打印

作者

来源

JOURNAL OF HOUSING AND THE BUILT ENVIRONMENT,Vol.33,Issue2,P.359-384

语言

英文

关键字

Housing market; Hedonic methods; Subway; Property prices; REAL-ESTATE VALUES; HOUSE PRICES; TRANSPORT INNOVATIONS; RAIL TRANSPORT; IMPACT; LINE; CAPITALIZATION; PROXIMITY; SYSTEMS; MODELS

作者单位

[Trojanek, Radoslaw] Poznan Univ Econ & Business, Dept Microecon, Al Niepodleglosci 10, PL-61875 Poznan, Poland. [Gluszak, Michal] Cracow Univ Econ, Dept Real Estate & Investment Econ, Ul Rakowicka 27, PL-31510 Krakow, Poland. Trojanek, R (reprint author), Poznan Univ Econ & Business, Dept Microecon, Al Niepodleglosci 10, PL-61875 Poznan, Poland. E-Mail: r.trojanek@ue.poznan.pl; gluszakm@uek.krakow.pl

摘要

The paper analyzes both spatial and time effects of subway availability on apartment prices in Warsaw, the only city in Poland with rapid urban transit system. The research is based on a data set of 34,274 geo-coded apartment transactions for the years 2008-2015 in Warsaw. For data analysis the hedonic method was used in OLS, SAR, SEM and SGM models. Additionally we used DiD approach to address potential endogeneity. We found strong evidence that the new subway line (M2) in Warsaw influenced apartment prices even before it was completed. We observed a steady price premium adjustment process related to the new subway line. The findings confirm our hypothesis and are in line with previous research carried out in other parts of the world.