The Impact of Railway Networks on Residential Land Values within Transit-Oriented Development Areas

DOI

Abstract

<p>The concept of transit-oriented development (TOD) is expected to bring externalities, one of which is indirectly affecting the residential land values within the area. In Tokyo and its suburbs, where people are heavily dependent on train networks, some station-area neighborhoods and railway lines may have intrinsic values, caused by either the quality and service of each neighborhood and line or other, unobservable traits. In this paper, the effect of TOD characteristics and different railway lines on residential land values are analyzed by utilizing the multiple membership multilevel model. The result emphasizes three things. First, several TOD factors significantly affect residential land value. Second, differences across railway lines are responsible for creating a large share of land value variations. Third, the effects are largest for the lines serving areas south to west of Tokyo in comparison with other selected railway lines.</p>

Journal

Details 詳細情報について

  • CRID
    1390283659846123264
  • NII Article ID
    130007790401
  • DOI
    10.11175/easts.13.1216
  • ISSN
    18811124
  • Text Lang
    en
  • Data Source
    • JaLC
    • CiNii Articles
  • Abstract License Flag
    Disallowed

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