Does Planning Matter? Effects on Land Markets

Does Planning Matter? Effects on Land Markets This paper uses a spatial multi-intervention difference-in-difference method to examine the opening and planning impacts of transport improvements on land markets in a mega-city of China. The results suggest the significant heterogeneity in the capitalization effects from changes in rail access on prices for different land uses in affected areas versus unaffected areas. Residential and commercial land parcels receiving increased station proximity experience appreciable price premiums. However, such effects vary widely over space. These results add to the evidence that public investments have an important role to play in spurring the spatially targeted land market. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Journal of Real Estate Finance and Economics Springer Journals

Does Planning Matter? Effects on Land Markets

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Publisher
Springer US
Copyright
Copyright © 2014 by Springer Science+Business Media New York
Subject
Economics / Management Science; Regional/Spatial Science; Finance/Investment/Banking
ISSN
0895-5638
eISSN
1573-045X
D.O.I.
10.1007/s11146-014-9455-2
Publisher site
See Article on Publisher Site

Abstract

This paper uses a spatial multi-intervention difference-in-difference method to examine the opening and planning impacts of transport improvements on land markets in a mega-city of China. The results suggest the significant heterogeneity in the capitalization effects from changes in rail access on prices for different land uses in affected areas versus unaffected areas. Residential and commercial land parcels receiving increased station proximity experience appreciable price premiums. However, such effects vary widely over space. These results add to the evidence that public investments have an important role to play in spurring the spatially targeted land market.

Journal

The Journal of Real Estate Finance and EconomicsSpringer Journals

Published: Jan 18, 2014

References

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