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 ()
|Contact details of provider:|| Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323|
Web page: http://www.aresnet.org/
|Order Information:|| Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323|
Web: http://pages.jh.edu/jrer/about/get.htm Email:
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.:
- Voith Richard, 1993.
"Changing Capitalization of CBD-Oriented Transportation Systems: Evidence from Philadelphia, 1970-1988,"
Journal of Urban Economics,
Elsevier, vol. 33(3), pages 361-376, May.
- Richard Voith, 1991. "Changing capitalization of CBD-oriented transportation systems: evidence from Philadelphia, 1970-1988," Working Papers 91-19, Federal Reserve Bank of Philadelphia.
- FranÃ§ois Des Rosiers & Marius ThÃ©riault & Yan Kestens & Paul Villeneuve, 2002. "Landscaping and House Values: An Empirical Investigation," Journal of Real Estate Research, American Real Estate Society, vol. 23(1/2), pages 139-162.
- Paul K. Asabere & Forrest E. Huffman, 1996. "Thoroughfares and Apartment Values," Journal of Real Estate Research, American Real Estate Society, vol. 12(1), pages 9-16.
- Wang, Ko & Grissom, Terry V. & Webb, James R. & Spellman, Lewis, 1991. "The impact of rental properties on the value of single-family residences," Journal of Urban Economics, Elsevier, vol. 30(2), pages 152-166, September.
- Su Han Chan & Shin-Hering Michelle Chu & George H. Lentz & Ko Wang, 1998. "Intra-Project Externality and Layout Variables in Residential Condominium Appraisals," Journal of Real Estate Research, American Real Estate Society, vol. 15(2), pages 131-146.
- Chengri Ding & Robert Simons & Esmail Baku, 2000. "The Effect of Residential Investment on Nearby Property Values: Evidence from Cleveland, Ohio," Journal of Real Estate Research, American Real Estate Society, vol. 19(1), pages 23-48.
- 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. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:31:n:4:2009:p:371-396. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (JRER Graduate Assistant/Webmaster)
If references are entirely missing, you can add them using this form.