The Impact of Urban Public Transport on Residential Transaction Prices: A Case Study of Poznań, Poland

Abstract

This study aims to determine the magnitude and nature of the impact of public urban transport accessibility on the value of residential properties in Poznań. The study was based on 2561 residential transactions completed within the study area in 2020. The input data obtained from the Board of Geodesy and Municipal Cadastre “GEOPOZ” were analysed statistically and spatially. The main part of both the spatial and the statistical analysis was performed using the hedonic pricing method (HPM)-OLS (ordinary least squares) and WLS (weighted least squares). The use of statistical tools enabled the finding of evidence to prove that the convenient accessibility of trams is positively related to housing prices. This has also been confirmed by previous research works conducted in other parts of the world. However, the collected data did not enable the identification of statistically significant relationships between housing prices and the distance from bus stops. The study also attempts to use spatial choropleth maps to clearly illustrate the mechanisms within the local housing market.

Transport Infrastructure and Regional Development: A Survey of Literature on Wider Economic and Spatial Impacts

“…Based on the results of geographically weighted regression, the study has shown that the importance of the Pozna ń Fast Tram in terms of satisfaction with the place of residence is high, whereas the impact on home prices is relatively small. Another study, also in Pozna ń [26], has not revealed a statistically significant relationship between distance from bus stops and the price of housing. Similarly, the authors of [18] have proved that the Taiwan High Speed Rail has a negligible impact on house prices.…”

“…In later years, major transport infrastructure construction initiatives (motorway networks, high-speed railways, seaports and airports) were mainly observed in Asia, as well as in Central and Eastern Europe and on other continents, especially in developing countries. This gave rise to a number of publications in countries previously considered as developing ones, i.e., in Asia [7][8][9][10][11][12][13], India [14][15][16], Pakistan [17], Taiwan [18]; Armenia, Georgia and Turkey [19,20], Russia [21] or in the Middle East [22], as well as in Eastern Europe (in Poland [23][24][25][26][27][28][29][30][31] and Croatia [32]) and Southern Europe (in Greece [33,34], Spain [35], Portugal [36] and in Italy [37]). The increased interest in this research topic in the countries mentioned above was often linked to the parallel rapid socio-economic development of areas where transport infrastructure was being expanded.…”

Impact of Induced Seismicity on the Housing Market: Evidence from Pohang

“…Job accessibility was also found to affect housing choice and price [29]. Transportation such as metro/railway networks [30][31][32][33][34] and bus rapid transit networks [35] was also influential. Further, accessibility of quality schools strongly influenced price [36,37].…”

The Relation Between Road Infrastructural Development and Land Value Increments in Dire Dawa City, Ethiopia

“…Several studies have found that transport infrastructure exerted a positive impact on land values; this is especially true for properties in close proximity to stations [10]. ´However, in some instances, urban transit projects could also produce negative impacts on land value usually as a result of factors such as noise, pollution or a rise in incidence of crime [21].…”