The Effects of Downtown Line MRT on Property Values
||Ong, Seow Eng; Calvin Chau, Jianmei Wu
||The Effects of Downtown Line MRT on Property Values
||24th Annual European Real Estate Society Conference in Delft, Netherlands
||The Downtown Line was announced on 3 July 2009 providing a much needed mass rapid transit from the central part of Singapore to downtown CBD. This study studies the economic value of Downtown Line on property prices along Bukit Timah and Dunearn Road (prime residential areas) using a difference-in-difference approach. We seek to valide the premium for residential units located within walking distance of public rail network, as well as provide an added dimension on the Singapore's housing prices with proximity to a rail network, with an up-to-date look on the latest network addition. The policy implications, such as government intervention on the densification efforts surrounding stations located away from downtown, will be examined.
||train lines; accessibility; proximity; residential values; transport network
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||Real Estate Markets & Economics
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