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Author: Ghebreegziabiher Debrezion
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Railway stations function as nodes in transport networks and places in an urban environment. They have accessibility and environmental impacts, which contribute to property value. The literature on the effects of railway stations on property value is mixed in its finding in respect to impact magnitude and direction, ranging from a negative to an insignificant or a positive impact. This paper attempts to explain the variation in the findings by meta-analytical procedures. Generally the variations are attributed to the nature of data, particular spatial characteristics, temporal effects and methodology. Railway station proximity is addressed from two spatial considerations: a local station effect measuring the effect for properties within 1/4 mile range and a global station effect measuring the effect of coming 250 meters closer to the station. We find that the effect of railway stations on commercial property value mainly takes place at short distances. Commercial properties within 1/4 mile range are 12.2% more expensive than residential properties. Where the price gap between the railway station zone and the rest is about 4.2% for the average residence, it is about 16.4% for the average commercial property. At longer distances the effect on residential property values dominate. We find that for every 250 meters a residence is located closer to a station its price is 2.3% higher than commercial properties. Commuter railway stations have a consistently higher positive impact on the property value compared to lights and heavy railway/Metro stations. The inclusion of other accessibility variables (such as highways) in the models reduces the level of reported railway station impact.
Author: Ghebreegziabiher Debrezion
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Railway stations function as nodes in transport networks and places in an urban environment. They have accessibility and environmental impacts, which contribute to property value. The literature on the effects of railway stations on property value is mixed in its finding in respect to impact magnitude and direction, ranging from a negative to an insignificant or a positive impact. This paper attempts to explain the variation in the findings by meta-analytical procedures. Generally the variations are attributed to the nature of data, particular spatial characteristics, temporal effects and methodology. Railway station proximity is addressed from two spatial considerations: a local station effect measuring the effect for properties within 1/4 mile range and a global station effect measuring the effect of coming 250 meters closer to the station. We find that the effect of railway stations on commercial property value mainly takes place at short distances. Commercial properties within 1/4 mile range are 12.2% more expensive than residential properties. Where the price gap between the railway station zone and the rest is about 4.2% for the average residence, it is about 16.4% for the average commercial property. At longer distances the effect on residential property values dominate. We find that for every 250 meters a residence is located closer to a station its price is 2.3% higher than commercial properties. Commuter railway stations have a consistently higher positive impact on the property value compared to lights and heavy railway/Metro stations. The inclusion of other accessibility variables (such as highways) in the models reduces the level of reported railway station impact.
Author: Sabrina Putri Winarko
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
However, when the data is put into the GWR model, the results have shown that the impact is not spatially consistent throughout the study area. In fact, it varies significantly, ranging from a decrease of $9.70 to an increase of $22.31, which indicates that not all commercial properties within the study area are negatively impacted when located within a mile of a train station, as the global model have indicated. And thus, GWR is proven to be a better method in estimating the impact of train stations on commercial property values. With GWR model results, the increments in commercial property values surrounding the station can be used by developers and urban planners to decide whether doing a TJD in a certain location will be feasible for both parties.
Author: Francesca Pagliara
Publisher: Springer Nature
ISBN: 3031536843
Category :
Languages : en
Pages : 484
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Book Description
Author: Yingfei Huang
Publisher:
ISBN:
Category :
Languages : en
Pages : 85
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Book Description
Property values. However, GWR revealed that this impact varies significantly throughout the geographic study area. Metro stations in the north are associated with decreasing commercial property values, while those in the south are associated with increasing commercial property values. The increase in value for some properties if situated even one mile closer to some metro stations could be as high as $22 per square feet. With a mutual recognition of this property value increment, public-private partnerships between the rail transit agency and commercial developers could be built to achieve a win-win situation. On the contrary, incentives such as density bonus or favorable rates should be given to business owners if commercial development has to be encouraged in an area where construction of rail transit is associated with decreasing property values. When investigating the relationship between accessibility to rail transit and commercial property values, GWR is a more suitable model than OLS to support decision-making processes that fully utilize value capture potentials of metro stations.
Author: Linchuan Yang
Publisher: Springer Nature
ISBN: 9811688338
Category : Social Science
Languages : en
Pages : 188
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Book Description
This book seeks to shed light on the role of environment-friendly transport accessibility in determining property prices in Chinese cities. Many environment-friendly transport modes, including walking, metro, bus rapid transit (BRT), and bus are examined. Spatial econometric models, quantile regression models, and machine learning techniques are used. This book contributes to people's understanding of the relationship between environmental-friendly transport accessibility and property prices. Moreover, it is of value to policymakers, including (1) informing urban planners/designers to plan/design cities with an adequate level of environment-friendly transport accessibility; (2) offering an evidence-based approach to implementing value capture schemes for financing investments in urban infrastructure; and (3) providing the basis for mitigating the negative externality of proximity to the transit corridor, jointly constructing comprehensive hospitals and other compatible amenities, and so forth.
Author: Frank Bruinsma
Publisher: Springer Science & Business Media
ISBN: 3790819727
Category : Business & Economics
Languages : en
Pages : 409
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Book Description
The role of railways in urban development is the subject of this book. The central aim is to inquire into how especially the development of high-speed rail and light rail links will affect European cities. The analyses are carried out with special attention given to the broader institutional environment of the railway system, including the shift toward privatised railway companies and internationalisation.
Author: Hiroaki Suzuki
Publisher: World Bank Publications
ISBN: 1464801509
Category : Business & Economics
Languages : en
Pages : 267
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Book Description
This book provides cities with strategies and methodologies for applying land value capture financing schemes for capital-intensive transit and transit-related investments, based on the successful experiences of Mass Transit Railway Corporation in Hong Kong SAR, China, and Japanese railway companies in Tokyo metropolitan areas.
Author: Lesley Takunda Mashiri
Publisher:
ISBN:
Category : Transit-oriented development
Languages : en
Pages : 180
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Book Description
Author: Piet Rietveld
Publisher: Springer Science & Business Media
ISBN: 3642722326
Category : Political Science
Languages : en
Pages : 391
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Book Description
When in 1989 the authors started research on infrastructure, they did not foresee that this would lead to a long-term involvement in this area. Our beginning happened to coincide with the publication of David Aschauer's article on public capital and productivity, which induced a large flow of publications in this field. Infrastructure has indeed been a hot topic in policy and research during the past decade. It is surprising, however, that the number of monographs on spatial and economic impacts of infrastructure has remained very limited. The aim of this book is to contribute to the literature in a consolidated way. A distinguishing feature of our book is that we analyze infrastructure impacts using various methods (both modelling and non-modelling) at a variety of spatial levels (from local to international). Other special features are that we make ample use of 'accessibility' as a bridge concept between the areas of infrastructure and the economy. Finally, we not only treat transport infrastructure projects as given, as is the usual approach in infrastructure impact research, but we also analyze the factors influencing infrastructure supply. We have adopted a mainly non-technical approach throughout most of the book. This means that it can also be used by readers without a strong back ground in statistics, modelling or micro-economics.
Author: Management Association, Information Resources
Publisher: IGI Global
ISBN: 1799809498
Category : Technology & Engineering
Languages : en
Pages : 1044
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Book Description
The continued growth of any nation depends largely on the development of their built infrastructures and communities. By creating stable infrastructures, countries can more easily thrive in competitive international markets. Sustainable Infrastructure: Breakthroughs in Research and Practice examines sustainable development through the lens of transportation, waste management, land use planning, and governance. Highlighting a range of topics such as sustainable development, transportation planning, and regional and urban infrastructure planning, this publication is an ideal reference source for engineers, planners, government officials, developers, policymakers, legislators, researchers, academicians, and graduate-level students seeking current research on the latest trends in sustainable infrastructure.
