Urban rail systems investments: an analysis of the impacts on property values and residents’ location

Pagliara, Francesca; Papa, Enrica

doi:10.1016/j.jtrangeo.2010.02.006

Cited by 116 publications

(63 citation statements)

References 21 publications

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“…The hedonic studies relating real estate prices with transport conditions have therefore complemented the theories on urban economy and tested their hypotheses through multiple case studies. Most of these studies have concentrated on the relationship between real estate prices and access to rail transport with very varied results (Pagliara and Papa, 2011). Debrezion et al (2007) carried out a meta-analysis with more than 50 hedonic studies to explain the variability in the results of the research.…”

Section: Bibliographic Reviewmentioning

confidence: 99%

Modelling transport and real-estate values interactions in urban systems

Ibeas

Cordera

dell’Olio

et al. 2012

Journal of Transport Geography

113

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a b s t r a c tThis article presents hedonic Multiple Linear Regression models (MLR), spatial autoregressive hedonic models (SAR), Spatial autoregressive hedonic in the Error term Models (SEMs) and spatial Durbin hedonic models (SDMs) to estimate house price variations in metropolitan areas as a result of changing environmental and accessibility conditions. The goodness of fit of the different models has been compared along with a series of hypotheses about the performance of the specifications considering spatial relationships between observations. The case study for such analysis was the urban area of Santander (Spain). The models which considered spatial dependence between observations offered a greater degree of fit in a scenario showing strong spatial correlation in MLR residuals. The SEM model combined with a QueenContiguity matrix provided a good fit to the data and at the same time presented significant parameters with theoretically coherent signs. This model estimated increases of 1.8% for each additional transit line present in the areas of housing, as well as a reduction of 1.1% in their prices for each additional minute in travelling time to the Central Business District. Closeness to the train stations, however, implied reductions in house prices.

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Section: Bibliographic Reviewmentioning

confidence: 99%

Modelling transport and real-estate values interactions in urban systems

Ibeas

Cordera

dell’Olio

et al. 2012

Journal of Transport Geography

113

View full text Add to dashboard Cite

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“…Tuner [7] repeat three times that location, location and location is the main successful indicator for a property product. This is also mentioned by Dobson and Goddard [8] that location factor is among a considerations in investment decision. Other than that, time factor is also important as it indicate the situation at the time a property is launched [9].…”

Section: Micro Factors Of Sale Failurementioning

confidence: 70%

“…Future potential of a commercial property like rental value expectation is one of criteria that investor look into when considering to buy commercial property [18]. Dobson and Goddard [8], also belived that the supply of properties to let or sell in each area depends on the area's rent and price.…”

Section: Micro Factors Of Sale Failurementioning

confidence: 99%

Critical Failure Factors in Selling Shoplots towards Sustainability of New Township Development

Tawil

Mohamad

Usman

et al. 2014

E3S Web of Conferences

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Abstract. The focus of this research is to identify the critical factors of shop houses sale failure in Nilai New Township. The critical factors of sale failure of commercial property types, shop houses in new township need to be discover as reported by Valuation and Property Services Department (JPPH) showed 5,931 units of shop houses in Malaysia is currently completed but remained unsold where Johor was recorded as the highest with unsold units followed by Negeri Sembilan. Thus Nilai New towship is chosen as research sample for unsold shop houses units due to its strategic location which is near to KLIA, International Sepang Circuit, educational instituitions and surrounded by housing scheme but yet still has numbers of unsold units. Data was gathered from survey question between developers, local authority, purchasers/tenant and local residents.. Generally, the factors of sale failure are economy, demography, politic, location and access, public and basic facilities, financial loan, physical of product, current stock of shop houses upon completion, future potential of subsale and rental, developer's background, promotion and marketing, speculation and time.

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“…The spectrum of the effects considered has widened with the passing of time in concert with improvements in modeling and simulation and with the expansion and classification of the different and often contrasting objectives and goals of actors and decision-makers (Cascetta, 2009). The impacts are considered for all users for the different transportation modes (Pagliara and Papa, 2011 PROJECT MONITORING Impact indicators are typically computed for a subset of simulation or reference periods and then extrapolated to larger time periods. Many impacts can be simulated by using the models.…”

Section: The Backgroundmentioning

confidence: 99%