This research will analyze and compare the effect that rail transit stations have on condominiums and single family home values in San Diego, CA. It is hypothesized that the type of household on the market for a condominium will value rail proximity more than those on the single family market. Therefore, one would expect the capitalization benefits to be greater for condominiums. Past research has shown that property near rail stations sells at a modest premium (between 0-10 percent) in many US cities. However, most of these studies focus on single family homes. Using hedonic price models, this research found that condominiums received capitalization benefits in excess of 10 percent while single family properties fell within the typical range.
Samenvatting