The impact of high speed rail on land and property values: A review of market monitoring evidence from eight countries

This paper reviews evidence on the reported impact of improved accessibility delivered through high speed rail (HSR) on land and property values. Market monitoring evidence was collected from eight countries, using published sources to compare the evidence within and between countries. The evidence is variable, suggesting that improved accessibility associated with the introduction of HSR can affect land values to varying degrees, including price premiums for improved accessibility and price reductions associated with noise or congestion. The paper puts forward a view that although there is a relationship between the introduction of HSR and enhancement of location values, it is necessary to be much more transparent in the methods used to separate out this relationship from other potentially confounding effects.