Koster, J.T. (2017) Assessing the Impact of Redevelopment of Railway Stations on House Prices. Master thesis.
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Abstract
While earlier research on the external effects of railway stations has mostly been limited to the effects of accessibility improvements, this paper aims to investigate whether external effects arise when railway stations are redeveloped for purposes of renovation and replacement of aged and deteriorated station buildings and their direct surroundings. A hedonic pricing model in the context of a difference-in-difference analysis is applied on a dataset of house sale transactions in the Netherlands. The results show that redevelopment efforts impact house prices positively. Impact differences are found between larger cities with a population of more than 100,000 residents and smaller cities in the dataset. Compared to earlier research on the external effects of either accessibility improvements or revitalization of urban areas and neighborhoods, findings suggest that the effects of redevelopment of railway stations are moderate. The findings add evidence and new insights to existing research on redevelopment and public investments.
| Item Type: | Thesis (Master) |
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| Degree programme: | Real Estate Studies |
| Supervisor: | Liu, X. and Duijn, M. van |
| Date Deposited: | 23 Apr 2020 05:14 |
| Last Modified: | 23 Apr 2020 05:14 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/269 |
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