Redistributive effects of bus rapid transit (BRT) on development patterns and property values in Seoul, Korea

This study investigates the redistributive effects of Seoul's bus rapid transit (BRT) system on development patterns and property values using an urban simulation model. The Seoul Metropolitan Integrated Urban Model (SMIUM) combines the Seoul metropolitan input-output model with random utility-based location choice models and endogenous real estate markets.The major findings of this study can be highlighted as follows. First, Seoul's BRT contributes to increased development density in urban centers, acting as a centripetal force to attract firms from the suburbs into urban cores and supporting arguments for Smart Growth proponents. Second, unlike its redistributive effects on nonresidential activities, the BRT has a limited effect on the redistribution of residential activities, implying that residential locations are less sensitive to accessibility improvements made by the BRT than are nonresidential locations. Third, reflecting the transferred space demands from the suburbs to the urban cores, the CBD reaps the highest property value gains, while all of the outer ring zones suffer from reduced property values.     

Accessibility and proximity effects of bus rapid transit on housing prices: Heterogeneity across price quantiles and space

Bus rapid transit (BRT) systems have mushroomed worldwide in the last few decades. An enriched understanding of BRT capitalization effects is essential. Although the BRT accessibility effect on housing prices has been extensively explored, the effect of proximity to the BRT corridor (which may be related to unattractive landscape and noise pollution) has been little scrutinized. More importantly, whether and how the two effects vary across price levels and space have yet to be sufficiently studied. To this end, we estimate the effect of BRT accessibility and proximity on housing prices by applying a battery of econometric methods (including hedonic pricing models, spatial regression models, quantile regression models, and a geographically weighted regression model) to 5185 observations in the housing market in Xiamen Island, China. The results of this study are: (1) BRT accessibility premiums and proximity penalties simultaneously exist in the housing market; (2) buyers of high-priced housing have a greater willingness to pay for avoiding the nuisances attributed to proximity to the BRT corridor; (3) the effect of BRT on housing prices is spatially heterogeneous; (4) the BRT accessibility effect is larger in suburban areas than in urban areas; and (5) housing prices are more predictable near the city centers than outside the area, which may be because a greater proportion of the price of a house near the city centers is derived from the location (rather than the building structure). Finally, policy implications (e.g., building acoustic barriers and planting vegetation along the BRT corridor and improving the transit service in suburban areas) are discussed.     

Impact of bus rapid transit on housing price and accessibility changes in Sydney: A repeat sales approach

ABSTRACT

New public transport infrastructure is expected to improve accessibility for local residents, and thus contribute to increased land value. The contribution that a bus rapid transit (BRT) system can make to increased land value is less certain than for rail-based systems, with the literature mostly containing bus-based examples from developing countries with extensive BRT networks. This article considers a BRT system named the Liverpool–Parramatta Transitway (LPT) that was implemented in southwestern Sydney in 2003 to improve public transport accessibility in the local area. A repeat sales model is constructed to investigate the impact of the LPT on residential housing prices and accessibility changes using repeat sales data from before and after the opening of the LPT. This identified little price difference between properties close to LPT stations and outside of the area that could be considered as affected by the LPT service coverage. This outcome is at variance with the theoretical underpinning of land value uplift and other empirical evidence relating to the LPT. Hedonic models using the same repeat sales data investigate the study area in more detail, stratifying the sample by housing type and by comparing separate before and after models. These research outcomes identify the extent to which the BRT system has an impact on local housing prices through accessibility improvements to the study area and provide a deeper understanding as to how the quantification of land value uplift from BRT represents one element of the wider economic benefits of a BRT system.     

Residential property value impacts of proximity to transport infrastructure: An investigation of bus rapid transit and heavy rail networks in Brisbane,Australia

Public transport investment is normally targeted at increasing accessibility which land rent theory identifies and will in turn increase land values. There is a clear policy interest in how much land values increase following a new transport investment so as to establish if there is sufficient land value uplift to capture and to help pay or contribute to investment plans. Identifying an uplift for residential land has been well studied in the context of new light rail systems and bus rapid transit (BRT) systems in developing countries but there is little evidence for BRT in developed countries.This paper has two objectives. First, to examine long term impact of BRT in a developed world context in Brisbane, Australia. Brisbane's BRT uses an open system design which contrasts with the closed system design of the successful BRT systems in South America and elsewhere, including the BRT in the suburbs of Sydney, Australia. Second, BRT in Brisbane was introduced to a network already dominated by a radial heavy rail network and this investigation recognises that the uplift from BRT introduction may therefore be different to a BRT in a single mode city. A third motivation is to consider the spatial distribution of uplift which is an essential pre-requisite to understanding the distributional impact if uplift is used to contribute to infrastructure provision.Spatial modelling is used to examine the accessibility impacts of the BRT at a global level. This is followed by Geographical Weighted Regression, used to examine the spatial distribution of accessibility using a local model.The results show that there is greater uplift in Brisbane, as compared to that identified by studies of Sydney's BRT which is likely due to the greater network coverage of BRT in Brisbane and less strong competition of rail. Land value uplift is also spatially distributed over the network giving higher uplift in some areas than others and lower values than typically found with rail based systems in developed countries. However, the degree of uplift is relatively low, with proximity to BRT stations attracting more uplift than proximity to train stations.     

Street markets as tourist attractions—Victoria Market,Auckland, New Zealand

The paper reports findings from a qualitative study of 25 respondents visiting Victoria Market, New Zealand as to their motives for visiting a market, and their perceptions of this specific market. Open‐ended questioning based on semi‐structured conversation created data analysed using the neural network program CATPAC. The findings note three forms of shopping, the role of cultural components in the market and an appreciation of the market's colourful ambience. However, visitors from Europe still tended to look for value for money when buying objects and had concerns over perceived ‘authenticity’ while Asian shoppers tended to value more the overall ambience. Copyright © 2007 John Wiley & Sons, Ltd.     

Exploring the effectiveness of bus rapid transit a prototype agent-based model of commuting behavior

The introduction of Bus Rapid Transit (BRT), typically involving the use of exclusive bus lanes and related bus priority measures, is increasingly advocated as a flexible and cost-effective way of improving the attractiveness of public transit in congested urban areas by reducing travel times and variability. These schemes typically involve the reallocation of road space for exclusive use by buses, presenting commuters with potentially competing incentives: buses on BRT routes can run faster and more efficiently than buses running in general traffic, potentially attracting commuters to public transit and reducing congestion through modal shift from cars. However, a secondary impact may also exist; remaining car users may be presented with less congested road space, improving their journey times and simultaneously acting as an incentive for some bus-users to revert to the car. To investigate the potential for these primary and secondary impacts, we develop a prototype agent-based model to investigate the nature of these interactions and how they play out into system-wide patterns of modal share and travel times. The model allows us to test the effects of multiple assumptions about the behaviors of individual agents as they respond to different incentives introduced by BRT policy changes, such as the implementation of exclusive bus lanes, increased bus frequency, pre-boarding ticket machines and express stops, separately and together. We find that, under our assumptions, these policies can result in significant improvements in terms of individual journey times, modal shift, and length of rush hour. We see that the addition of an exclusive bus lane results in significant improvements for both car users and bus riders. Informed with appropriate empirical data relating to the behavior of individual agents, the geography and the specific policy interventions, the model has the potential to aid policymakers in examining the effectiveness of different BRT schemes, applied to broader environments.     

Understanding bus rapid transit route ridership drivers: An empirical study of Australian BRT systems

Bus Rapid Transit (BRT) systems are an increasingly popular public transport option internationally. They provide rail-like quality for bus services for a fraction of the cost of fixed rail. Many claims of high and increasing ridership have resulted from BRT system development; however, it is unclear exactly which aspects of BRT system design drive this. This paper explores whether BRT design features, among other influences, significantly increase ridership above and beyond the impact of service levels. It does so using a series of regression models undertaken on 77 BRT and non-BRT bus routes in Australia which is known for its diversity in BRT route design. Explanatory variables used included service level, frequency, speed, stop spacing, share of segregated right of way, vehicle accessibility, employment and residential density, car ownership levels and BRT infrastructure quality. Five models explored the role of these variables. Two models found that service level dominates predictions of boardings per route km although they suffer from endogeneity. Further models control for this influence by modelling boardings per vehicle km. Overall results suggest that some BRT infrastructure treatments such as right of way have a significant impact on ridership but the influence of infrastructure is within the context of high service levels. The role of accessible vehicles has also been highlighted in this research, although more research is needed to clarify this influence. The paper concludes with a discussion of the various influences on ridership and recommendations for existing policy and future research.     

Combined impacts of highways and light rail transit on residential property values: a spatial hedonic price model for Phoenix,Arizona

This study analyzes the positive and negative relationships between housing prices and proximity to light rail and highways in Phoenix, Arizona. We hypothesize that the accessibility benefits of light rail transit (LRT) and highways accrue at nodes (stations and highway exits specifically), while disamenities emanate from rail and highway links as well as from nodes. Distance decay of amenities and disamenities is captured using multiple distance bands, and hypotheses are tested using a spatial hedonic model using generalized spatial two-stage least-squares estimation. Results show that proximity to transport nodes was associated significantly and positively with single-family detached home values. As a function of distance from highway exits and LRT stations, the distance-band coefficients form an inverted-U pattern consistent with a positive longer-range distance–decay accessibility effect minus a smaller and shorter-range distance–decay disamenity effect. The positive accessibility effect for highway exits extends farther than for LRT stations. Coefficients for the distance from highway and LRT links, however, were not significant. We also test the effect of highway design on home values and find that below-grade highways have relatively positive impacts on nearby houses compared to those at ground level or above.     

The equity impacts of bus rapid transit: A review of the evidence and implications for sustainable transport

The paper offers an analysis of empirical evidence on the equity impacts of operational Bus Rapid Transit (BRT) systems in the Global South. The focus is on vertical equity, i.e. whether BRT systems achieve progressive benefits for poorer segments of the population. Findings from Africa, Asia, and Latin America all suggest that BRT does offer significant benefits to low-income groups, in terms of travel time and cost savings, access enhancement, and safety and health benefits. However benefits are often skewed toward medium-income users and thus less progressive than they might be. Two primary reasons for this are insufficient spatial coverage and inappropriate fare policies. While many features of BRT potentially allow it to deliver pro-poor outcomes, such outcomes only materialize if BRT implementers pay specific and sustained attention to equity. The paper identifies key issues that need to be addressed to steer BRT implementation toward more socially sustainable outcomes—including better integration with other transit, paratransit, and nonmotorized transport services, and with the housing sector.     

Recovery of disruptions in rapid transit networks

This paper studies the disruption management problem of rapid transit rail networks. Besides optimizing the timetable and the rolling stock schedules, we explicitly deal with the effects of the disruption on the passenger demand.We propose a two-step approach that combines an integrated optimization model (for the timetable and rolling stock) with a model for the passengers’ behavior.We report our computational tests on realistic problem instances of the Spanish rail operator RENFE. The proposed approach is able to find solutions with a very good balance between various managerial goals within a few minutes.     

Bus rapid transit impacts on land uses and land values in Seoul,Korea

Bus rapid transit (BRT) has gained popularity as a cost-effective alternative to urban rail investments; however, relatively little is known about its impacts on land-use changes and land values. This paper examines the land-market effects of converting regular bus operations to median-lane bus services in Seoul, Korea, one of the densest, most congested cities in the world. Multilevel models reveal BRT improvements prompted property owners to convert single-family residences to higher density apartments and condominiums. Land price premiums of up to 10% were estimated for residences within 300 m of BRT stops and more than 25% for retail and other non-residential uses over a smaller impact zone of 150 m. The research findings underscore the importance of introducing zoning and other land regulatory changes prior to the initiation of BRT improvements as well as applying value-capture tools to help finance investments and redress inequities.     

Long-term impact of network access to bike facilities and public transit stations on housing sales prices in Portland,Oregon

Planners and economists generally accept that housing market values increase with proximity to transportation facilities through the provision of improved access to activity locations. While the market benefits of rail station access are well-documented, inconsistent and insufficient methods have led to limited agreement on the true value associated with this locational amenity. Far fewer hedonic price studies have assessed the influence of bike facility access on housing sales prices, and those that have generally analyze cross-sectional data. In this study, we estimated a spatial hedonic model using a bootstrapped pseudo panel to determine the joint impact of network proximity to bike lanes and off-street multi-use paths, as well as light rail and streetcar stations, on housing sales in Portland, Oregon, from 2002 to 2013. Our findings revealed housing sales prices increased as network distance to the nearest light rail transit and streetcar station decreased. Likewise, owner-occupied single-family and multifamily housing sales rose in conjunction with reduced street network access to regional multi-use bike paths; however, improved proximity to on-street bike lanes negatively affected housing values. In sum, we believe these findings may help to inform non-automotive transportation infrastructure financing mechanisms that rely on rising property values.     

Impact of new motorway on housing prices in rural North-East Slovenia

The literature generally agrees that improved accessibility has a positive effect on housing values. The motorway constructions in north-eastern Slovenia, completed between 2002 and 2018, significantly improved the accessibility of less developed areas. In this article, we examine how the new motorway has affected the housing values in the mostly rural north-eastern part of Slovenia. We analysed the distance decay effect of amenities and disamenities of motorway links and ramps as well as bus stops, train stations, and railway links on housing prices. In addition to the transport infrastructure variables, we analysed numerous other structural and environmental variables. We estimated three different spatial hedonic regression models: the spatial autoregression model, the spatial error model, and the spatial autocorrelation model.The results indicate that none of proximities to the bus stop, train station, or motorway link have had a significant effect on housing value. However, the rail track proximity exhibited a significant negative association with price. Furthermore, the effect of distance to the nearest motorway ramp on housing value is significant: it is stronger for closer distances (i.e. starting from 500 m) and decreases up to 6 km, while the effect of distances below 500 m is insignificant. Our results also show that bigger dwellings, more rooms, and the presence of a balcony, elevator, central auto heating system, new installation, and air conditioning as well as an apartment in a single house, are associated with a higher housing price. On the contrary, selling the dwellings together with a parking place and basement reduced the average price of the housing property. Comparing our results to the literature, we proved our hypothesis that the negative effect of a motorway is less pronounced in rural areas compared to urban areas and that the positive effect of accessibility is stronger in rural areas and extends over a wider geographical area.     

The impact of Seoul's subway Line 5 on residential property values

This research investigates the impact of the construction of a new subway line (Line 5) in Seoul on nearby residential property values. A hedonic pricing model shows that distance from a Line 5 subway station had a statistically significant effect on residential prices only prior to the line's opening. This is consistent with the anticipatory effect observed in other studies. Moreover, accessibility to transit had, in general, less of an impact on house prices than other variables such as the size of the unit, the quality of the school district, proximity to the high-status Kangnam subcenter, and possibly accessibility to recreational resources.     

Tourism distribution channels in Wellington,New Zealand

This paper outlines a multiple method approach used in Wellington as a way of researching issues of distribution channels for tourism in urban areas. The study combines information obtained from interviews with providers and intermediaries, visitor surveys and the analysis of catalogues to present a systematic examination of distribution channels for a range of accommodation and attractions. The results highlight the complexity of distribution channels in Wellington, with variations occurring by market segment and by type of accommodation and attractions. Chain hotels have the most complex channels. Smaller properties and attractions tend to pursue simpler ‘at destination’ distribution strategies. Copyright © 2004 John Wiley & Sons, Ltd.     

The effect of urban growth on commuting patterns in Christchurch,New Zealand

The rising demand for residential development in the urban fringe of Christchurch, New Zealand, has led to an increase in car use and lengthening journeys, both of which have serious environmental implications. In light of this, the relationship between urban form and transport was investigated in Christchurch through the analysis of journey to work data from 1991 and 2001. Low density suburban areas were found to generate and receive the highest percentages of car trips in both 1991 and 2001. It was also found that the majority of work-trips involved suburb-to-suburb commuting, rather than to the centre of the city. Average trip length did not increase substantially over this period, although increases were apparent in separate modes. Multivariate regression analysis established that the key variable determining modal split and trip length was the distance the residence was located from the central business district. Results were similar when compared to larger cities elsewhere.     

Tourism,Trams and Local Government Policy-making in Christchurch,New Zealand

This paper examines the role of local government and the nature of the policy-making process in urban tourism through a detailed analysis of the development of the Christchurch tourist tramway. The basic issues addressed are why and how a tourist tramway was developed in Christchurch and what was the development and policy process. A detailed chronology of events is established through the analysis of archival material, newspaper accounts and interviews with key personnel. The analysis and interpretation centres on understanding what was driving the tramway development process. Emphasis is given to identifying key factors and events, the tourism arguments used, and the interests of the different parties involved. The process is shown to be ad hoc and incremental, with the development of the tramway being part of broader urban processes and policies. Tourism is frequently used to rationalise other interests, notably a desire amongst enthusiasts to see trams running once more on the city's streets. In many respects, the Christchurch case reflects broader issues elsewhere.     

The perceived risks of local climate change in Queenstown,New Zealand

Place-embedded, resource-dependent industries are increasingly vulnerable to the effects of climate change. The scientific framing of these risks can be understood through modelling; however, risks are perceived by non-scientific communities in more culturally relevant and localised frames. This empirical study utilised qualitative, semi-structured interviews with four stakeholder groups connected to the ski industry in Queenstown, New Zealand. The objectives of this research were to identify current scientific knowledge on climate change risks to Queenstown's ski industry and to critically address how the risk of climate change is perceived. This paper reports three main findings: (1) scientific reporting and expert interviews expect climate change to manifest as inter-annual variability up to the 2050s, (2) current climatic variability is perceived to be the greatest risk to the ski industry at present and (3) climate change is perceived to be distant and a greater threat to other people and other places giving rise to ‘optimistic bias’.