A rapidly emerging trend in the literature is the study of the impact of sustainability and public transport infrastructure on the real estate market. This paper therefore provides a comprehensive overview of the broad topic of sustainability and relevant property issues. In addition, the paper includes a case study to investigate the impact of public transport on the value of residential real estate in Munich and the surrounding area. Estimates were based on data provided by the Institute for Construction Process Management and Real Estate Development of the Technical University of Munich and three estimation methods the Ordinary Least Squares (OLS) with Newey-West estimator, the Spatial Error Model (SEM), and the Spatial Lag Model (SLM). The study showed that spatial modelling for the issues in question is justified. The results show a negative impact for bus stops in the 0-300 m distance range of 3.27% on average and for the metro in the 800-1200 m distance range of 4.35% on average. In contrast to bus and metro stops, in the of proximity to rail or tram transport, results indicating an increase in property values were obtained. Importantly, each of the distances tested were found to be highly statistically significant in contrast to the metro and bus. The positive impact of the tram was estimated at an average of 11.53% and for the train at an average of 16.31%. The results indicate that the train and tram network is very important to the residents of the Munich area and as a result, the potential buyers are prepared to pay a premium price for the property.     «

A rapidly emerging trend in the literature is the study of the impact of sustainability and public transport infrastructure on the real estate market. This paper therefore provides a comprehensive overview of the broad topic of sustainability and relevant property issues. In addition, the paper includes a case study to investigate the impact of public transport on the value of residential real estate in Munich and the surrounding area. Estimates were based on data provided by the Institute for C...     »