Abstract Improvement in the built environment is an essential component of transit-oriented development; however, the economic effects of such investments have not yet been fully understood because their investigation requires a suitable empirical case. Using the decentralized development of station plazas, this study identified the conditions under which plaza development raises the economic value of the surrounding areas. We empirically analyzed the impact of station plaza development on the land prices of 3870 properties in the surrounding areas at 181 of the 1556 stations in the Tokyo Metropolitan Area from 2000 to 2010, where station plazas were developed for the revitalization of station areas in a mature urban economy. Mahalanobis distance matching was applied to obtain the treatment effect, and the heterogeneity in the effects on the land price of properties by land-use pattern and geographical location was analyzed. The results showed that the properties benefited from station plaza development depending on the accessibility to and from the nearest station and the Tokyo Station (the central station) and their land-use patterns. The study found that there could be a redistributive effect in that the plaza development had positive effects on land price changes around the stations and negative effects in places far from the stations.

    Highlights Impacts of railway station plaza development on land prices are analyzed. Empirical data in the Tokyo Metropolitan Area in 2000 and 2010 are used. The effect of plaza development is estimated with Mahalanobis distance matching. Station plaza development has heterogeneous effects on land price.


    Zugriff

    Zugriff prüfen

    Verfügbarkeit in meiner Bibliothek prüfen

    Bestellung bei Subito €


    Exportieren, teilen und zitieren



    Titel :

    Development of railway station plazas: Impact on land prices of surrounding areas


    Beteiligte:
    Morikawa, So (Autor:in) / Aoyama, Miwa (Autor:in) / Kato, Hironori (Autor:in)

    Erschienen in:

    Transport Policy ; 142 ; 1-14


    Erscheinungsdatum :

    2023-06-05


    Format / Umfang :

    14 pages




    Medientyp :

    Aufsatz (Zeitschrift)


    Format :

    Elektronische Ressource


    Sprache :

    Englisch




    Metro Station Surrounding Land-Use Development Strategy

    Xue, Zhi Qiang ;Yao, Sheng Yong ;Chen, Jin Jie | Trans Tech Publications | 2014


    Proposed Level-of-Service Methodology for Tall Plazas

    Klodzinski, Jack | Online Contents | 2002


    Traffic regulation at street crossings and plazas

    Bethge, W. | Engineering Index Backfile | 1927


    Chasis para cochecito infantil con dos plazas

    JANÉ SANTAMARÍA MANUEL | Europäisches Patentamt | 2015

    Freier Zugriff

    Traffic crashes at toll plazas in Hong Kong

    Sze, N.N. | Online Contents | 2008