The Journal of Real Estate Finance and Economics

, Volume 50, Issue 2, pp 242–269 | Cite as

Does Planning Matter? Effects on Land Markets

Article

Abstract

This paper uses a spatial multi-intervention difference-in-difference method to examine the opening and planning impacts of transport improvements on land markets in a mega-city of China. The results suggest the significant heterogeneity in the capitalization effects from changes in rail access on prices for different land uses in affected areas versus unaffected areas. Residential and commercial land parcels receiving increased station proximity experience appreciable price premiums. However, such effects vary widely over space. These results add to the evidence that public investments have an important role to play in spurring the spatially targeted land market.

Keywords

Land markets Transport infrastructure China 

JEL Classification

H41 Q51 R41 

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Copyright information

© Springer Science+Business Media New York 2014

Authors and Affiliations

  1. 1.Urban Studies, School of Social and Political SciencesUniversity of GlasgowGlasgowUK
  2. 2.School of Geographical SciencesUniversity of BristolBristolUK
  3. 3.College of EconomicsJi Nan UniversityGuangzhouChina

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