Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/267967 
Year of Publication: 
2022
Series/Report no.: 
MUNI ECON Working Paper No. 2022-05
Publisher: 
Masaryk University, Faculty of Economics and Administration, Brno
Abstract: 
This paper studies the impact of expected transport accessibility improvement on house prices. We identify the effect exploiting a quasi-natural experiment created by the approval and construction of the Ryfast tunnel system in Rogaland, Norway, which shortened the travelling time to the affected municipality from 62 to 24 minutes. Estimates of a repeated sales model in a difference-in-differences framework show that the expectation of improvement in transport accessibility connected with the construction of the tunnel system led to an increase in house prices by 10.1–12.8\% on average. That effect grew as the opening of the tunnel drew closer and was driven by less valuable houses.
Subjects: 
transport accessibility
expectations
house prices
Ryfast tunnel system
construction
Norway
JEL: 
R3
R4
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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