Abstracts – Browse Results
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Bhagwat, K and Venkata Santosh Kumar, D (2022) A systematic review of construction safety research: quantitative and qualitative content analysis approach. Built Environment Project and Asset Management, 12(2), 243-61.
Chipozya Kosta, T, Muleya, F and Phiri, E (2022) Demystifying performance difference between local and foreign contractors through organisational culture. Built Environment Project and Asset Management, 12(2), 325-44.
Henry Duncan John, M, Amoah, C and Ayesu-Koranteng, E (2022) Causes of road projects' delays: a case of Blantyre, Malawi. Built Environment Project and Asset Management, 12(2), 293-308.
Heravi, G, Taherkhani, A H, Sobhkhiz, S, Mashhadi, A H and Zahiri-Hashemi, R (2022) Integrating risk management's best practices to estimate deep excavation projects' time and cost. Built Environment Project and Asset Management, 12(2), 180-204.
Jayantha Wadu, M and Maqsood, T (2022) Transport infrastructure, accessibility and residential property values: evidence from Hong Kong. Built Environment Project and Asset Management, 12(2), 163-79.
- Type: Journal Article
- Keywords: transportation development; accessibility enhancement; residential property values; Hong Kong; infrastructure; property values; USA; New Jersey
- ISBN/ISSN:
- URL: http://dx.doi.org/10.1108/BEPAM-01-2021-0019
- Abstract:
Hong Kong, like many other developed cities and countries, invests heavily in transport development. This study investigates whether the speculative benefits of future improvements in accessibility, brought about by impending transport development, will be capitalized into nearby residential property values even prior to the opening of the development. Deviating from the standard hedonic price approach, the present study employed a fixed-effects model with a large data set of residential property transactions in the vicinity of three-stations situated along a newly proposed mass-transit-railway line in Hong Kong. The results suggest that the values of residential properties close to stations do reflect the accessibility enhancements to be brought about by transport improvements even before the opening of the line. Results revealed a 6.5% of property value premium after the announcement of construction; and higher up to 6.7% after the operation of the line. This indicates that forthcoming new transport-infrastructure development produces changes in spatial price-gradients for neighbouring residential properties. Findings indicate that potential buyers/investors recognized the positive benefits of the planned transportation development, even before completion of the project, and are ready to pay a premium for those properties close to railway stations, representing clear evidence that residential property prices/values, near stations, reflect anticipated accessibility enhancements brought about by transport improvements. This study, using a novel approach - a fixed-effects model to capture the speculative benefits of future improvements in transport infrastructure - provides a positive hypothesis that expected benefits of future improvements in accessibility are capitalized into property values.
Kaluarachchi, M, Waidyasekara, K and Rameezdeen, R (2022) Antecedents of noise pollution control behaviour of employees of construction companies. Built Environment Project and Asset Management, 12(2), 277-92.
Kamardeen, I (2022) Work stress related cardiovascular diseases among construction professionals. Built Environment Project and Asset Management, 12(2), 223-42.
Martek, I, Edwards, D J, Seaton, S and Jones, D (2022) An appraisal of Australia's approach to promoting urban sustainability. Built Environment Project and Asset Management, 12(2), 262-76.
Nguyen Van, D, Le Dinh, T and Tran, H-B (2022) Assessing stakeholder satisfaction in PPP transport projects in developing countries: evidence from Vietnam. Built Environment Project and Asset Management, 12(2), 309-24.
Nyamagere Gladys, S, Rwelamila, P D and Gimbi, J J (2022) A conceptual framework for managing post-disaster reconstruction projects in emerging economies: the case of Angola. Built Environment Project and Asset Management, 12(2), 205-22.
Stanitsas, M and Kirytopoulos, K (2022) Underlying factors for successful project management to construct sustainable built assets. Built Environment Project and Asset Management, 12(2), 129-46.
Zeb, J (2022) A level of service framework for service-centric asset management planning. Built Environment Project and Asset Management, 12(2), 147-62.