Investigating the Effect of Train Proximity on Apartment Prices: Haifa, Israel as a Case Study

Boris A. Portnov (), Bella Genkin () and Boaz Barzilay ()
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Boris A. Portnov: University of Haifa, Mount Carmel
Bella Genkin: University of Haifa, Mount Carmel
Boaz Barzilay: University of Haifa, Mount Carmel

Journal of Real Estate Research, 2009, vol. 31, issue 4, 371-396

Abstract: The present study investigates the effect of urban rail on the market prices of residential properties, considering train proximity as both a source of improved access and a local disamenity. For the analysis, 926 housing sales in the city of Haifa, Israel were used. The analysis indicates a relatively narrow buffer zone near train tracks (about 50–100-meters wide) that ‘‘absorbs’’ about 13% of price decline. Beyond this zone, apartment prices rise to their ‘‘peaks’’ at approximately 100–150 meters from the train tracks, and then decline by an average of 0.7% for each additional 100-meter increase in the train line distance.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (3)

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