Metro’s night travel offer on the weekend and its impact on house prices

Authors

Zheng Chang
Roland Füss
Johannes von Möllendorff
Jon Olaf Olaussen
Alois Weigand

Document Type

Journal Article

Publication Date

2023

Subject Area

land use - impacts, mode - subway/metro, place - europe, place - urban

Keywords

House Prices, Night Travel, Noise Externalities, Transportation Infrastructure, Triple Differences Design

Abstract

We examine the impact of introducing a weekend metro night service on housing prices in Frankfurt, Germany. Our identification strategy combines a triple-differences design to estimate the average treatment effect on the treated (ATET). We find both statistically and economically significant ATETs. For housing units located within a 300 m distance of the night service trains, housing value experience an average 22 % increase within a one-year period following the schedule change. This is equivalent to an average increase in home value of EUR 109,835 , or a total value appreciation of the nearby housing stock of more than EUR 32 million. Further, we do not find evidence that the night service trains bring negative externalities, such as noise, for units located within 100 m of train stations.

Rights

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

Comments

Transportation Research Part A Home Page:

http://www.sciencedirect.com/science/journal/09658564

Recommended Citation

Chang, Z., Füss, R., Von Möllendorff, J., Olaussen, J. O., & Weigand, A. (2023). Metro’s night travel offer on the weekend and its impact on house prices. Transportation Research Part A: Policy and Practice, 178, 103883.