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Title:

Transportation Accessibility and Multi-Unit Residential Property Rents - The Case of Rajshahi City, Bangladesh

Accession Number:

01554462

Record Type:

Component

Availability:

Transportation Research Board Business Office

500 Fifth Street, NW
Washington, DC 20001 United States

Abstract:

Little appears to be known about how the capitalization of transport accessibility in South Asian housing markets, which typically differ from those in industrialized countries. This study starts addressing this gap by providing empirical evidence about the nature and the magnitude of the value of accessibility as reflected by property rents in Rajshahi City, Bangladesh. Results of the SARAR spatial hedonic model estimated on 558 observations collected via in-person interviews conducted in June of 2006 indicate that the rent of a multi-unit dwelling decreases by 0.021% for every 1% increase in network access distance (NAD) to the nearest major road, by 0.030% for a 1% increase in NAD to the nearest health care facility, and by 0.014% for a 1% increase in NAD to the nearest small industry employment area. Conversely, rents of multi-unit dwellings within 300 m of a wholesale market are 12.3% lower than those of otherwise similar properties. Surprisingly, whether access roads are paved or not is not statistically significant, probably because of the dominance of walking, rickshaws use, and biking and the rarity of personal cars. Likewise, proximity to bus stops and to train stations is not statistically significant, possibly because they only provide regional and national service. These results should be useful for crafting measures to fund transportation infrastructure in Southeast Asian cities like Rajshahi.

Supplemental Notes:

Alternate title: Transportation Accessibility and Multiunit Residential Property Rents: Case of Rajshahi City, Bangladesh. This paper was sponsored by TRB committee ADD30 Transportation and Land Development.

Monograph Accession #:

01550057

Report/Paper Numbers:

15-2425

Language:

English

Corporate Authors:

Transportation Research Board

500 Fifth Street, NW
Washington, DC 20001 United States

Authors:

Mitra, Suman K
Saphores, Jean-Daniel M

Pagination:

22p

Publication Date:

2015

Conference:

Transportation Research Board 94th Annual Meeting

Location: Washington DC, United States
Date: 2015-1-11 to 2015-1-15
Sponsors: Transportation Research Board

Media Type:

Digital/other

Features:

Figures; Maps; References; Tables

Geographic Terms:

Rajshahi (Bangladesh)

Subject Areas:

Economics; Transportation (General); I10: Economics and Administration

Source Data:

Transportation Research Board Annual Meeting 2015 Paper #15-2425

Files:

TRIS, TRB, ATRI

Created Date:

Dec 30 2014 12:51PM