Forthcoming JRER Paper
Investigating
the Effect of Train Proximity on Apartment Prices: Haifa, Israel as a Case
Study
Boris A. Portnov
University of Haifa, Mount Carmel
Graduate School of Management
Haifa, 31905 Israel
Email:
portnov@nrem.haifa.ac.il |
Bella Genkin
University of Haifa, Mount Carmel
Graduate School of Management
Haifa, 31905 Israel
Email: belge77@walla.com |
Boaz Barzilay
University of Haifa, Mount Carmel
Graduate School of Management
Haifa, 31905 Israel
Email: boazbar@012.net.il |
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Abstract:
The present study investigates
the effect of urban rail on the market prices of residential properties,
considering train proximity as both a source of improved access and a local
disamenity. For the analysis, 926 housing sales in the city of Haifa, Israel
were used. The analysis indicates a relatively narrow buffer zone near train
tracks (about 50-100-m wide) that "absorbs" about 13% of price decline.
Beyond this zone, apartment prices rise to their "peaks" at approximately
100-150-m from the train tracks, and then decline by an average of 0.7% for
each additional 100-m increase in the train line distance.
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