Should any new light rail line provide real estate gains, or not? The case of the T3 line in Paris
place - europe, mode - tram/light rail, land use - impacts, economics, infrastructure
Light rail, Paris, Accessibility, Hedonic models, Real estate gains, Land rents
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.
Permission to publish the abstract has been given by Elsevier, copyright remains with them.
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.