Metro's night travel offer on the weekend and its impact on house prices
Journal
Transportation Research Part A: Policy and Practice
ISSN
0965-8564
ISSN-Digital
1879-2375
Type
journal article
Date Issued
2023-11-15
Author(s)
Abstract
We examine the impact of introducing a weekend metro night service on housing prices in Frankfurt, Germany. Our identification strategy combines a triple-differences design to estimate the average treatment effect on the treated (ATET). We find both statistically and economically significant ATETs. For housing units located within a 300 m distance of the night service trains, housing value experience an average 22 % increase within a one-year period following the schedule change. This is equivalent to an average increase in home value of EUR 109,835 , or a total value appreciation of the nearby housing stock of more than EUR 32 million. Further, we do not find evidence that the night service trains bring negative externalities, such as noise, for units located within 100 m of train stations.
Language
English
Keywords
House Prices
Night Travel
Noise Externalities
Transportation Infrastructure
Triple Differences Design
HSG Classification
contribution to scientific community
Refereed
Yes
Publisher
Elsevier
Volume
178
Number
103883
Start page
1
End page
33
Pages
33
Subject(s)
Contact Email Address
roland.fuess@unsig.ch
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Metro’s night travel offer on the weekend and its impact on house prices.pdf
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