The Impact of Access to Public Transportation on Residential Property Value: A Comparative Analysis of American Cities
By Moses Snow Wayne
This paper develops a consistent model for analyzing the impact of access to public transportation on property value applied to the four cities of Atlanta, Boston, New York, and San Francisco. This study finds a negative relationship between increasing distance to public transit and property value. Additionally, the elicited effects in each city generally align with geographic features and the degree to which a city is monocentric. This study also demonstrates the salience of using actual map-generated distances as proximity measures and characteristics of public
transit systems in modeling the relationship between public transportation and residential property value.
Advisors: Dr. Patrick Bayer and Kent Kimbrough | JEL Codes: C12, R14, R30, R41
Understanding the Value of Amenities: A Study of the Land Value Determination Process in Hangzhou, China
By Ching-Ching Chen
This paper seeks to investigate the determinants of land within Hangzhou China. There are two main goals that the research paper will attempt to address. The first is to build upon existing research on land pricing in terms of the theories outlined by the monocentric city and hedonic pricing models. Second, the paper will use a dataset of Hangzhou land sales transactions between the years of 2003 and 2011 to investigate the possible existence of “luxury residuals” among commercial and residential land parcels. Nonetheless, due to the presence of large residuals, while Chinese consumers value certain amenities is not fully captured by these results. Rather, a number of case studies or outliers are used to fully examine the influences of these amenity variables in driving extreme prices. The result support the hypothesis that China, located at the bottom of Kuznets environmental curve, values amenities at extreme levels as a result of scarcity.
Advisor: Charles Becker | JEL Codes: Q51, R0, R14, R52 | Tagged: