The impact of regional commuter trains on property values : price segments and income

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The impact of regional commuter trains on property values : price segments and income

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Publication Article, peer reviewed scientific
Title The impact of regional commuter trains on property values : price segments and income
Author Bohman, Helena ; Nilsson, Désirée
Date 2016
English abstract
Using single-family home transactions and commuter rail data from 2014, we estimate hedonic price models using two-stage spatial quantile regression to capture variations across price segments. The results are significant and robust across different model specifications and across the different price segments, but the price effect of proximity to a commuter train station is strongest in lower price segments of the housing market. These price segment effects are also valid for proximity to highways, as well as for several other property attributes. Results also reveal that the largest of the three regional labour markets in our study has a greater effect on prices. Furthermore, the study introduces property-specific neighbourhood data from raster data, showing that population density has a negative impact on property prices at the neighbourhood level while population size has a positive impact at the municipal level.
DOI https://doi.org/10.1016/j.jtrangeo.2016.09.003 (link to publisher's fulltext.)
Link http://dx.doi.org/10.1016/j.jtrangeo.2016.09.003 .Icon
Publisher Elsevier
Host/Issue Journal of Transport Geography;
Volume 56
ISSN 0966-6923
Pages 102–109
Language eng (iso)
Subject Hedonic price function
Price segment
Commuter railway
Spatial lag
Two-stage quantile regression
Humanities/Social Sciences
Research Subject Categories::SOCIAL SCIENCES
Handle http://hdl.handle.net/2043/21865 Permalink to this page
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