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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| Published in: | Research in transportation economics Vol. 49; pp. 43 - 54 |
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| Format: | Journal Article |
| Language: | English |
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01-06-2015
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| Abstract | 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. |
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| AbstractList | 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. |
| Author | Boucq, Elise Papon, Francis Nguyen-Luong, Dany |
| Author_xml | – sequence: 1 givenname: Francis surname: Papon fullname: Papon, Francis email: francis.papon@ifsttar.fr organization: Université Paris-Est (UPE), French Institute of Science and Technology for Transport, Development and Networks (IFSTTAR), Department for Planning, Mobility and Environment (AME), Laboratory Economic and Social Dynamics of Transport (DEST), F-77447 Marne-la-Vallée, France – sequence: 2 givenname: Dany surname: Nguyen-Luong fullname: Nguyen-Luong, Dany email: dany.nguyen-luong@iau-idf.fr organization: Institute for Urban Planning and Development of Paris Île-de-France Region (IAU), Paris, France – sequence: 3 givenname: Elise surname: Boucq fullname: Boucq, Elise email: elise.boucq@condorcet.be organization: Haute Ecole Condorcet, Hainaut, Belgium |
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| Cites_doi | 10.1016/j.tranpol.2011.01.012 10.1016/j.regsciurbeco.2003.09.001 10.3406/estat.2005.7210 10.1016/0166-0462(94)02085-U 10.1006/juec.2001.2214 10.1006/jhec.2000.0267 10.3406/ecop.1995.5766 10.1016/0304-4009(83)90031-1 10.1080/0042098042000309720 10.1016/j.tranpol.2010.06.005 10.1080/10511482.2001.9521419 10.1080/10835547.1996.12090830 10.2307/3146278 10.1177/0361198106197700123 10.1086/260169 10.3917/reru.014.0605 10.1086/257839 |
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| Keywords | Accessibility Light rail Real estate gains R15 Land rents Hedonic models Paris |
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| SubjectTerms | Accessibility Hedonic models Land rents Light rail Paris Real estate gains |
| Title | Should any new light rail line provide real estate gains, or not? The case of the T3 line in Paris |
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