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The Impact of Rail Transport on Real Estate Prices

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  • Ghebreegziabiher Debrezion
  • Eric Pels
  • Piet Rietveld

Abstract

A hedonic pricing model is estimated based on sales data from three metropolitan areas in the Netherlands (Amsterdam, Rotterdam and Enschede) to analyse the effect of railway accessibility on house prices. Railway accessibility is measured by both the distance to a railway station and an index of quality of railway services provided at the station. Two railway station considerations were taken: the nearest railway station and the most frequently chosen railway station. Correcting for a wide range of other determinants, the model based on the most frequently chosen station outperforms the model based on the nearest railway station in estimating the effect of railway accessibility. The dissimilarity between the results of the two models increases with the increase in the urbanisation level of the metropolitan area.

Suggested Citation

  • Ghebreegziabiher Debrezion & Eric Pels & Piet Rietveld, 2011. "The Impact of Rail Transport on Real Estate Prices," Urban Studies, Urban Studies Journal Limited, vol. 48(5), pages 997-1015, April.
    • Handle: RePEc:sae:urbstu:v:48:y:2011:i:5:p:997-1015
    DOI: 10.1177/0042098010371395
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    References listed on IDEAS

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    Cited by:

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    11. Shaoying Li & Xiaoping Liu & Zhigang Li & Zhifeng Wu & Zijun Yan & Yimin Chen & Feng Gao, 2018. "Spatial and Temporal Dynamics of Urban Expansion along the Guangzhou–Foshan Inter-City Rail Transit Corridor, China," Sustainability, MDPI, vol. 10(3), pages 1-18, February.
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    13. Richard H. Rijnks & Stephen Sheppard, 2018. "Occupant Well-Being and House Values," Department of Economics Working Papers 2018-05, Department of Economics, Williams College.
    14. Shengxiao Li & Luoye Chen & Pengjun Zhao, 2019. "The impact of metro services on housing prices: a case study from Beijing," Transportation, Springer, vol. 46(4), pages 1291-1317, August.
    15. Alicia N. Rambaldi & Cameron S. Fletcher & Kerry Collins & Ryan R.J. McAllister, 2013. "Housing Shadow Prices in an Inundation-prone Suburb," Urban Studies, Urban Studies Journal Limited, vol. 50(9), pages 1889-1905, July.
    16. Yuxiang Wang & Xueli Liu & Feng Wang, 2018. "Economic Impact of the High-Speed Railway on Housing Prices in China," Sustainability, MDPI, vol. 10(12), pages 1-21, December.
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    20. Mulley, Corinne & Tsai, Chi-Hong (Patrick) & Ma, Liang, 2018. "Does residential property price benefit from light rail in Sydney?," Research in Transportation Economics, Elsevier, vol. 67(C), pages 3-10.

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