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Lecture by Jean-Daniel Saphores: The Impact of a Mass Rapid Transit System on Residential Property Values:The Case of Kaohsiung, Taiwan (3/1, Berkeley)

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  • Asha Weinstein Agrawal
    ... UC Berkeley ITS * Friday Transportation Seminar Series * Friday, March 1st 2013 4 - 5 p.m. in 502 Davis Hall, UC Berkeley Jean-Daniel Saphores, Ph.D.
    Message 1 of 1 , Feb 27, 2013
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      UC Berkeley ITS * Friday Transportation Seminar Series *

      Friday, March 1st 2013

      4 - 5 p.m. in 502 Davis Hall, UC Berkeley

      Jean-Daniel Saphores, Ph.D.

      Associate Professor of Civil and Environmental Engineering
      University of California, Irvine


      The Impact of a Mass Rapid Transit System on Residential Property Values:
      The Case of Kaohsiung, Taiwan


      Abstract: The construction of a public transit system in a large
      metropolitan area can relieve congestion, enhance mobility, and
      improve air quality. In a well-functioning housing market, these
      benefits will be reflected in housing prices. In this paper, we
      analyze transactions of apartments with elevators from 2007 and 2009
      in Kaohsiung (Taiwan’s second largest city) to capture the impact of
      the opening in 2008 of a new mass rapid transit (MRT) system. Our data
      includes time on market information (TOM) so we integrate two-stage
      least-squares in a geographically weighted regression model to tackle
      the joint determination of price and TOM while allowing for spatial
      non-stationarity. We find evidence of spatial non-stationarity but
      accounting for TOM has a negligible impact on our results. Moreover,
      the opening of the MRT had a statistically significant and positive
      impact on the value of apartments with elevators, although the value
      of this MRT was (surprisingly) not fully capitalized in the housing
      market in 2007.


      Bio: Jean-Daniel Saphores is an associate professor in civil and
      environmental engineering at the University of California, Irvine. He
      earned a PhD in applied economics as well as a Master in
      environmental systems engineering from Cornell University. His
      research interests include transportation systems and environmental
      systems

      Please join us for a TRANSOC-sponsored Cookie Hour in the ITS Library
      at 3:30 PM.
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