Abstract

http://ssrn.com/abstract=1355969
 
 

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The Train has Left the Station: Do Markets Value Intra-City Access to Inter-City Rail Connections


Gabriel M. Ahlfeldt


London School of Economics & Political Science (LSE) - Department of Geography and Environment

March 9, 2009


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.

Number of Pages in PDF File: 26

Keywords: Property prices, transport innovation, inter-city connection, railroad, Berlin

JEL Classification: R21, R40, R53

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Date posted: March 11, 2009  

Suggested Citation

Ahlfeldt, Gabriel M., The Train has Left the Station: Do Markets Value Intra-City Access to Inter-City Rail Connections (March 9, 2009). Available at SSRN: http://ssrn.com/abstract=1355969 or http://dx.doi.org/10.2139/ssrn.1355969

Contact Information

Gabriel M. Ahlfeldt (Contact Author)
London School of Economics & Political Science (LSE) - Department of Geography and Environment ( email )
Houghton Street
WC2A 2AE London
United Kingdom
HOME PAGE: http://personal.lse.ac.uk/ahlfeldg/
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