House prices and accessibility: Evidence from a natural experiment in transport infrastructure

Sander Hoogendoorn (), Joost van Gemeren, Paul Verstraten () and Kees Folmer
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Sander Hoogendoorn: CPB Netherlands Bureau for Economic Policy Analysis
Paul Verstraten: CPB Netherlands Bureau for Economic Policy Analysis

No 322, CPB Discussion Paper from CPB Netherlands Bureau for Economic Policy Analysis

Abstract: This paper studies the impact of accessibility on house prices, based on a natural experiment in the Netherlands: the Westerscheldetunnel. We exploit the fact that the opening of the tunnel caused a substantial shift in accessibility for people and firms in the connected regions. Our results indicate that the elasticity between house prices and accessibility is equal to 0.8. We also find support for the idea of anticipation: about half of the accessibility effect already materializes more than one year before the opening of the tunnel. Moreover, our analyses suggest that the impact of accessibility differs across regions.

JEL-codes: R2 R4 (search for similar items in EconPapers)
Date: 2016-01
New Economics Papers: this item is included in nep-tre and nep-ure
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:cpb:discus:322

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