Exploring difference in value uplift resulting from new bus rapid transit routes within a medium size metropolitan area

摘要

Studies have already attempted to measure the impact of the development of a new bus rapid transit (BRT) route on real estate values. So far, results have proven to be generally positive, while the impact varies considerably among cities. One of the reasons explaining such heterogeneity is based on the fact that empirical analyses are conducted for different cities using different methodologies. The paper proposes to deal with two main questions: is the impact of new BRT routes similar over different routes within a given metropolitan area? If not, is the variation of the estimated impact for different BRT routes related to the characteristics of their stops? The empirical analysis is conducted using information on the implementation of seven distinct BRT routes between 1992 and 2011. Using information on single-family housing transactions in the Quebec metropolitan area (Canada) between 1986 and 2015 with a difference-in-differences (DID) estimator using a repeated sales approach for seven distinct BRT routes, the empirical investigation reveals that the impact varies between routes and, when significant, the impact is spatially concentrated. An exploratory analysis shows that there exists some statistical relation between characteristics of the stops along the routes and the impact estimated.