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.
|Number of pages||25|
|Journal||Journal of Real Estate Research|
|State||Published - 2009|
ASJC Scopus subject areas
- Economics, Econometrics and Finance (miscellaneous)