Investigating the Effect of Train Proximity on Apartment Prices: Haifa, Israel as a Case Study
The present study investigates the effect of urban rail on the market prices of residential properties, considering train proximity as both a source of improved access and a local disamenity. For the analysis, 926 housing sales in the city of Haifa, Israel were used. The analysis indicates a relatively narrow buffer zone near train tracks (about 50â€“100-meters wide) that â€˜â€˜absorbsâ€™â€™ about 13% of price decline. Beyond this zone, apartment prices rise to their â€˜â€˜peaksâ€™â€™ at approximately 100â€“150 meters from the train tracks, and then decline by an average of 0.7% for each additional 100-meter increase in the train line distance.
Volume (Year): 31 (2009)
Issue (Month): 4 ()
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