How does subway and ground transit proximity affect rental prices?

Konstantin Kholodilin () and Mariia Maksimova ()
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Mariia Maksimova: National Research University Higher School of Economics

HSE Working papers from National Research University Higher School of Economics

Abstract: This study focuses on the ground transportation system and its impact on the rents in 30 of Russia’s largest cities. It also compares the effect with subway transit networks. The data set includes rent information from an all-Russia online advertisement website Avito and various measures of proximity to the public transit network stops (including subways for cities with them). The analysis is conducted using linear hedonic models. The results show that the ground transportation proximity is important for housing rent formation in both cities with and without subways, although the effect for subway stations is greater in comparison. Nevertheless, the benefits of a denser ground transportation system are high and stable, whereas the distance to the closest bus stop and the number within the walking distance are important solely for cities with a subway system and without it, respectively.

Keywords: housing rent; public transit; subway; hedonic analysis; largest Russian cities. (search for similar items in EconPapers)
JEL-codes: C43 O18 R38 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2019
New Economics Papers: this item is included in nep-cis, nep-ict, nep-tre and nep-ure
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Published in WP BRP Series: Economics / EC, February 2019, pages 1-25

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Persistent link: https://EconPapers.repec.org/RePEc:hig:wpaper:212/ec/2019

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