Investigating the effect of train proximity on apartment prices: Haifa, Israel as a case study

Boris A. Portnov, Bella Genkin, Boaz Barzilay

Research output: Contribution to journalArticlepeer-review

Abstract

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.

Original languageEnglish
Pages (from-to)371-395
Number of pages25
JournalJournal of Real Estate Research
Volume31
Issue number4
StatePublished - 2009

ASJC Scopus subject areas

  • Economics, Econometrics and Finance (miscellaneous)

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