The train has left the station: Do markets value intra-city access to inter-city rail connections?

Gabriel M. Ahlfeldt

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Property prices; transport innovation; inter-city connection; railroad; Berlin (search for similar items in EconPapers)
JEL-codes: R0 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ure
Date: 2009-03-09
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Persistent link: http://EconPapers.repec.org/RePEc:pra:mprapa:13900

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