Open AccessDOES RAIL TRANSPORT IMPACT HOUSE PRICES AND RENTS?
Author(s) -
Nursyazwani Abdullah Suhaimi,
Nurul Hana Adi Maimun,
Nurul Fazira Sa’at
Publication year - 2021
Publication title -
planning malaysia
Language(s) - English
Resource type - Journals
eISSN - 1675-6215
pISSN - 0128-0945
DOI - 10.21837/pm.v19i16.959
Subject(s) - economic rent , investment (military) , economics , business , microeconomics , politics , political science , law
Rail transport is one of the factors that boost economic growth. Increased accessibility while saving travel costs and time offered by rail transport attracts foreign and local investments, which lead to increased house prices and rents. Nonetheless, it is argued that noise pollution coming from rail transport may also reduce house prices and rents because these areas are less desirable for occupation and investment. Hence, this research aims to establish rail transport’s impact on house prices and rents through a critical review of the literature. An overview of previous studies shows that house prices and rents are significantly influenced by proximity to rail transports. This indicates that proximity to rail transports is accounted for when making house purchase and rent decisions. Thus, property valuers, planners, and developers should consider rail transport location in planning, developing, and valuing properties.