The impact of regional commuter trains on property values: Price segments and income

Using single-family home transactions and commuter rail data from 2014, we estimate hedonic price models using two-stage spatial quantile regression to capture variations across price segments. The results are significant and robust across different model specifications and across the different price segments, but the price effect of proximity to a commuter train station is strongest in lower price segments of the housing market. These price segment effects are also valid for proximity to highways, as well as for several other property attributes. Results also reveal that the largest of the three regional labour markets in our study has a greater effect on prices. Furthermore, the study introduces property-specific neighbourhood data from raster data, showing that population density has a negative impact on property prices at the neighbourhood level while population size has a positive impact at the municipal level.     

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.     

Who were these bike lanes built for? Social-spatial inequities in Vancouver's bikeways, 2001–2016

Over the past 15 years, Vancouver, British Columbia, has made substantial investments to their bikeway network, adding over 150 km of protected bike lanes, painted bike lanes, and local street bikeways. This investment in bicycling infrastructure corresponded with increases in city-wide commuting to work by bicycle (from 4.1% in 2001 to 6.1% in 2016). However, there has not been an examination as to who has benefited from the expansion of Vancouver's bikeway network. This study aimed to examine whether increases in bikeway access corresponded with increases in bicycle commuting, whether there are socio-demographic inequities in bikeway access, and if these inequities changed over a fifteen-year period from 2001 to 2016. Using census data and municipal open datasets, we considered access to bikeways overall, and also to specific types of bikeways (protected bike lanes, painted bike lanes, local street bikeways) which confer different comfort and safety benefits. We fit a series of non-spatial and spatial Poisson models using integrated nested Laplace approximation, with random effects for census tract. We found disparities in access did exist and that inequities in access to bikeways have not changed over time. Areas with more children have less access to protected bike lanes (RR: 0.69, 95% CI: 0.55–0.87) and areas where more Chinese people live have less access to protected bike lanes (RR: 0.75, 95% CI: 0.59–0.96). Areas with more university-educated adults had more infrastructure—particularly local street bikeways (RR: 1.11, 95% CI: 1.02–1.21). Indeed, areas with bike commuting had more local street bikeways (RR: 1.15, 95% CI: 1.03–1.27). Our analysis sheds light on certain inequities in the distribution of bikeways in Vancouver which have persisted over time, and can be used to inform policy actions to promote mobility across all neighbourhoods.     

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.     

An empirical test of modal choice and allocative efficiency: Evidence from US coal transportation

A generalized shipper transportation cost function is estimated to test whether coal shippers achieve allocative efficiency with respect to market prices when facing limited access to the full range of transportation services. Findings indicate that allocative efficiency with respect to market prices is achieved when shippers have access to all major transportation modes. In contrast, the condition for allocative efficiency is not met with respect to market prices when shippers’ modal choices are limited to trucking and rail services. Findings for the sample of shippers who face limited shipping choices is interpreted as suggesting an over-use of trucks relative to the use of trains due to price distortions of transportation services.     

Public bicycle as a feeder mode to rail transit in China: The role of gender,age, income,trip purpose,and bicycle theft experience

A marriage between public bicycle and rail transit presents new opportunities for sustainable transportation in Chinese cities. To examine determinants of public bicycle usage for rail transit access, an intercept survey of feeder mode choice among rail transit users was conducted near rail stations in Nanjing, China. Mode choice models were estimated with five feeder mode alternatives, including car, bus, walk, private bike, and public bike. By differentiating between public and private bicycle modes in the mode choice models, the study reveals the effects of personal demographics, trip characteristics, and station environments on public bicycle usage for rail transit access. Results show that female, older, and low-income rail commuters are less likely to use public bicycle to access rail transit. Rail commuters with bicycle theft experience and making school- or work-related trips are more likely to use public bicycle to access rail transit. Land use variables are largely insignificant in this study except that density shows a positive relationship with walking to rail transit. The results on demographic differences raise equity concerns when it comes to investing in public bicycle systems. Policy implications are discussed for Chinese cities to equitably boost public bicycle integration with rail transit.     

Perceptions of neighborhood change in a Latinx transit corridor

Understanding how nearby residents feel about transit-induced neighborhood change remains understudied despite growing concerns over displacement and gentrification. This study analyzed 329 surveys of resident perceptions of neighborhood change and associated development near an existing commuter rail station and a planned streetcar route in Santa Ana, California, a largely low-income, Latinx community. We found residents were on average satisfied with neighborhood access to transport and amenities, and that higher neighborhood satisfaction was associated with a more positive assessment of development and neighborhood change. Living near the streetcar route was associated with more negative assessments of change, reflecting residents of these areas had heightened concerns about housing costs, displacement, and parking. Results provide planners with insights regarding support for and concerns about transit-induced neighborhood changes that can help foster more equitable and responsive development processes and outcomes.     

Walking accessibility to bus rapid transit: Does it affect property values? The case of Bogotá, Colombia

This research sheds light on the relation of bus rapid transit and residential property values within walking distance to the system. The case study was Bogotá’s Transmilenio (Colombia). This research conducted a city-wide econometric hedonic analysis with 2000 to 2004 Department of Housing Control data across different walking distances, subsystems (trunk, feeder), socio-economic strata and time. The main results showed that, with respect to the value of properties in relation to proximity, the housing market places value premiums on the properties in the immediate walking proximity of feeder lines. The analysis by socio-economic strata showed that middle-income properties were valued more if they fell closer to the system, while there were opposite results for low-income housing. Finally, analysis across time reflects slight average annual increases in property values correlated with the implementation of the system in two specific areas analyzed. Throughout the paper, the author acknowledges some of the challenges of using hedonic modeling for property value impact assessments and emphasizes that the interpretation of the results are case specific.     

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.     

Impact of high speed rail on housing values: an observation from the Beijing–Shanghai line

This study investigates the ex post impact of the Beijing–Shanghai high speed rail (BJHSR) on housing values. A dataset including 1016 housing communities from the 22 cities along the BJHSR line are analyzed in the tradition of the hedonic pricing model using three estimation procedures: a robust ordinary-least square regression, a Box-Cox transformation technique and a spatial econometric model. After controlling for physical characteristics of housing property, neighboring environment and locational accessibility, the study finds that the establishment of the BJHSR service has a considerable regional impact (including local effects and spillover effects) on housing values in medium and small cities but a negligible impact in larger capital cities. This may be the results of the competitive nature of housing market in Chinese capital cities.     

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.     

Exploring the impact of built environment factors on the use of public bikes at bike stations: Case study in Zhongshan,China

Many countries have implemented public bike systems to promote sustainable public transportation. Despite the rapid development of such systems, few studies have investigated how built environment factors affect the use of public bikes at station level using trip data, taking account of the spatial correlation between nearby stations. Built environment factors are strongly associated with travel demand and play an important role in the success of public bike systems. Using trip data from Zhongshan's public bike system, this paper employed a multiple linear regression model to examine the influence of built environment variables on trip demand as well as on the ratio of demand to supply (D/S) at bike stations. It also considered the spatial correlations of PBS usage between nearby stations, using the spatial weighted matrix. These built environment variables mainly refer to station attributes and accessibility, cycling infrastructure, public transport facilities, and land use characteristics. Generally, we found that both trip demand and the ratio of demand to supply at bike stations were positively influenced by population density, length of bike lanes and branch roads, and diverse land-use types near the station, and were negatively influenced by the distance to city center and the number of other nearby stations. However, public transport facilities do not show a significant impact on both demand and D/S at stations, which might be attributed to local modal split. We also found that the PBS usage at stations is positively associated with usage at nearby stations. Model results also suggest that adding a new station (with empty capacity) within a 300 m catchment of a station to share the capacity of the bike station can improve the demand-supply ratio at the station. Referring to both trip demand models and D/S models, regression fits were quite strong with larger R² for weekdays than for weekends and holidays, and for morning and evening peak hours than for off-peak hours. These quantitative analyses and findings can be beneficial to urban planners and operators to improve the demand and turnover of public bikes at bike stations, and to expand or build public bike systems in the future.     

Should I stay or should I go? A survey analysis of neighborhood change and residential mobility concerns around new light rail stations in Charlotte,NC

In this article, we examine the effects of rail transit investments on residents' stated mobility intentions and perceptions of neighborhood changes using a survey analysis in Charlotte, North Carolina. We ask residents in neighborhoods along a new light rail line about their reasons for residing in their current neighborhood, thoughts about moving and the light rail's effect on their neighborhood. To control for city-wide housing market pressures, responses from one station-adjacent neighborhood are compared to responses from residents in a similar neighborhood elsewhere in the city while controlling for individual characteristics. Using a mixed-methods research approach, we find that while residents attribute some changes in their property values and rents to the light rail, it is only one of many factors affecting their neighborhood. Light rail also does not appear to affect residents' stated propensity to move out of these neighborhoods. Survey respondents' view of the light rail's effect on their neighborhood is also positive, on average. We find that the stated likelihood of moving is not related to the distance to the station nor to how frequently a resident uses the light rail. This article contributes to debates on transit-induced displacement and gentrification and provides context to neighborhood-scale quantitative analyses from residents' perspective.     

The first rapid tram line in Poland: How has it affected travel behaviours,housing choices and satisfaction,and apartment prices?

The opening of the Poznań Rapid Tram (pol. Poznański Szybki Tramwaj, PST) in the year 1997 symbolically marked the beginning of a new era in the development of urban transportation systems in Poland. In this paper we would like to address the following question: more than one decade after the opening of the PST, what are its effects in terms of travel behaviours, housing choices and satisfaction, and apartment prices? In order to answer this question, we combined data on travel behaviours and housing choices from a survey based on a sample of nearly 300 households with data on housing prices from over 1400 real estate transaction records from the period between 2010 and 2013. Our results show that the proximity to PST affects travel behaviours, as respondents living close to PST stops confirmed that they use this form of transportation more often. There also seems to be some effect on housing choices; in locations close to PST stops we found many households living in rental housing, particularly university students. Also, about 20% of interviewees declared that they would pay more for apartments located closer to the rapid tram. However, that effect was only partly confirmed through the analysis of transaction prices. Using standard and spatial econometric regressions including variables like apartment size, floor number, amenities, and type of building we found a weak correlation between the proximity to PST and apartment prices. In conclusion, we argue that treating property price effects as the main justification for public transportation projects might be a doubtful choice, because in some cases the principal impacts of such projects might be visible in terms of residents' satisfaction and travel behaviours.     

Understanding the usage of dockless bike sharing in Singapore

A new generation of bike-sharing services without docking stations is currently revolutionizing the traditional bike-sharing market as it dramatically expands around the world. This study aims at understanding the usage of new dockless bike-sharing services through the lens of Singapore's prevalent service. We collected the GPS data of all dockless bikes from one of the largest bike sharing operators in Singapore for nine consecutive days, for a total of over 14 million records. We adopted spatial autoregressive models to analyze the spatiotemporal patterns of bike usage during the study period. The models explored the impact of bike fleet size, surrounding built environment, access to public transportation, bicycle infrastructure, and weather conditions on the usage of dockless bikes. Larger bike fleet is associated with higher usage but with diminishing marginal impact. In addition, high land use mixtures, easy access to public transportation, more supportive cycling facilities, and free-ride promotions positively impact the usage of dockless bikes. The negative influence of rainfall and high temperatures on bike utilization is also exhibited. The study also offered some guidance to urban planners, policy makers, and transportation practitioners who wish to promote bike-sharing service while ensuring its sustainability.     

Anticipation and post-construction impact of a metro extension on residential values: The case of Laval (Canada), 1995–2013

The application of hedonic pricing models has a long history in estimating the externalities associated with urban infrastructure, such as public transportation. However, results accuracy crucially depends on methodological and empirical considerations such as: i) presence of spatial latent component (spatial autocorrelation); ii) temporal breaks related to different periods over which the infrastructure is built; and iii) heterogeneity of the effect along the line and stations. This paper aims to assess the impact of Montréal's metro extension to the suburb city of Laval (announced in 1998 and started operating in 2007). A spatial difference-in-difference (SDID) estimator based on a repeated sales approach is used to isolate the impact of the proximity to the new infrastructure on single-family house prices depending on the implementation phases and the stations. The results suggest that among the three new infrastructures, only one shows a positive impact of proximity after the first operation of the transit service. The study results tend to relativize the sometimes high expectations in terms of economic impacts of such a project, at least for residential properties.     

Rail infrastructure charging and on-track competition in Germany

Germany was one of the pioneers amongst the European railways in opening up the network for third party access and introducing track access charging schemes. Several rail companies run services on the tracks of the incumbent company DB. This paper analyses the rules for network access, the track access charging scheme and the problems of competition in the rail market. The focus is on regional rail passenger transport due to the fact that this is the most lucrative and promising market for new entrants. The main result is that in this segment in particular non-DB companies have increasingly used the chances which were opened by (paid) access to DB tracks and competitive tendering by regional authorities. However, although their market share has grown DB is still the major carrier. The failure to set an appropriate institutional and regulatory framework has proven to be the major obstacle to a more intensive competition in the rail market.     

Residential property valuations near transit stations with transit-oriented development

Access to train stations is highly valued and this is reflected in the premium price of residential property near train stations. Transit-oriented development (TOD) and the amenities provided by mixed-use development may also provide value to consumers. The analysis presented here evaluates the median property valuations surrounding eight transit stations with TOD using residential property valuation data provided by Zillow™, an on-line real estate listing firm. A hedonic regression analysis was used to evaluate the association between median block-group-level residential property valuations and the distance to the station with TOD and other stations with direct, non-stop access to New York City, while controlling for demographic and housing variables. Spatial econometric software and techniques are used to control for spatial autocorrelation. Results suggest that while the mixed-use development typically found with TOD is likely valued, proximity to stations with direct access to New York City leads to higher relative property valuations.     

Streetcar projects as spatial planning: A shift in transport planning in the United States

Currently dozens of U.S. cities are in the midst of planning and building modern streetcar systems. Though seemingly mobility investments, the intended impacts of these streetcar projects reach beyond transportation and represent a strong turn toward strategic spatial planning through transportation infrastructure. Proponents of modern streetcars argue that they are tools of placemaking as much as if not more than improvements for transit services. Unlike transit investments of a century ago, when privately operated streetcars were a decentralizing force that helped disperse overcrowded central city cores and open new land for real estate development, current streetcar projects in the United States are expected to concentrate activity and economic development in select corridors. The majority of these new systems rely on transit technologies that are significantly improved over the carriages of old, with modern features, smooth rides and quiet operations. Yet for all the improvements to the vehicles and services, new streetcar investments no longer primarily improve transit accessibility. Rather, modern streetcars are part of strategic amenity packages cities use to achieve real estate and economic development goals. This use of transportation infrastructure as an amenity for a particular location is a shift away from traditional transportation planning processes, and the expected benefits, in particular, stand apart as being deliberately spatial. We use planning documents and data from ballot box initiatives to evaluate expected transportation benefits relative to indirect benefits through economic development. We find that approximately three-quarters of all expected benefits from streetcar projects accrue to property development with the remaining expected benefits assigned to transportation. However, we do not find sufficient empirical evidence in the literature to support such certain claims of positive effects on property values and the built environment. We argue that the increasing tendency of cities to leverage streetcar projects for non-transportation purposes represents a turn to the use of infrastructure as a tool of spatial planning.