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

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.

A methodology for identifying critical factors influencing land value in urban areas: a case study of Kerala, India

“…RII ranking identified three variables from the total nine variables in this subcategory on the top 25 list. The highest-ranked variable under this subcategory is “road accessibility type and width.” Several studies suggested that accessibility to road and its width are one of the crucial factor influencing land value (Radziszewska and Jaroszewicz, 2013; Wolny, 2016; Czinkan and Horváth, 2019). Road accessibility is ranked fourth with an RII value of 0.94 by the respondents.…”

“…A geographic location is found to be the most crucial factor influencing land value (van Duijn and Rouwendal, 2012; Theisen and Emblem, 2018; Jayasekare et al , 2019; Serocka, 2019). Factors like transport and physical accessibility also have a profound influence (Lake et al , 2000; Wolny, 2016). Social, technological and economic factors are also considered as vital factors (Henneberry, 1998).…”

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