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Transit-oriented developments and residential property values

Author

Listed:
  • Koen van Ruijven

    (CPB Netherlands Bureau for Economic Policy Analysis)

  • Paul Verstraten

    (CPB Netherlands Bureau for Economic Policy Analysis)

  • Peter Zwaneveld

    (CPB Netherlands Bureau for Economic Policy Analysis)

Abstract

As urbanization continues, congestion externalities are becoming more important due to an increasing utilization of the prevailing infrastructure. A growing number of cities have conducted transit-oriented developments to mitigate these congestion externalities. In this article, we analyze the effects of transit-oriented developments on residential property values As an extension to the standard hedonic pricing method, we employ the synthetic control method to estimate the value-added of transit-oriented developments. Three quantitative case studies in the Netherlands indicate that the effects of transit-oriented developments are highly heterogeneous. One case shows strong positive results. The other two are either insignificant, or temporarily negative.

Suggested Citation

  • Koen van Ruijven & Paul Verstraten & Peter Zwaneveld, 2019. "Transit-oriented developments and residential property values," CPB Discussion Paper 399, CPB Netherlands Bureau for Economic Policy Analysis.
    • Handle: RePEc:cpb:discus:399
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    References listed on IDEAS

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    Cited by:

    1. Forouhar, Amir, 2022. "Rail transit station and neighbourhood change: A mixed-method analysis with respect to neighbourhood context," Journal of Transport Geography, Elsevier, vol. 102(C).

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    More about this item

    JEL classification:

    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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