A New Central Station for a Unified City: Predicting Impact on Property Prices for Urban Railway Network Extensions in Berlin
AbstractThis paper develops a framework for predicting impact of urban railway network extensions on property prices. Impact of market potential and access to employment is assessed within a hedonic model environment employing potentiality variables and highly disaggregated data. Based on empirical results, expected impact on property prices is assessed for proposed railway extensions connecting Berlin’s new central station to the existing metrorail and suburban railway network. Relying on simulated changes in population and employment potentialities, expected increase in aggregated land value is compared for residential and business properties. Application of highly disaggregated data allows detailed mapping of expected pattern of impacts.
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Bibliographic InfoPaper provided by Chair for Economic Policy, University of Hamburg in its series Working Papers with number 013.
Length: 32 pages
Date of creation: 2007
Date of revision:
Publication status: Published in Hamburg Contemporary Economic Discussions, Issue 13, 2007
Urban Transport; Market Access; Employment Access; Land Values; Polycentric City; Berlin;
Find related papers by JEL classification:
- R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
- R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
- R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Systems - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning
- R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations
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