W. & Wang, Xu, 2019. "Are low-end housing purchasers more willing to pay for access to basic public services? Evidence from China," Research in Transportation Economics, Elsevier, vol. 76(C).
    7. Yamawaki, Y. & Castro Filho, F.M.d. & Costa, G.E.G.d., 2020. "Mega-event transport legacy in a developing country: The case of Rio 2016 Olympic Games and its Transolímpica BRT corridor," Journal of Transport Geography, Elsevier, vol. 88(C).
    8. Dubé, Jean & Andrianary, Eugénie & Assad-Déry, François & Poupart, Janie & Simard, Justine, 2018. "Exploring difference in value uplift resulting from new bus rapid transit routes within a medium size metropolitan area," Journal of Transport Geography, Elsevier, vol. 72(C), pages 258-269.
    9. Jian Liang & Kang Mo Koo & Chyi Lin Lee, 2021. "Transportation infrastructure improvement and real estate value: impact of level crossing removal project on housing prices," Transportation, Springer, vol. 48(6), pages 2969-3011, December.
    10. Qianyao Li & Junwu Wang & Judith Callanan & Binbin Lu & Zeng Guo, 2021. "The spatial varying relationship between services of the train network and residential property values in Melbourne, Australia," Urban Studies, Urban Studies Journal Limited, vol. 58(2), pages 335-354, February.
    11. Kuo-Cheng Hsu, 2020. "House Prices in the Peripheries of Mass Rapid Transit Stations Using the Contingent Valuation Method," Sustainability, MDPI, vol. 12(20), pages 1-21, October.
    12. Yang, Linchuan & Chu, Xiaoling & Gou, Zhonghua & Yang, Hongtai & Lu, Yi & Huang, Wencheng, 2020. "Accessibility and proximity effects of bus rapid transit on housing prices: Heterogeneity across price quantiles and space," Journal of Transport Geography, Elsevier, vol. 88(C).
    13. D'Elia, Vanesa Valeria & Grand, Mariana Conte & León, Sonia, 2020. "Bus rapid transit and property values in Buenos Aires: Combined spatial hedonic pricing and propensity score techniques," Research in Transportation Economics, Elsevier, vol. 80(C).

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