The Fourth Transportation Student Research Symposium
Abstract Detail
| Name | School | Title of presentation |
| Carlos H Mojica | MIT | Capitalization of BRT Network and its Effects on Land Prices |
|
Capitalization of BRT network effects into land prices A generalized before-and-after evaluation relying on hedonic models is used to value the network and the local access effects of an extension to Bogotá’s BRT system. Properties already served by the BRT but benefiting from the enhanced regional access provided by the extension are used to assess the network effects of the investment, relative to properties in a control area. Similarly, properties previously without walking access to the BRT but now served by the extension are used to determine the local effects relative to their control counterparts. Results suggest that properties offered during the year the extension was inaugurated and in subsequent years had higher asking prices ranging between 15% and 20% relative to properties in the control area. For the local access effect, asking prices did not appear consistently higher after the BRT service was introduced. Limitations of the study and implications of the findings are discussed. |
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