Does Planning Matter? Effects on Land Markets

Wenjie Wu (), Guanpeng Dong () and Bing Wang ()
Authors registered in the RePEc Author Service: 武文杰

The Journal of Real Estate Finance and Economics, 2015, vol. 50, issue 2, 242-269

Abstract: This paper uses a spatial multi-intervention difference-in-difference method to examine the opening and planning impacts of transport improvements on land markets in a mega-city of China. The results suggest the significant heterogeneity in the capitalization effects from changes in rail access on prices for different land uses in affected areas versus unaffected areas. Residential and commercial land parcels receiving increased station proximity experience appreciable price premiums. However, such effects vary widely over space. These results add to the evidence that public investments have an important role to play in spurring the spatially targeted land market. Copyright Springer Science+Business Media New York 2015

Keywords: Land markets; Transport infrastructure; China; H41; Q51; R41 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (4)

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DOI: 10.1007/s11146-014-9455-2

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