Does planning matter? Effects on land markets

Wenjie Wu, Guanpeng Dong, Bing Wang

Research output: Contribution to journalArticle

9 Citations (Scopus)

Abstract

This paper uses a spatial multi-intervention difference-in-difference method to examine the opening and planning impacts of transport improvements on land markets in a mega-city of China. The results suggest the significant heterogeneity in the capitalization effects from changes in rail access on prices for different land uses in affected areas versus unaffected areas. Residential and commercial land parcels receiving increased station proximity experience appreciable price premiums. However, such effects vary widely over space. These results add to the evidence that public investments have an important role to play in spurring the spatially targeted land market.

Original languageEnglish
Pages (from-to)242-269
Number of pages28
JournalJournal of Real Estate Finance and Economics
Volume50
Issue number2
DOIs
Publication statusPublished - 2015

Keywords

  • China
  • Land markets
  • Transport infrastructure

ASJC Scopus subject areas

  • Urban Studies
  • Economics and Econometrics
  • Accounting
  • Finance

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