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

Authors

Francis Papon
Dany Nguyen-Luong
Elise Boucq

Document Type

Journal Article

Publication Date

2015

Subject Area

place - europe, mode - tram/light rail, land use - impacts, economics, infrastructure

Keywords

Light rail, Paris, Accessibility, Hedonic models, Real estate gains, Land rents

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.

Rights

Permission to publish the abstract has been given by Elsevier, copyright remains with them.

Comments

Research in Transportation Economics Home Page:

http://www.sciencedirect.com/science/journal/07398859

Recommended Citation

Papon, F., Nguyen-Luong, D., & Boucq, E. (2015). Should any new light rail line provide real estate gains, or not? The case of the T3 line in Paris. Research in Transportation Economics, Available online 8 May 2015. In Press, Corrected Proof.