WEKO3
Item
The Impact of Urban Transportation Investment on Property Values : Evidence from the Jakarta’s Mass Rapid Transit (MRT)
https://doi.org/10.18999/disp.217.1
https://doi.org/10.18999/disp.217.14e73f717-7124-43dc-a210-835be983b384
| Name / File | License | Actions |
|---|---|---|
Discussion_PP_Shimizutani_217.pdf (1.0 MB)
|
|
| Item type | itemtype_ver1(1) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PubDate | 2024-09-20 | |||||||||||
| Title | ||||||||||||
| Title | The Impact of Urban Transportation Investment on Property Values : Evidence from the Jakarta’s Mass Rapid Transit (MRT) | |||||||||||
| Language | en | |||||||||||
| Creator |
Shimizutani, Satoshi
× Shimizutani, Satoshi
× Suzuki, Tomoyoshi
× Yamada, Eiji
|
|||||||||||
| Access Right | ||||||||||||
| Access Rights | open access | |||||||||||
| Access Rights URI | http://purl.org/coar/access_right/c_abf2 | |||||||||||
| Keyword | ||||||||||||
| Subject Scheme | Other | |||||||||||
| Subject | Mass rapid transit (MRT) | |||||||||||
| Keyword | ||||||||||||
| Subject Scheme | Other | |||||||||||
| Subject | property values | |||||||||||
| Keyword | ||||||||||||
| Subject Scheme | Other | |||||||||||
| Subject | rents | |||||||||||
| Keyword | ||||||||||||
| Subject Scheme | Other | |||||||||||
| Subject | Indonesia | |||||||||||
| Keyword | ||||||||||||
| Subject Scheme | Other | |||||||||||
| Subject | Jakarta | |||||||||||
| Description | ||||||||||||
| Description Type | Abstract | |||||||||||
| Description | Urban transportation infrastructure remains underdeveloped in many low- and middle-income countries and quantitative evidence on impact is limited. We examine the effect of the Jakarta Mass Rapid Transit (MRT), Indonesia’s first urban railway project, on property values. Using a panel dataset of rents for commercial offices and residential apartments along the MRT line, we apply a difference-in-differences estimation to assess the impact of the MRT opening in a quasi-natural experimental setting. We find negative and significant impact of the MRT opening on commercial office rents in areas close to MRT stations, while no significant impact is observed on residential apartments. We argue that the negative impact on commercial offices may be driven by oversupply of rental office properties. Our results suggest that property values may not necessarily increase with urban transit development, posing a challenge for practitioners pursuing transit-oriented development (TOD) and land value capture (LVC) financing for infrastructure. | |||||||||||
| Language | en | |||||||||||
| Publisher | ||||||||||||
| Publisher | 名古屋大学大学院国際開発研究科 | |||||||||||
| Language | ja | |||||||||||
| Publisher | ||||||||||||
| Publisher | Graduate School of International Development, Nagoya University | |||||||||||
| Language | en | |||||||||||
| Language | ||||||||||||
| Language | eng | |||||||||||
| Resource Type | ||||||||||||
| Resource Type Identifier | http://purl.org/coar/resource_type/c_6501 | |||||||||||
| Resource Type | departmental bulletin paper | |||||||||||
| Article Version | ||||||||||||
| Version Type | VoR | |||||||||||
| Version Type Resource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||||||||
| Identifier Registration | ||||||||||||
| Identifier Registration | 10.18999/disp.217.1 | |||||||||||
| Identifier Registration Type | JaLC | |||||||||||
| Bibliographic Info |
en : GSID Discussion Paper Issue Number 217, p. 1-41, Issue Date 2024-09 |
|||||||||||
