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Accessibility of Real Estate by Transportation as a Determinant of the Development of Suburban Real Estate Markets – Case Study

Accessibility of Real Estate by Transportation as a Determinant of the Development of Suburban... Abstract The aim of this article is to show the accessibility of real estate by transportation as a factor that significantly determines the decision to acquire it. Direct access to a public road, or access to an internal road that provides communication with the public road, are a factor affecting the value of real estate. In addition, this factor is taken into account in the process of changing the function of the area, especially in determining zoning and land use. The decision of purchasing real estate often depends on transportation accessibility, because it has an impact on developing the selected plot. Suburban real estate markets, as markets exposed to particularly strong investment pressure, develop depending on the influx of external investors and the local transportation network. Here, the smaller the distance from the city center, the greater the building concentration; nevertheless, it is still important to improve transportation links and create a well-developed local transportation network. The provision of access to main roads on the rapidly growing market is in the interest of local authorities implementing spatial policy. It is also a challenge for real estate investors taking on the initiative in the scope of transforming land use. The analysis of the impact that transportation accessibility has on the development of the real estate market was conducted on the example of two selected suburban communes bordering the city of Olsztyn - Dywity and Stawiguda. Transactions on the local real estate market entered into during a period of five years were subjected to analysis. The results of the research revealed concentrations of transactions of real estate located on the outskirts of the city or in areas well-communicated with Olsztyn. The conducted research also indicates that, due to the activity of investors, a network of internal roads creating a complex structure was formed. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Real Estate Management and Valuation de Gruyter

Accessibility of Real Estate by Transportation as a Determinant of the Development of Suburban Real Estate Markets – Case Study

Real Estate Management and Valuation , Volume 24 (1) – Mar 1, 2016

Accessibility of Real Estate by Transportation as a Determinant of the Development of Suburban Real Estate Markets – Case Study


The aim of this article is to show the accessibility of real estate by transportation as a factor that significantly determines the decision to acquire it. Direct access to a public road, or access to an internal road that provides communication with the public road, are a factor affecting the value of real estate. In addition, this factor is taken into account in the process of changing the function of the area, especially in determining zoning and land use. The decision of purchasing real estate often depends on transportation accessibility, because it has an impact on developing the selected plot. Suburban real estate markets, as markets exposed to particularly strong investment pressure, develop depending on the influx of external investors and the local transportation network. Here, the smaller the distance from the city center, the greater the building concentration; nevertheless, it is still important to improve transportation links and create a well-developed local transportation network. The provision of access to main roads on the rapidly growing market is in the interest of local authorities implementing spatial policy. It is also a challenge for real estate investors taking on the initiative in the scope of transforming land use. The analysis of the impact that transportation accessibility has on the development of the real estate market was conducted on the example of two selected suburban communes bordering the city of Olsztyn - Dywity and Stawiguda. Transactions on the local real estate market entered into during a period of five years were subjected to analysis. The results of the research revealed concentrations of transactions of real estate located on the outskirts of the city or in areas well-communicated with Olsztyn. The conducted research also indicates that, due to the activity of investors, a network of internal roads creating a complex structure was formed. Key words: suburbanization, transportation, concentration, real estate market....
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Publisher
de Gruyter
Copyright
Copyright © 2016 by the
ISSN
2300-5289
eISSN
2300-5289
DOI
10.1515/remav-2016-0001
Publisher site
See Article on Publisher Site

Abstract

Abstract The aim of this article is to show the accessibility of real estate by transportation as a factor that significantly determines the decision to acquire it. Direct access to a public road, or access to an internal road that provides communication with the public road, are a factor affecting the value of real estate. In addition, this factor is taken into account in the process of changing the function of the area, especially in determining zoning and land use. The decision of purchasing real estate often depends on transportation accessibility, because it has an impact on developing the selected plot. Suburban real estate markets, as markets exposed to particularly strong investment pressure, develop depending on the influx of external investors and the local transportation network. Here, the smaller the distance from the city center, the greater the building concentration; nevertheless, it is still important to improve transportation links and create a well-developed local transportation network. The provision of access to main roads on the rapidly growing market is in the interest of local authorities implementing spatial policy. It is also a challenge for real estate investors taking on the initiative in the scope of transforming land use. The analysis of the impact that transportation accessibility has on the development of the real estate market was conducted on the example of two selected suburban communes bordering the city of Olsztyn - Dywity and Stawiguda. Transactions on the local real estate market entered into during a period of five years were subjected to analysis. The results of the research revealed concentrations of transactions of real estate located on the outskirts of the city or in areas well-communicated with Olsztyn. The conducted research also indicates that, due to the activity of investors, a network of internal roads creating a complex structure was formed.

Journal

Real Estate Management and Valuationde Gruyter

Published: Mar 1, 2016

References