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The Effects of Downtown Line MRT on Property Values

Author

Listed:
  • Seow Eng Ong
  • Calvin Chau
  • Jianmei Wu

Abstract

The Downtown Line was announced on 3 July 2009 providing a much needed mass rapid transit from the central part of Singapore to downtown CBD. This study studies the economic value of Downtown Line on property prices along Bukit Timah and Dunearn Road (prime residential areas) using a difference-in-difference approach. We seek to valide the premium for residential units located within walking distance of public rail network, as well as provide an added dimension on the Singapore's housing prices with proximity to a rail network, with an up-to-date look on the latest network addition. The policy implications, such as government intervention on the densification efforts surrounding stations located away from downtown, will be examined.

Suggested Citation

  • Seow Eng Ong & Calvin Chau & Jianmei Wu, 2017. "The Effects of Downtown Line MRT on Property Values," ERES eres2017_52, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2017_52
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    Cited by:

    1. Herskovic, Luis, 2020. "The Effect of Subway Access on School Choice," Economics of Education Review, Elsevier, vol. 78(C).

    More about this item

    Keywords

    Accessibility; proximity; residential values; train lines; transport network;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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