A1 Vertaisarvioitu alkuperäisartikkeli tieteellisessä lehdessä

The anticipation effect of a light rail transit line on housing prices in the Helsinki region




TekijätKauria Eetu

KustantajaFinnish Economic Association

Julkaisuvuosi2021

JournalJournal of the Finnish Economic Association

Lehden akronyymiJFEA

Artikkelin numero3

Vuosikerta2

Numero1

Aloitussivu49

Lopetussivu73

Verkko-osoitehttps://journal.fi/jfea/article/view/112406

Rinnakkaistallenteen osoitehttps://research.utu.fi/converis/portal/detail/Publication/68131207


Tiivistelmä

I analyze how housing markets in Espoo and Helsinki anticipate the construction of a new light rail transit connection called Jokeri Light Rail. I use geocoded micro-level housing transaction data from 2003–2019. As an econometric identification strategy, I utilize difference-in-differences estimation with a hedonic price model. My main result is that, on average, apartment prices increase by 5 percent more within 800 meters of the Jokeri Light Rail stops than apartments farther away. A rough estimate of the total windfall for homeowners indicates that the anticipated benefits exceed the cost estimate for the investment five to eight years before the Jokeri Light Rail becomes operational.


Ladattava julkaisu

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Last updated on 2024-26-11 at 20:21