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The Effect of Mass Transit Systems on Price of Condominium in Bangkok

Since 1999, the BTS Skytrain and MRT Subway systems have helped ease the severe traffic problems in Bangkok, Thailand and increased the real estate properties’ values especially condominiums near the mass transit route significantly as consumers are willing to pay more for the convenience. A hedonic price model is used to analyze the effect of mass transit systems on the price of condominiums in different areas of Bangkok. The regression results indicate that the valuation of condominiums near the mass transit system is sensitive to changes in distance from the mass transit stations as well as other housing traits.