EconPapers    
Economics at your fingertips  
 

The Effect of International Airports on Commercial Property Values: Case Studies of Toronto, Ontario, Canada and Vancouver, BC, Canada

Jeffrey Cohen () and Mike Brown

A chapter in The Economics of Airport Operations, 2017, vol. 6, pp 313-333 from Emerald Publishing Ltd

Abstract: Abstract Airports are the portals where international air transport networks, which are increasingly important in a globalized, services-oriented economy, intersect with regional and metropolitan ground transportation networks. Our hypothesis is that, at this nexus, the degree of international connectivity at an airport and distance from the airport manifests itself in the value of commercial properties. As such airports are shaping the urban form around them and highlight the importance of integrated metropolitan and airport planning. Looking at Canada’s two largest international airports at Toronto, Ontario and Vancouver, BC, and controlling for other factors, we see evidence that commercial properties decrease in value as distance to the airport increases and increase in value as the range of international frequencies and destinations available at the airport increase. We introduce a new concept of land-use at and around airports of “aviation-dependent” which would include hotels and corporate head offices, in addition to the traditional “aviation-related” and “aviation-compatible” uses. We see the effects of distance and connectivity are particularly pronounced on commercial properties occupied by aviation-dependent uses.

Keywords: Airports; commercial property values; R3; R4 (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.emeraldinsight.com/10.1108/S2212-160920 ... RePEc&WT.mc_id=RePEc (text/html)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:aiaezz:s2212-160920170000006012

Ordering information: This item can be ordered from
Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
http://www.emeraldgr ... ies.htm?id=2212-1609

Access Statistics for this chapter

More chapters in Advances in Airline Economics from Emerald Publishing Ltd
Bibliographic data for series maintained by Charlotte Maiorana ().

 
Page updated 2022-01-17
Handle: RePEc:eme:aiaezz:s2212-160920170000006012