When and Where Do Home Values Increase in Response to Planned Light Rail Construction?

IF 2.8 3区 经济学 Q2 REGIONAL & URBAN PLANNING
Qiong Peng, G. Knaap
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引用次数: 0

Abstract

This paper examines the effects of an investment in light rail transit on single-family property values in Montgomery County, Maryland, with a focus on when and where such capitalization takes place and with intent to inform efforts to promote equitable transit-oriented development. We employ both hedonic price and repeat-sales estimation techniques to assure the results are robust. The findings indicate that housing prices, after the light rail transit went into the engineering phase, rose with proximity to anticipated new rail stations but not with proximity to existing metro stations. For planners and policymakers and advocates in Montgomery County, the results provide critical information about where and when value capture and anti-displacement policies are most needed and potentially effective.
何时何地房屋价值会因轻轨建设而增加?
本文研究了轻轨交通投资对马里兰州蒙哥马利县独栋房地产价值的影响,重点是何时何地进行资本化,旨在为促进公平的公交导向发展提供信息。我们采用特征价格和重复销售估计技术来确保结果是稳健的。研究结果表明,轻轨交通进入工程阶段后,房价随着预期新火车站的临近而上涨,但与现有地铁站的临近无关。对于蒙哥马利县的规划者、政策制定者和倡导者来说,研究结果提供了关键信息,说明在何时何地最需要价值捕获和反流离失所政策,并且这些政策可能有效。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
7.40
自引率
4.50%
发文量
71
期刊介绍: The Journal of Planning Education and Research (JPER) is a forum for planning educators and scholars (from both academia and practice) to present results from teaching and research that advance the profession and improve planning practice. JPER is the official journal of the Association of Collegiate Schools of Planning (ACSP) and the journal of record for North American planning scholarship. Aimed at scholars and educators in urban and regional planning, political science, policy analysis, urban geography, economics, and sociology, JPER presents the most vital contemporary trends and issues in planning theory, practice, and pedagogy.
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