The train has left the station: Do markets value intra-city access to inter-city rail connections?

Ahlfeldt, Gabriel M. (2009): The train has left the station: Do markets value intra-city access to inter-city rail connections?

Abstract

This paper analyzes the impact of access to inter-city rail connections on property prices using hedonic, difference-in-difference and time-difference estimation strategies. We investigate the reorganization of the rail system in post-unification Berlin, Germany, which provides much variation in accessibility. Evidence does not support the existence of localized effects. Neither in proximity to stations nor at city-level are there significant price adjustments. No significant price effect is revealed on distance to stations, even when allowing for a complementary relationship. An increase in the attractiveness of central locations coinciding with the final announcement of the train schedule is not attributable to the intervention.

• Item Type: MPRA Paper
• Language: English
• Keywords: Property prices; transport innovation; inter-city connection; railroad; Berlin
• Subjects: R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R0 - General

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