How much do users value a network expansion? Evidence from the public transit system in Singapore

We estimate the network effects of a public transit system by examining the impact of its expansion on housing prices. Our results show that a major expansion of Singapore's Mass Rapid Transit (MRT) system increased the price of apartments within 0.5 km of a pre-expansion station by 1.8% relati...

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Main Authors:	FESSELMEYER, Eric, LIU, Haoming
格式:	text
語言:	English
出版:	Institutional Knowledge at Singapore Management University 2018
主題:	Public transportation Housing Network effects Transportation Urban Studies and Planning
在線閱讀:	https://ink.library.smu.edu.sg/cis_research_all/4 https://ink.library.smu.edu.sg/context/cis_research_all/article/1003/viewcontent/1_s2.0_S0166046217304374_main.pdf
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spelling	sg-smu-ink.cis_research_all-10032022-08-18T05:15:20Z How much do users value a network expansion? Evidence from the public transit system in Singapore FESSELMEYER, Eric LIU, Haoming We estimate the network effects of a public transit system by examining the impact of its expansion on housing prices. Our results show that a major expansion of Singapore's Mass Rapid Transit (MRT) system increased the price of apartments within 0.5 km of a pre-expansion station by 1.8% relative to apartments that were further away from a station. Evaluated at the mean housing price, the expansion increased the value of pre-connected apartments by at least S$455 million in aggregate, which is equivalent to 9% of the estimated S$5 billion cost of the expansion. 2018-07-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/cis_research_all/4 info:doi/10.1016/j.regsciurbeco.2018.04.010 https://ink.library.smu.edu.sg/context/cis_research_all/article/1003/viewcontent/1_s2.0_S0166046217304374_main.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection College of Integrative Studies eng Institutional Knowledge at Singapore Management University Public transportation Housing Network effects Transportation Urban Studies and Planning
institution	Singapore Management University
building	SMU Libraries
continent	Asia
country	Singapore Singapore
content_provider	SMU Libraries
collection	InK@SMU
language	English
topic	Public transportation Housing Network effects Transportation Urban Studies and Planning
spellingShingle	Public transportation Housing Network effects Transportation Urban Studies and Planning FESSELMEYER, Eric LIU, Haoming How much do users value a network expansion? Evidence from the public transit system in Singapore
description	We estimate the network effects of a public transit system by examining the impact of its expansion on housing prices. Our results show that a major expansion of Singapore's Mass Rapid Transit (MRT) system increased the price of apartments within 0.5 km of a pre-expansion station by 1.8% relative to apartments that were further away from a station. Evaluated at the mean housing price, the expansion increased the value of pre-connected apartments by at least S$455 million in aggregate, which is equivalent to 9% of the estimated S$5 billion cost of the expansion.
format	text
author	FESSELMEYER, Eric LIU, Haoming
author_facet	FESSELMEYER, Eric LIU, Haoming
author_sort	FESSELMEYER, Eric
title	How much do users value a network expansion? Evidence from the public transit system in Singapore
title_short	How much do users value a network expansion? Evidence from the public transit system in Singapore
title_full	How much do users value a network expansion? Evidence from the public transit system in Singapore
title_fullStr	How much do users value a network expansion? Evidence from the public transit system in Singapore
title_full_unstemmed	How much do users value a network expansion? Evidence from the public transit system in Singapore
title_sort	how much do users value a network expansion? evidence from the public transit system in singapore
publisher	Institutional Knowledge at Singapore Management University
publishDate	2018
url	https://ink.library.smu.edu.sg/cis_research_all/4 https://ink.library.smu.edu.sg/context/cis_research_all/article/1003/viewcontent/1_s2.0_S0166046217304374_main.pdf
_version_	1770567703656923136

How much do users value a network expansion? Evidence from the public transit system in Singapore

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