1. Where rents are driven by quality of public services, not proximity to transit
- Author:
- Ammar A. Malik and Harsh Parikh
- Publication Date:
- 08-2017
- Content Type:
- Commentary and Analysis
- Institution:
- Urban Institute
- Abstract:
- Urban residents around the world know that housing close to mass transit commands a price premium. Living near transit stations saves residents time and money, which is reflected in rents. Studies evaluating the impact of bus rapid transit (BRT) services in Beijing, China, and Brisbane, Australia, have found rents of properties near stations to be 10 and 20 percent higher than those farther away. The value of properties within six miles of mass urban transit are known to increase two to three times faster than those outside. But does this relationship hold true everywhere? And what factors complicate it?
- Topic:
- Infrastructure, Transportation, Rent, and Public Service
- Political Geography:
- China, Asia, and Australia