How far is the title of European Green Capital warranted? The effects of a sustainable transport policy on housing values in Nantes, France

Dorothée Brécard and Rémy Le Boennec

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Abstract: Urban transport plans in France (UTPs) aim to develop mobility for everyone and to find a balance between cars, public transport and other transport modes, this in order to favour sustainable mobility. In this article, the question of the utility derived from such policies is raised for the inhabitants of Nantes, which was designated the ‘European Green Capital' in 2013. We analyse the capitalization of various effects of urban transport policies in housing values. Using a hedonic price model, we show that housing values in Nantes are significantly determined by improved accessibility to the city centre. We highlight contrasting effects of UTPs on housing values depending on the location of apartments and on the mode of public transport. Households also internalize air and noise pollution generated by transportation, but they attach only a low value to pollution exposure.

Keywords: Hedonic pricing method; Housing price; Urban transport policies; Accessibility (search for similar items in EconPapers)
Date: 2015-06-22
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Published in 64th Annual meeting of the French Economic Association (AFSE), Jun 2015, Rennes, France

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01657153

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