Effects of transport accessibility on residential real estate prices (case study of Saratov)

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Abstract

The deepening spatial inequality is observed in Russia at many territorial levels, including within large cities. A vivid manifestation of the depth of social stratification of urban areas is the differences in residential real estate prices, which are often considered as an indicator of spatial inequality due to the lack of other open data. In this paper, we investigated the effects of transport accessibility for spatial inequality, expressed through the average cost of residential real estate, on the example of the city of Saratov. We aggregated data from 80 thousand advertisements on the sale of apartments in the city in 2021. Using the methods of network analysis, we estimated transport accessibility by car and by public transport, to the city center and relative to the transport network of the whole city (integral accessibility). According to the results of regression modeling, transport accessibility (together with the age of buildings) statistically explained up to half of the differences between Saratov districts in the average offer price of residential real estate. Despite our expectations, the best predictor of apartment prices was accessibility by public transport to the city center. Each minute away from the historical city center by public transport reduced the average price of a residential property by 455 rubles per m2. Saratov’s public transport network is highly centralized, which does not allow to fully utilize the potential of the three transport hubs revealed in the study. One possible step towards mitigating the territorial contrasts in transport accessibility in the city is to transform the bus network by introducing new trunk and feeder (to the hubs outside the center) routes.

About the authors

P. O. Gonyukhov

HSE University

Email: pogonyukhov@edu.hse.ru
Moscow, Russia

A. V. Sheludkov

HSE University; Institute of Geography, Russian Academy of Sciences

Email: asheludkov@hse.ru
Moscow, Russia; Moscow, Russia

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