טכניון מכון טכנולוגי לישראל
הטכניון מכון טכנולוגי לישראל - בית הספר ללימודי מוסמכים  
M.Sc Thesis
M.Sc StudentFrieling Benjamin
SubjectImpact of Suburban Haifa Mass Transit Lines on Residential
Property Values
DepartmentDepartment of Civil and Environmental Engineering
Supervisor Professor Yoram Shiftan
Full Thesis textFull thesis text - English Version


Abstract

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operty Valuesban Haifa Mass tran     The valuation of a residential apartment for sale consists of many factors including transit access. Recent efforts by Israeli cities to permit taller buildings in proximity to existing and planned rapid transit lines underscore the importance of understanding the impacts of a mixture of policies on property valuations. Existing literature shows both positive and negative land value effects within bus rapid transit (BRT), light rail transit (LRT), commuter rail, and metro catchment basin areas depending on the local populace’s travel patterns, socio-economic well-being, and the effectiveness of the transit network. Due to the variability of results in the literature, a study of two Haifa suburbs (Qiryat Motzkin and Qiryat Bialik) located alongside a BRT line (Metronit Red Line or Line 1) was undertaken to investigate local trends.

The analysis of apartment, building, distance, and time attributes of several thousand residential properties sold between 2010-2016 utilized four distinct hedonic pricing method (HPM) models: a “before” and an “after” state for each city separately. Results from Qiryat Motzkin emphasized the strongest land value uplift from “before” to “after” within 250-500 meters of Metronit stations, with less strong effects within 0-250 meters. Data from Qiryat Bialik displayed negative price implications in both rings of 0-250 and 250-500 meters, with stronger effects after Metronit operations began. A new bypass highway and future development to the east together discouraged land value uplift within the Metronit corridor of Qiryat Bialik. A simultaneous positive and negative land value effect from one BRT line in two similar cities accentuates geography and alternatives in the context of land or travel demand forecasts.