Should any new light rail line provide real estate gains, or not? The case of the T3 line in Paris

This paper presents a research to assess real estate gains brought by a new light rail infrastructure: the T3 tramway line in Paris opened in December 2006. Based on comprehensive geo-located data, it mainly focuses on econometric hedonic modelling where accessibility gains are included besides othe...

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Bibliographic Details
Published in:	Research in transportation economics Vol. 49; pp. 43 - 54
Main Authors:	Papon, Francis, Nguyen-Luong, Dany, Boucq, Elise
Format:	Journal Article
Language:	English
Published:	Elsevier Ltd 01-06-2015
Subjects:	Accessibility Hedonic models Land rents Light rail Paris Real estate gains Accessibility Light rail Real estate gains R15 Land rents Hedonic models Paris
Online Access:	Get full text
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Summary:	This paper presents a research to assess real estate gains brought by a new light rail infrastructure: the T3 tramway line in Paris opened in December 2006. Based on comprehensive geo-located data, it mainly focuses on econometric hedonic modelling where accessibility gains are included besides other intrinsic and extrinsic variables. In spite of different specifications, no model yielded any significant effect of the new line. Finally, the rationale for such an outcome is discussed, and by comparison with other studies, the factors for a new line to provide significant gains are listed.
ISSN:	0739-8859 1875-7979
DOI:	10.1016/j.retrec.2015.04.005