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Rail-transit and real estate values in a polycentric city: A theoretic simulation approach

In: Railway Development

Author

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  • Daniel Gat

    (Center for Urban and Regional Studies)

Abstract

The purpose of this chapter is to provide a microeconomic framework for tracing the impact of urban rail transit on the residential real estate market. It presents an urban polycentric model that is quite simple, yet it is complex enough to handle automobile traffic congestion as well as transit and park-and-ride. The model is derived from a long line of microeconomic monocentric urban models. The model is estimable, but not empirically estimated here; instead, it is run as a spreadsheet simulation with artificial parameter values. Results are computed and shown graphically and geographically; they support the claim that transit introduction is likely to raise real estate values, but are conditional with regard to instigating inner city redevelopment.

Suggested Citation

  • Daniel Gat, 2008. "Rail-transit and real estate values in a polycentric city: A theoretic simulation approach," Springer Books, in: Frank Bruinsma & Eric Pels & Piet Rietveld & Hugo Priemus & Bert Wee (ed.), Railway Development, chapter 17, pages 359-383, Springer.
    • Handle: RePEc:spr:sprchp:978-3-7908-1972-4_17
    DOI: 10.1007/978-3-7908-1972-4_17
    as

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