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The train has left the station: Do markets value intra-city access to inter-city rail connections?

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  • Ahlfeldt, Gabriel M.

Abstract

This paper analyzes the impact of access to inter-city rail connections on property prices using hedonic, difference-in-difference and time-difference estimation strategies. We investigate the reorganization of the rail system in post-unification Berlin, Germany, which provides much variation in accessibility. Evidence does not support the existence of localized effects. Neither in proximity to stations nor at city-level are there significant price adjustments. No significant price effect is revealed on distance to stations, even when allowing for a complementary relationship. An increase in the attractiveness of central locations coinciding with the final announcement of the train schedule is not attributable to the intervention.

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  • Ahlfeldt, Gabriel M., 2009. "The train has left the station: Do markets value intra-city access to inter-city rail connections?," MPRA Paper 13900, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:13900
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    Cited by:

    1. Antonio Estache, 2010. "A survey of impact evaluations of infrastructure projects, programs and policies," Working Papers ECARES 2010_005, ULB -- Universite Libre de Bruxelles.
    2. Gabriel M. Ahlfeldt & Georgios Kavetsos, 2014. "Form or function?: the effect of new sports stadia on property prices in London," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 177(1), pages 169-190, January.
    3. Gabriel M Ahlfeldt, 2013. "If We Build it, Will They Pay? Predicting Property Price Effects of Transport Innovations," Environment and Planning A, , vol. 45(8), pages 1977-1994, August.
    4. Li, Chunying & Zhang, Jinning & Lyu, Yanwei, 2022. "Does the opening of China railway express promote urban total factor productivity? New evidence based on SDID and SDDD model," Socio-Economic Planning Sciences, Elsevier, vol. 80(C).
    5. Felix Richter, 2014. "Winner Picking in Urban Revitalization Policies: Empirical Evidence from Berlin," ERSA conference papers ersa14p1424, European Regional Science Association.
    6. Gabriel M. Ahlfeldt & Wolfgang Maennig, 2011. "Homeownership and NIMBYism: A Spatial Analysis of Airport Effects," SERC Discussion Papers 0085, Centre for Economic Performance, LSE.
    7. Ahlfeldt, Gabriel M. & Georgios, Kavetsos, 2010. "Form or Function? The Impact of New Football Stadia on Property Prices in London," MPRA Paper 25003, University Library of Munich, Germany.
    8. Martijn Smit, 2017. "Following Your Job," Papers in Evolutionary Economic Geography (PEEG) 1718, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Jul 2017.
    9. Claudia N. Berg & Uwe Deichmann & Yishen Liu & Harris Selod, 2017. "Transport Policies and Development," Journal of Development Studies, Taylor & Francis Journals, vol. 53(4), pages 465-480, April.
    10. Qiao Wang & Xiuyan Liu & Fan Zhang & Tao Hu, 2022. "Subways and the Diffusion of Knowledge: Evidence from China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 30(4), pages 60-99, July.
    11. Cohen, Jeffrey P. & Schaffner, Sandra, 2019. "A new highway in Germany and the impacts on real estate prices," Ruhr Economic Papers 821, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.

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    More about this item

    Keywords

    Property prices; transport innovation; inter-city connection; railroad; Berlin;
    All these keywords.

    JEL classification:

    • R0 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General

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