A1 Vertaisarvioitu alkuperäisartikkeli tieteellisessä lehdessä
The anticipation effect of a light rail transit line on housing prices in the Helsinki region
Tekijät: Kauria Eetu
Kustantaja: Finnish Economic Association
Julkaisuvuosi: 2021
Journal: Journal of the Finnish Economic Association
Lehden akronyymi: JFEA
Artikkelin numero: 3
Vuosikerta: 2
Numero: 1
Aloitussivu: 49
Lopetussivu: 73
Verkko-osoite: https://journal.fi/jfea/article/view/112406
Rinnakkaistallenteen osoite: https://research.utu.fi/converis/portal/detail/Publication/68131207
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 This is an electronic reprint of the original article. |