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The impact of Bus Rapid Transit (BRT) on land and property values: A meta-analysis

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  • Zhang, Min
  • Yen, Barbara T.H.

Abstract

Throughout the world, Bus Rapid Transit (BRT) has become a popular transit solution for cities wanting to improve urban mobility and economic opportunities through land and property value uplift (LVU). However, the relevant literature reports a mixed impact of BRT on land and property values. This research aims to explain the variation in impacts by conducting a meta-analysis of 23 empirical studies which have estimated the amount of LVU that is attributable to BRT. Using a random-effects model, four categories of factors that may influence estimates of BRT impacts are analysed: BRT system characteristics; land type and accessibility; research methods; and the spatial and temporal characteristics of the case study. Several factors were found to have a statistically significant impact on estimated LVU impacts from BRT systems including maturity of the BRT system; property or land; type of value (asking price, assessed price or sales price); the distance to BRT stations; the research method; and the geographical location of the BRT system. Using the quantifiability advantages of meta-analysis techniques, we further conducted a broad comparison between our results and the findings from one previous meta-analysis study on Rail-Based Transit (RBT), and discussed how the LVU impact differs between BRT and RBT. The findings from this research suggest several key recommendations for future studies into the impact of BRT on land and property values. They also inform policy analyses on transit funding through land and property value gains.

Suggested Citation

  • Zhang, Min & Yen, Barbara T.H., 2020. "The impact of Bus Rapid Transit (BRT) on land and property values: A meta-analysis," Land Use Policy, Elsevier, vol. 96(C).
    • Handle: RePEc:eee:lauspo:v:96:y:2020:i:c:s0264837718305830
    DOI: 10.1016/j.landusepol.2020.104684
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    References listed on IDEAS

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    2. Acton, Blake & Le, Huyen T.K. & Miller, Harvey J., 2022. "Impacts of bus rapid transit (BRT) on residential property values: A comparative analysis of 11 US BRT systems," Journal of Transport Geography, Elsevier, vol. 100(C).
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    4. Tianshu Li & Zhigang Chen, 2022. "The impact of transportation development on land price differences between cities: Widening or narrowing?—A case study based on the provincial level of Mainland China," Growth and Change, Wiley Blackwell, vol. 53(2), pages 910-932, June.
    5. Anas, Alex & De Sarkar, Sayan & Timilsina, Govinda R., 2021. "Bus Rapid Transit versus road expansion to alleviate congestion: A general equilibrium comparison," Economics of Transportation, Elsevier, vol. 26.
    6. Rennert, Lindiwe, 2022. "A meta-analysis of the impact of rail stations on property values: Applying a transit planning lens," Transportation Research Part A: Policy and Practice, Elsevier, vol. 163(C), pages 165-180.
    7. 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).
    8. Yen, Barbara T.H. & Li, Jun-Sheng, 2022. "Route-based performance evaluation for airlines – A metafrontier data envelopment analysis approach," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 162(C).
    9. Zhang, Min, 2023. "Value uplift from transit investment-Property value or land value? A case study of the Gold Coast light rail system in Australia," Transport Policy, Elsevier, vol. 132(C), pages 88-98.

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