The Impact of Metro Stations Construction on the Real Estate Commissioning in the Surrounding Areas

The impact of metro stations under construction on the dynamics of real estate commissioning in the adjacent territories from the moment of first mention in the media to the moment of commissioning is considered. The study was conducted on the example of the city of Moscow. Research results show that plans for the construction of metro facilities begin to influence the dynamics of real estate commissioning in the surrounding areas long before their actual implementation. The moment, when information about plans for the construction of new metro facilities becomes available to the public, can be taken as a starting point. Since the announcement of plans for the construction of the metro, the real estate commissioning in the surrounding areas may show several peaks. The first peak is observed 3–5 years after the announcement of construction plans, the second – in the project year of construction completion. The analysis showed the reduce in the volumes of real estate commissioning in the zone of influence of subway facilities after their construction, however, it is necessary to take into account the overall level of urban activity of territories.

S.O. MAKSIMOV (This email address is being protected from spambots. You need JavaScript enabled to view it.), Research Department, Project Manager

OOO NPTS «City Development» (structure 3, 19, Mira Avenue, 129090, Moscow, Russian Federation)

1. Kievskiy L.V., Kievskiy I.L. Transport construction priorities. «City development»: Сollection of scientific papers 2006–2014 / Ed. by prof. L.V. Kievsky. Moscow: SVR-ARGUS. 2014, pp. 235–242. (In Russian). http://dev-city.ru/uploads/s/w/f/v/wfvvbpgtz4tt/file/IC9GYpPT.pdf
2. Vlasov D.N., Bahirev I.A. Moscow central ring as a catalyst for changing residents’ mobility. Academia. Arhitektura i stroitel’stvo. 2018. No. 1, pp. 53–58. (In Russian).
3. Kurbanov M.H., Nikolaev A.N. The specifics of the organization of work on the improvement of areas adjacent to transport facilities. Promyshlennoe i grazhdanskoe stroitel’stvo. 2019. No. 8, pp. 85–89. (In Russian).
4. Kievskiy L.V., Kievskiy I.L. Construction of transport infrastructure facilities in an established city. «City development»: Сollection of scientific papers 2006–2014. / Ed. by prof. L.V. Kievsky. Moscow: SVR-ARGUS. 2014, pp. 288–295. (In Russian). http://dev-city.ru/uploads/s/w/f/v/wfvvbpgtz4tt/file/IC9GYpPT.pdf
5. Gibbons S., Machin S. Valuing school quality, better transport, and lower crime: evidence from house prices. Oxford Review of Economic Policy. 2008. Vol. 24 (1), pp. 99–119. DOI: 10.1093/oxrep/grn008
6. Sidorovyh A.S. Assessment of the impact of transport accessibility on real estate prices. Prikladnaya ekonometrika. 2015. No. 37, pp. 43–56. (In Russian).
7. Paley T.F. Predictive stimulation of industrial growth in the region based on transport infrastructure. Doct. Diss. (Engineering). Kazan’. 2019. 342 p. (In Russian).
8. Kievskiy L.V., Kievskaya R.L. Impact of urban planning decisions on real estate markets. Promyshlennoe i grazhdanskoe stroitel’stvo. 2013. No. 6, pp. 27–31. (In Russian).
9. Tihomirov S.A., Kievskiy L.V., Kuleshova E.I., Sergeev A.S Modeling the urban planning process. Promyshlennoe i grazhdanskoe stroitel’stvo. 2015. No. 9, pp. 51–55. (In Russian).
10. Kievskiy L.V., Kievskaya R.L. The relationship between urban planning solutions and the development of real estate markets. «City development»: Сollection of scientific papers 2006–2014. / Ed. by prof. L.V. Kievsky. Moscow: SVR-ARGUS. 2014, pp. 43–52. (In Russian). http://dev-city.ru/uploads/s/w/f/v/wfvvbpgtz4tt/file/IC9GYpPT.pdf
11. Kogan YU. V. The main trends in urban development in Moscow. Promyshlennoe i grazhdanskoe stroitel’stvo. 2019. No. 8, pp. 24–29. (In Russian).
12. Grishutin I.B., Kostin A.V. Construction of the international business center “Moscow City” and its information support. Promyshlennoe i grazhdanskoe stroitel’stvo. 2013. No. 6, pp. 21–24. (In Russian).
13. Kievskiy I.L., Semenov S.A., Zhukov G.N., Grusheckiy D.A. Information and cartographic control with business intelligence functions for city management. Promyshlennoe i grazhdanskoe stroitel’stvo. 2019. No. 8, pp. 72–78. (In Russian).
14. Kievskiy L.V., Shul’zhenko S.N., Volkov A.A. Investment policy of the customer-developer at the stage of organizational preparation of concentrated construction. Vestnik MGSU. 2016. No. 3, pp. 111–121. (In Russian).
15. Leonov V.V., Dolgushin A.V., Maksimov S.O. Assessment of transport accessibility of public health organizations of the city of Moscow. Promyshlennoe i grazhdanskoe stroitel’stvo. 2019. No. 8, pp. 19–23. (In Russian).