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

Author

Listed:
  • Gabriel Ahlfeldt

    () (Chair for Economic Policy, University of Hamburg)

Abstract

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.

Suggested Citation

  • Gabriel Ahlfeldt, 2007. "A New Central Station for a Unified City: Predicting Impact on Property Prices for Urban Railway Network Extensions in Berlin," Working Papers 013, Chair for Economic Policy, University of Hamburg.
  • Handle: RePEc:hce:wpaper:013
    as

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    File URL: http://www.hced.uni-hamburg.de/WorkingPapers/HCED_13.pdf
    File Function: First version, 2007
    Download Restriction: no

    References listed on IDEAS

    as
    1. 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.
    2. 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..
    3. Arne Feddersen & Wolfgang Maennig, 2007. "Arenas vs. Multifunctional Stadia – Which Do Spectators Prefer?," Working Papers 014, Chair for Economic Policy, University of Hamburg.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Wolfgang Maennig, 2017. "Public Referenda and Public Opinion on Olympic Games," Working Papers 057, Chair for Economic Policy, University of Hamburg.
    2. Franziska K. Kruse & Wolfgang Maennig, 2017. "The future development of world records," Working Papers 061, Chair for Economic Policy, University of Hamburg.
    3. Falch, Torberg & Fischer, Justina A.V., 2012. "Public sector decentralization and school performance: International evidence," Economics Letters, Elsevier, vol. 114(3), pages 276-279.
    4. Wolfgang Maennig, 2017. "Governance in Sports Organizations," Working Papers 060, Chair for Economic Policy, University of Hamburg.
    5. Gabriel M. Ahlfeldt & Wolfgang Maennig & Felix J. Richter, 2017. "Zoning in reunified Berlin," Working Papers 059, Chair for Economic Policy, University of Hamburg.
    6. Wolfgang Maennig, 2017. "Major Sports Events: Economic Impact," Working Papers 058, Chair for Economic Policy, University of Hamburg.

    More about this item

    Keywords

    Urban Transport; Market Access; Employment Access; Land Values; Polycentric City; Berlin;

    JEL classification:

    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning
    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations

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