A meta-analysis of the impact of rail projects on land and property values
The literature on land and property values demonstrates a great deal of variability in the estimated change in values arising from rail investments. This paper conducts a meta-analysis on empirical estimates from 23 studies (102 observations) that analysed the impact of rail on land/property value changes. Variation in the estimated impacts is calculated and discussed in relation to key dimensions of study-design characteristics. The results show that a number of factors produce significant variations in the estimates. These include the type of land use, the type of rail service, the rail system life cycle maturity, the distance to stations, the geographical location, accessibility to roads, methodological characteristics, as well as whether the impacted area is land or property. On the other hand, we observe that changes in purchase price and rent values due to rail projects are statistically similar to each other, that there is no evidence of change in values over time nor due to the location of land/property within the city, and that including property characteristics and neighbourhood type in the estimation model do not change values significantly. Publication bias tests are also performed and show that although researchers tend to report both positive and negative results, they tend to be biased towards statistically significant estimates.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 50 (2013)
Issue (Month): C ()
|Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/547/description#description|
|Order Information:|| Postal: http://www.elsevier.com/wps/find/supportfaq.cws_home/regional|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Doris Weichselbaumer & Rudolf Winter-Ebmer, 2005.
"A Meta-Analysis of the International Gender Wage Gap,"
Journal of Economic Surveys,
Wiley Blackwell, vol. 19(3), pages 479-511, July.
- Weichselbaumer, Doris & Winter-Ebmer, Rudolf, 2003. "A Meta-Analysis of the International Gender Wage Gap," IZA Discussion Papers 906, Institute for the Study of Labor (IZA).
- Weichselbaumer, Doris & Winter-Ebmer, Rudolf, 2003. "A Meta-Analysis of the International Gender Wage Gap," Economics Series 143, Institute for Advanced Studies.
- Doris Weichselbaumer & Rudolf Winter-Ebmer, 2003. "A meta-analysis of the international gender wage gap," Economics working papers 2003-11, Department of Economics, Johannes Kepler University Linz, Austria.
- Weichselbaumer, Doris & Winter-Ebmer, Rudolf, 2003. "A Meta-Analysis of the International Gender Wage Gap," CEPR Discussion Papers 4127, C.E.P.R. Discussion Papers.
- Bae, Chang-Hee Christine & Jun, Myung-Jin & Park, Hyeon, 2003. "The impact of Seoul's subway Line 5 on residential property values," Transport Policy, Elsevier, vol. 10(2), pages 85-94, April.
- Ghebreegziabiher Debrezion & Eric Pels & Piet Rietveld, 2007. "The Impact of Railway Stations on Residential and Commercial Property Value: A Meta-analysis," The Journal of Real Estate Finance and Economics, Springer, vol. 35(2), pages 161-180, August.
- Ghebreegziabiher Debrezion & Eric Pels & Piet Rietveld, 2004. "The Impact of Railway Stations on Residential and Commercial Property Value: a Meta Analysis," Tinbergen Institute Discussion Papers 04-023/3, Tinbergen Institute.
- Melo, Patricia C. & Graham, Daniel J. & Noland, Robert B., 2009. "A meta-analysis of estimates of urban agglomeration economies," Regional Science and Urban Economics, Elsevier, vol. 39(3), pages 332-342, May.
- Richard Voith, 1991. "Transportation, Sorting and House Values," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 19(2), pages 117-137.
- John D. Benjamin & G. Stacy Sirmans, 1996. "Mass Transportation, Apartment Rent and Property Values," Journal of Real Estate Research, American Real Estate Society, vol. 12(1), pages 1-8.
- Dean H. Gatzlaff & Marc T. Smith, 1993. "The Impact of the Miami Metrorail on the Value of Residences near Station Locations," Land Economics, University of Wisconsin Press, vol. 69(1), pages 54-66.
- Bowes, David R. & Ihlanfeldt, Keith R., 2001. "Identifying the Impacts of Rail Transit Stations on Residential Property Values," Journal of Urban Economics, Elsevier, vol. 50(1), pages 1-25, July.
- Claudio A. Agostini & Gastón A. Palmucci, 2008. "The Anticipated Capitalisation Effect of a New Metro Line on Housing Prices," Fiscal Studies, Institute for Fiscal Studies, vol. 29(2), pages 233-256, June. Full references (including those not matched with items on IDEAS)