The impact of Bus Rapid Transit (BRT) on land and property values: A meta-analysis

Min Zhang and Barbara T.H. Yen

Land Use Policy, 2020, vol. 96, issue C

Abstract: Throughout the world, Bus Rapid Transit (BRT) has become a popular transit solution for cities wanting to improve urban mobility and economic opportunities through land and property value uplift (LVU). However, the relevant literature reports a mixed impact of BRT on land and property values. This research aims to explain the variation in impacts by conducting a meta-analysis of 23 empirical studies which have estimated the amount of LVU that is attributable to BRT. Using a random-effects model, four categories of factors that may influence estimates of BRT impacts are analysed: BRT system characteristics; land type and accessibility; research methods; and the spatial and temporal characteristics of the case study. Several factors were found to have a statistically significant impact on estimated LVU impacts from BRT systems including maturity of the BRT system; property or land; type of value (asking price, assessed price or sales price); the distance to BRT stations; the research method; and the geographical location of the BRT system. Using the quantifiability advantages of meta-analysis techniques, we further conducted a broad comparison between our results and the findings from one previous meta-analysis study on Rail-Based Transit (RBT), and discussed how the LVU impact differs between BRT and RBT. The findings from this research suggest several key recommendations for future studies into the impact of BRT on land and property values. They also inform policy analyses on transit funding through land and property value gains.

Keywords: Bus Rapid Transit; land value uplift; value capture; meta-analysis; random effects model (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:lauspo:v:96:y:2020:i:c:s0264837718305830

DOI: 10.1016/j.landusepol.2020.104684

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