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COVID-19 and the demand for transit access: Residential real estate prices in the Tokyo metropolitan area

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  • Schouten, Andrew
  • Kawano, Yoh

Abstract

To better understand the spatial implications of the COVID-19 pandemic on demand for both housing and transportation, this analysis examines sales price data from condominiums in the Tokyo metropolitan area. Demand for high-access condominiums—both those near transit stations and those in close proximity to the city center—was strong throughout the study period (2017–2022), and showed neither a positive nor negative association with the onset of the pandemic. Price growth for lower-access properties—those further from transit stations and those in peripheral suburban locations—was, by contrast, far more robust during the COVID era than in the pre-pandemic period. Results suggest that COVID-related changes in travel behavior—particularly the decreased commute burden associated with remote work—may have made lower-access locations more attractive to home buyers. This has not, however, tempered demand for properties near transit and in the central city, which remained strong throughout the pandemic period.

Suggested Citation

  • Schouten, Andrew & Kawano, Yoh, 2024. "COVID-19 and the demand for transit access: Residential real estate prices in the Tokyo metropolitan area," Journal of Transport Geography, Elsevier, vol. 114(C).
    • Handle: RePEc:eee:jotrge:v:114:y:2024:i:c:s0966692323002144
    DOI: 10.1016/j.jtrangeo.2023.103742
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