IDEAS home Printed from https://ideas.repec.org/a/taf/transp/v40y2017i2p143-166.html
   My bibliography  Save this article

A logit-based model for measuring the effects of transportation infrastructure on land value

Author

Listed:
  • Saeed Asadi Bagloee
  • Mitra Heshmati
  • Madjid Tavana
  • Debora Di Caprio

Abstract

Mutual interactions between transportation and land use have long been debated. Despite progress made in computational technology, the study of these interactions is not adequately developed. The most important aspect of such interactions is given by the changes in land values due to changes in transportation infrastructures. We consider the behavioural features of these interactions along with the constraints on the land and/or zoning restrictions and propose a reliable model for the first time to predict land value changes with respect to changes in transportation facilities and accessibility. The proposed model is a logit-based mathematical programming methodology where the relative price of land is predicted with respect to transportation accessibility, neighbourhood amenities, location premium, availability of land, and zoning regulations. A real-world case study is used to exhibit the applicability of the proposed methodology and demonstrate the efficacy of the algorithms and procedures.

Suggested Citation

  • Saeed Asadi Bagloee & Mitra Heshmati & Madjid Tavana & Debora Di Caprio, 2017. "A logit-based model for measuring the effects of transportation infrastructure on land value," Transportation Planning and Technology, Taylor & Francis Journals, vol. 40(2), pages 143-166, February.
    • Handle: RePEc:taf:transp:v:40:y:2017:i:2:p:143-166
    DOI: 10.1080/03081060.2016.1266164
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/03081060.2016.1266164
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/03081060.2016.1266164?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Weinberger, Rachel R., 2001. "Commercial Property Value and Proximity to Light Rail: A Hedonic Price Application," University of California Transportation Center, Working Papers qt3rb737r9, University of California Transportation Center.
    2. Herath, Shanaka & Maier, Gunther, 2010. "The hedonic price method in real estate and housing market research. A review of the literature," SRE-Discussion Papers 2010/03, WU Vienna University of Economics and Business.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bator Anne & Hervé Blanchard, 2024. "The housing price index and the number of housing units: a surprising co-movement in France," Economics Bulletin, AccessEcon, vol. 44(1), pages 490-499.
    2. Hyunsoo Kim & Youngwoo Kwon & Yeol Choi, 2020. "Assessing the Impact of Public Rental Housing on the Housing Prices in Proximity: Based on the Regional and Local Level of Price Prediction Models Using Long Short-Term Memory (LSTM)," Sustainability, MDPI, vol. 12(18), pages 1-25, September.
    3. Süreyya Özöğür Akyüz & Birsen Eygi Erdogan & Özlem Yıldız & Pınar Karadayı Ataş, 2023. "A Novel Hybrid House Price Prediction Model," Computational Economics, Springer;Society for Computational Economics, vol. 62(3), pages 1215-1232, October.
    4. Sandi, Eleni, 2023. "Estimating the Impact of the Minimum Energy Efficiency Standard on Property Prices," Warwick-Monash Economics Student Papers 47, Warwick Monash Economics Student Papers.
    5. Juan-Gabriel Gonzalez-Morales & Marina Checa-Olivas & Rafael Cano-Guervos, 2021. "Impact of Evictions and Tourist Apartments on the Residential Rental Market in Spain," Sustainability, MDPI, vol. 13(13), pages 1-13, July.
    6. Hugo Schnoering & Hugo Inzirillo, 2022. "Constructing a NFT Price Index and Applications," Papers 2202.08966, arXiv.org, revised Mar 2022.
    7. Maier, Gunther, 2011. "Immobilienbewertung - theoretische Konzepte und praktische Anwendungen," SRE-Discussion Papers 2011/03, WU Vienna University of Economics and Business.
    8. Shanaka Herath, 2011. "Does it matter how far you live from the city centre? A study of apartment values in Vienna," ERES eres2011_97, European Real Estate Society (ERES).
    9. Saiz, Albert & Salazar-Miranda, Arianna, 2023. "Understanding Urban Economies, Land Use, and Social Dynamics in the City: Big Data and Measurement," IZA Discussion Papers 16501, Institute of Labor Economics (IZA).
    10. Pablo Picardo, 2019. "Predicción de precios de vivienda: Aprendizaje estadístico con datos de oferta y transacciones para la ciudad de Montevideo," Documentos de trabajo 2019002, Banco Central del Uruguay.
    11. Ekaterina Bobrovskaya & Andrey Polbin & Nikita Fokin, 2024. "Hedonic Price Indices for Moscow Short-Term Rental Housing," Russian Journal of Money and Finance, Bank of Russia, vol. 83(1), pages 77-103, March.
    12. Elżbieta Jasińska & Edward Preweda, 2021. "Statistical Modelling of the Market Value of Dwellings, on the Example of the City of Kraków," Sustainability, MDPI, vol. 13(16), pages 1-25, August.
    13. Kaida Chen & Hanliang Lin & Oliver F. Shyr & Shuying You, 2023. "What are the differences in urban citizens’ preferences for the colour of condominium building facades?," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-17, December.
    14. Kelly D. Edmiston, 2012. "Nonprofit housing investment and local area home values," Economic Review, Federal Reserve Bank of Kansas City, vol. 97(Q I), pages 67-96.
    15. Wolfgang Brunauer & Stefan Lang & Wolfgang Feilmayr, 2013. "Hybrid multilevel STAR models for hedonic house prices," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 33(2), pages 151-172, October.
    16. Martin Jurkovic & Dirk Schiereck, 2023. "Internationale Büroimmobilien-Investoren: Preisprämien aufgrund von Selektionsverzerrungen? [International office investors: price premiums due to “selection bias”?]," Zeitschrift für Immobilienökonomie (German Journal of Real Estate Research), Springer;Gesellschaft für Immobilienwirtschaftliche Forschung e. V., vol. 9(1), pages 1-29, April.
    17. Ermanno Affuso & John Reid Cummings & Donald Alex Beebe & Steven R. Schultze, 2022. "Endogenous, Regime-Switching Hedonic Estimation of Commercial Waterway Water Quality Impact on Home Values in the Alabama Black Belt," Sustainability, MDPI, vol. 14(18), pages 1-17, September.
    18. Benedetti Ilaria & Laureti Tiziana & Biggeri Luigi, 2022. "Sub-National Spatial Price Indexes for Housing: Methodological Issues and Computation for Italy," Journal of Official Statistics, Sciendo, vol. 38(1), pages 57-82, March.
    19. Ayaz Ahmad & Nasir Iqbal & Rehana Siddiqui, 2018. "Determinants of Housing Demand in Urban Areas of Pakistan: Evidence from the PSLM," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 57(1), pages 1-25.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:transp:v:40:y:2017:i:2:p:143-166. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/GTPT20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.