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Unbundling curbside parking costs from housing prices

Author

Listed:
  • Ozan Bakis
  • Eren Inci
  • Rifat Ozan Senturk

Abstract

This article empirically shows that at least some of the costs of curbside parking spaces are capitalized in housing prices even though these parking spaces are not formally bundled with housing units. Making use of Istanbul’s transition from free and informal curbside parking to paid and formal, we find that housing prices decreased substantially in response to city operated curbside parking, whereas rents remained statistically the same or, at best, decreased only very slightly.

Suggested Citation

  • Ozan Bakis & Eren Inci & Rifat Ozan Senturk, 2019. "Unbundling curbside parking costs from housing prices," Journal of Economic Geography, Oxford University Press, vol. 19(1), pages 89-119.
    • Handle: RePEc:oup:jecgeo:v:19:y:2019:i:1:p:89-119.
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    File URL: http://hdl.handle.net/10.1093/jeg/lby003
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    Citations

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    Cited by:

    1. Eren Inci & Jos van Ommeren & Martijn Kobus, 2017. "The external cruising costs of parking," Journal of Economic Geography, Oxford University Press, vol. 17(6), pages 1301-1323.
    2. Gössling, Stefan & Humpe, Andreas & Hologa, Rafael & Riach, Nils & Freytag, Tim, 2022. "Parking violations as an economic gamble for public space," Transport Policy, Elsevier, vol. 116(C), pages 248-257.
    3. Wan, Yulai & Ha, Hun-Koo & Yoshida, Yuichiro & Zhang, Anming, 2016. "Airlines’ reaction to high-speed rail entries: Empirical study of the Northeast Asian market," Transportation Research Part A: Policy and Practice, Elsevier, vol. 94(C), pages 532-557.
    4. Bondemark, Anders & Merkel, Axel, 2023. "Parking not included: The effect of paid residential parking on housing prices and its relationship with public transport proximity," Regional Science and Urban Economics, Elsevier, vol. 99(C).
    5. Brudner, Amir, 2023. "On the management of residential on-street parking: Policies and repercussions," Transport Policy, Elsevier, vol. 138(C), pages 94-107.
    6. Olus Inan, Murat & Inci, Eren & Robin Lindsey, C., 2019. "Spillover parking," Transportation Research Part B: Methodological, Elsevier, vol. 125(C), pages 197-228.

    More about this item

    Keywords

    Parking; housing prices; rents;
    All these keywords.

    JEL classification:

    • L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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