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A New Central Station for a Unified City: Predicting Impact on Property Prices for Urban Railway Network Extensions in Berlin

  • Gabriel Ahlfeldt

    ()

    (Chair for Economic Policy, University of Hamburg)

This paper develops a framework for predicting impact of urban railway network extensions on property prices. Impact of market potential and access to employment is assessed within a hedonic model environment employing potentiality variables and highly disaggregated data. Based on empirical results, expected impact on property prices is assessed for proposed railway extensions connecting Berlin’s new central station to the existing metrorail and suburban railway network. Relying on simulated changes in population and employment potentialities, expected increase in aggregated land value is compared for residential and business properties. Application of highly disaggregated data allows detailed mapping of expected pattern of impacts.

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File URL: http://www.hced.uni-hamburg.de/WorkingPapers/HCED_13.pdf
File Function: First version, 2007
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Paper provided by Chair for Economic Policy, University of Hamburg in its series Working Papers with number 013.

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Length: 32 pages
Date of creation: 2007
Date of revision:
Publication status: Published in Hamburg Contemporary Economic Discussions, Issue 13, 2007
Handle: RePEc:hce:wpaper:013
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Phone: +49 (0)40 / 4123-1
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Web page: http://www.hced.uni-hamburg.de/

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  1. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  2. Arne Feddersen & Wolfgang Maennig, 2008. "Arenas vs. Multifunctional Stadia – Which Do Spectators Prefer?," Working Papers 0815, International Association of Sports Economists;North American Association of Sports Economists.
  3. Arne Feddersen & Wolfgang Maennig, 2005. "Trends in Competitive Balance: Is there Evidence for Growing Imbalance in Professional Sport Leagues?," Working Papers 0012005, Chair for Economic Policy, University of Hamburg.
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