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Measuring the impacts of Bus Rapid Transit on residential property values: The Beijing case

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  • Deng, Taotao
  • Ma, Mulan
  • Nelson, John D.

Abstract

Bus Rapid Transit (BRT) has emerged as a cost-effective transport system for urban mobility. The study uses the hedonic price model to investigate the impacts of BRT on residential property values in Beijing, where BRT has been in service for over 6 years. The empirical analysis suggests that BRT has positive impacts on surrounding property values. The hedonic price model shows that for every 100-m closer to the BRT station, asking prices of residential properties increase by between 1.32% and 1.39%. The study suggests that accessibility improvement, rather than the type of transit system, has certain influence on property values. The paper underscores the importance of considering the application of value-capture tools to help finance BRT investments and calls for complementary investment policies to enhance property value impacts.

Suggested Citation

  • Deng, Taotao & Ma, Mulan & Nelson, John D., 2016. "Measuring the impacts of Bus Rapid Transit on residential property values: The Beijing case," Research in Transportation Economics, Elsevier, vol. 60(C), pages 54-61.
    • Handle: RePEc:eee:retrec:v:60:y:2016:i:c:p:54-61
    DOI: 10.1016/j.retrec.2016.08.005
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    References listed on IDEAS

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    Cited by:

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    4. Jonas Eliasson & Fredrik Kopsch & Svante Mandell & Mats Wilhelmsson, 2020. "Transport Mode and the Value of Accessibility–A Potential Input for Sustainable Investment Analysis," Sustainability, MDPI, vol. 12(5), pages 1-14, March.
    5. Beaudoin, Justin & Tyndall, Justin, 2023. "The effect of bus rapid transit on local home prices," Research in Transportation Economics, Elsevier, vol. 102(C).
    6. Guzman, Luis A. & Enríquez, Hernán Darío & Hessel, Phillip, 2021. "BRT system in Bogotá and urban effects: More residential land premiums?," Research in Transportation Economics, Elsevier, vol. 90(C).
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    9. Yang, Linchuan & Chu, Xiaoling & Gou, Zhonghua & Yang, Hongtai & Lu, Yi & Huang, Wencheng, 2020. "Accessibility and proximity effects of bus rapid transit on housing prices: Heterogeneity across price quantiles and space," Journal of Transport Geography, Elsevier, vol. 88(C).
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    11. D'Elia, Vanesa Valeria & Grand, Mariana Conte & León, Sonia, 2020. "Bus rapid transit and property values in Buenos Aires: Combined spatial hedonic pricing and propensity score techniques," Research in Transportation Economics, Elsevier, vol. 80(C).
    12. Yamawaki, Y. & Castro Filho, F.M.d. & Costa, G.E.G.d., 2020. "Mega-event transport legacy in a developing country: The case of Rio 2016 Olympic Games and its Transolímpica BRT corridor," Journal of Transport Geography, Elsevier, vol. 88(C).
    13. Dubé, Jean & Andrianary, Eugénie & Assad-Déry, François & Poupart, Janie & Simard, Justine, 2018. "Exploring difference in value uplift resulting from new bus rapid transit routes within a medium size metropolitan area," Journal of Transport Geography, Elsevier, vol. 72(C), pages 258-269.
    14. Dubé, Jean & Le Gallo, Julie & Des Rosiers, François & Legros, Diègo & Champagne, Marie-Pier, 2024. "An integrated causal framework to evaluate uplift value with an example on change in public transport supply," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 185(C).
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