Transit-oriented developments and residential property values

Koen van Ruijven (), Paul Verstraten () and Peter Zwaneveld ()
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Koen van Ruijven: CPB Netherlands Bureau for Economic Policy Analysis
Paul Verstraten: CPB Netherlands Bureau for Economic Policy Analysis
Peter Zwaneveld: CPB Netherlands Bureau for Economic Policy Analysis

No 399, CPB Discussion Paper from CPB Netherlands Bureau for Economic Policy Analysis

Abstract: As urbanization continues, congestion externalities are becoming more important due to an increasing utilization of the prevailing infrastructure. A growing number of cities have conducted transit-oriented developments to mitigate these congestion externalities. In this article, we analyze the effects of transit-oriented developments on residential property values As an extension to the standard hedonic pricing method, we employ the synthetic control method to estimate the value-added of transit-oriented developments. Three quantitative case studies in the Netherlands indicate that the effects of transit-oriented developments are highly heterogeneous. One case shows strong positive results. The other two are either insignificant, or temporarily negative.

JEL-codes: R38 R58 (search for similar items in EconPapers)
Date: 2019-05
New Economics Papers: this item is included in nep-eur, nep-tre and nep-ure
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:cpb:discus:399

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