{'fraction_non_alphanumeric': 0.01731301939058172, 'fraction_numerical': 0.0, 'mean_word_length': 5.365638766519824, 'pattern_counts': {'":': 0, '<': 0, '<?xml version=': 0, '>': 0, 'https://': 0, 'lorem ipsum': 0, 'www.': 0, 'xml': 0}, 'pii_count': 0, 'substrings_counts': 0, 'word_list_counts': {'cursed_substrings.json': 0, 'profanity_word_list.json': 0, 'sexual_word_list.json': 0, 'zh_pornsignals.json': 0}}
The influence of rapid rail systems on office values: A case study on South Africa

Abstract This study identifies the influence of rapid rail systems on property values, with a focus on office buildings in South Africa. It is based on a limited sample of office properties, analysed using MRA to investigate pre-implementation values and rent to post-implementation data. It attempts to confirm if distance from the train stations influences these variables. Evidence is found that distance from the station does have a positive impact on rental levels and property values. The limited data-set, however, causes inadequate levels of statistical significance in some variables, arguably due to the small sample or model specification error due to information availability for research. The positive influence of rapid rail systems found on office values has important implications for property investors, developers, financiers and taxing authorities. This is important amidst a period of extension planning, whereby this research could provide useful information for decision-making and analysis and offers a valuable contribution to the methods to measure the impact of rapid rail systems on property values, although currently limited to office buildings. Furthermore, this research is contributing to the body of knowledge, especially in developing markets, where advanced public transport systems need to be implemented for the first time.