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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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File URL: https://mpra.ub.uni-muenchen.de/13900/1/MPRA_paper_13900.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 13900.

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Date of creation: 09 Mar 2009
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Handle: RePEc:pra:mprapa:13900
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Keywords: Property prices; transport innovation; inter-city connection; railroad; Berlin;

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

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Cited by:

  1. Gabriel Ahlfeldt, 2011. "If We Build, Will They Pay? Predicting Property Price Effects of Transport Innovations," SERC Discussion Papers 0075, Spatial Economics Research Centre, LSE.
  2. Gabriel M. Ahlfeldt & Wolfgang Maennig, 2011. "Homeownership and NIMBYism: A Spatial Analysis of Airport Effects," SERC Discussion Papers 0085, Spatial Economics Research Centre, LSE.
  3. 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.
  4. Felix Richter, 2014. "Winner Picking in Urban Revitalization Policies: Empirical Evidence from Berlin," ERSA conference papers ersa14p1424, European Regional Science Association.
  5. Berg,Claudia N. & Deichmann,Uwe & Liu,Yishen & Selod,Harris, 2015. "Transport policies and development," Policy Research Working Paper Series 7366, The World Bank.
  6. Gabriel M. Ahlfeldt, 2013. "If we build it, will they pay? Predicting property price effects of transport innovations," LSE Research Online Documents on Economics 47131, London School of Economics and Political Science, LSE Library.
  7. 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, 01.
  8. Antonio Estache, 2010. "A survey of impact evaluations of infrastructure projects, programs and policies," Working Papers ECARES 2010_005, ULB -- Universite Libre de Bruxelles.

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