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We use a hedonic house price model to estimate the value of transport networks to homeowners in the Dublin area. Using a data set of house sales and data on rail lines in Dublin, we assess the values assigned to different transport links by homeowners. We find that the value attributed to transport depends on its distance from a property and is affected by the availability of alternative transport options. There are differences in the values assigned to recently constructed tramlines compared to the traditional rapid transit train stations. The study also takes into account house characteristics and other environmental amenities.
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Mayor et al. (2012) studied this question.
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