Spatial and time effect of subway on property prices
Radosław Trojanek , Michał Głuszak
AbstractThe paper analyzes both spatial and time effects of subway availability on apartment prices in Warsaw, the only city in Poland with rapid urban transit system. The research is based on a data set of 34,274 geo-coded apartment transactions for the years 2008–2015 in Warsaw. For data analysis the hedonic method was used in OLS, SAR, SEM and SGM models. Additionally we used DiD approach to address potential endogeneity. We found strong evidence that the new subway line (M2) in Warsaw influenced apartment prices even before it was completed. We observed a steady price premium adjustment process related to the new subway line. The findings confirm our hypothesis and are in line with previous research carried out in other parts of the world.
|Journal series||Journal of Housing and the Built Environment, ISSN 1566-4910, (A 20 pkt)|
|Publication size in sheets||1.25|
|Keywords in English||Housing market, Hedonic methods, Subway, Property prices|
|Score||= 20.0, 24-03-2020, ArticleFromJournal|
|Publication indicators||= 9; : 2018 = 1.036; : 2017 = 1.329 (2) - 2017=1.379 (5)|
|Citation count*||25 (2020-09-21)|
|Uwagi||First Online: 20 October 2017|
* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.