The effect of locations of central metro stations on real estate values. A case study of Thessaloniki, Greece.
<p>Almost all of the most populated cities in the world have invested heavily on high capacity urban public transit systems. Apart from the direct economic benefits –travel time reduction, environmental benefits, some indirect benefits are the increase in real estate values (residential and co...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Università di Napoli Federico II
2012-07-01
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| Series: | TeMA: Journal of Land Use, Mobility and Environment |
| Subjects: | |
| Online Access: | http://www.tema.unina.it/index.php/tema/article/view/860 |
| _version_ | 1797230054965510144 |
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| author | Agapi Xifilidou Nikolaos Karanikolas Spyridon Spatalas |
| author_facet | Agapi Xifilidou Nikolaos Karanikolas Spyridon Spatalas |
| author_sort | Agapi Xifilidou |
| collection | DOAJ |
| description | <p>Almost all of the most populated cities in the world have invested heavily on high capacity urban public transit systems. Apart from the direct economic benefits –travel time reduction, environmental benefits, some indirect benefits are the increase in real estate values (residential and commercial), improved accessibility and possible land use changes towards the development of an area. This study investigates the impact of the future central metro stations of Thessaloniki on real estate values. Real estate values can increase up to 11,3% at a distance shorter than 50 m and gradually decrease up to -14% for a distance greater than 500 m. A hedonic analysis is presented so as to determine the influence of metro stations to 52 commercial properties. The results of the investigation indicate that the changes in market are not necessarily connected or totally attributed to the construction of the metro stations. Instead interesting results show that in some cases common belief about the impact of urban public transit systems can be slightly different.</p> |
| first_indexed | 2024-04-24T15:22:24Z |
| format | Article |
| id | doaj.art-723d82f9de794405b9786b1d2c81865b |
| institution | Directory Open Access Journal |
| issn | 1970-9889 1970-9870 |
| language | English |
| last_indexed | 2024-04-24T15:22:24Z |
| publishDate | 2012-07-01 |
| publisher | Università di Napoli Federico II |
| record_format | Article |
| series | TeMA: Journal of Land Use, Mobility and Environment |
| spelling | doaj.art-723d82f9de794405b9786b1d2c81865b2024-04-02T07:27:37ZengUniversità di Napoli Federico IITeMA: Journal of Land Use, Mobility and Environment1970-98891970-98702012-07-015218519410.6092/1970-9870/860619The effect of locations of central metro stations on real estate values. A case study of Thessaloniki, Greece.Agapi Xifilidou0Nikolaos Karanikolas1Spyridon Spatalas2Department of Rural and Surveying Engineering- AUTHSchool of Spatial Planning and DevelopmenDepartment of Rural and Surveying Engineering- AUTH<p>Almost all of the most populated cities in the world have invested heavily on high capacity urban public transit systems. Apart from the direct economic benefits –travel time reduction, environmental benefits, some indirect benefits are the increase in real estate values (residential and commercial), improved accessibility and possible land use changes towards the development of an area. This study investigates the impact of the future central metro stations of Thessaloniki on real estate values. Real estate values can increase up to 11,3% at a distance shorter than 50 m and gradually decrease up to -14% for a distance greater than 500 m. A hedonic analysis is presented so as to determine the influence of metro stations to 52 commercial properties. The results of the investigation indicate that the changes in market are not necessarily connected or totally attributed to the construction of the metro stations. Instead interesting results show that in some cases common belief about the impact of urban public transit systems can be slightly different.</p>http://www.tema.unina.it/index.php/tema/article/view/860Metro stations, real estate values, Thessaloniki |
| spellingShingle | Agapi Xifilidou Nikolaos Karanikolas Spyridon Spatalas The effect of locations of central metro stations on real estate values. A case study of Thessaloniki, Greece. TeMA: Journal of Land Use, Mobility and Environment Metro stations, real estate values, Thessaloniki |
| title | The effect of locations of central metro stations on real estate values. A case study of Thessaloniki, Greece. |
| title_full | The effect of locations of central metro stations on real estate values. A case study of Thessaloniki, Greece. |
| title_fullStr | The effect of locations of central metro stations on real estate values. A case study of Thessaloniki, Greece. |
| title_full_unstemmed | The effect of locations of central metro stations on real estate values. A case study of Thessaloniki, Greece. |
| title_short | The effect of locations of central metro stations on real estate values. A case study of Thessaloniki, Greece. |
| title_sort | effect of locations of central metro stations on real estate values a case study of thessaloniki greece |
| topic | Metro stations, real estate values, Thessaloniki |
| url | http://www.tema.unina.it/index.php/tema/article/view/860 |
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