Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/87081
Authors: 
Koster, Hans R.A.
van Ommeren, Jos N.
Rietveld, Piet
Year of Publication: 
2010
Series/Report no.: 
Tinbergen Institute Discussion Paper 10-094/3
Abstract: 
In this paper we investigate the effects of new railway stations on house prices using an extensive repeated sales dataset over a period of 13 years. We employ semiparametric panel data techniques allowing for anticipation effects of station openings. We show that a kilometre reduction in distance to the nearest railway station increases property values by about 1.5 - 2 percent. The geographical range of the effect is about 3.5 kilometres. Ignoring anticipation effects in the estimation procedure leads to a large downward bias for short time period datasets. We do not find any significant house price adjustment effects after station openings.
Subjects: 
House prices
Anticipation effects
Repeated sales
Railway development
Semiparametric
JEL: 
R21
R40
R41
R42
Document Type: 
Working Paper

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