Trains For America

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High-speed rail increases property values in Spanish towns

When new rail connections are discussed in America, there is a strong misconception, particularly among politicians, that more trains will mean lower property values for the communities served. It may seem counter-intuitive, but such backwards thinking caused a commuter rail line running from Minneapolis to my college town, Northfield, to be killed off a few years ago by anxious state legislators from some communities served by the line (Thanks a lot). So it was with a mix of smugness and sadness that I read this article on the effect of Spain’s high-speed AVE network on house prices:

Spain’s high-speed rail network (AVE) plays a significant role in pushing up property prices throughout the country.

To prove this theory Kyero has launched a new Spanish house price index, which shows property prices in towns and cities served by AVE stations outperform their provincial averages. For example, house prices in Málaga, which is served by the AVE line, are currently 24.7 per cent more expensive than in Andalucia and 23.7 per cent higher than the national average across Spain. Prices in Seville and Córdoba also show a similar trend, where properties are within easy reach of AVE stations.

It makes perfect sense: people like living close to transportation, particularly fast and convenient services such as high-speed trains. Let’s just hope that our own lawmakers can pick up on these trends when making decisions concerning our own rail infrastructure.

Filed under: International High Speed Rail, Passenger Rail Politics, , , , ,

3 Responses

  1. Peter says:

    Maybe the turnaround is close: Spain was also a country setting for years on motorways. Only ten years ago they started to built highspeed railway lines like no other country in Europe. A mindswing in favour of high speed trains is sweeping the country like nowhere else. The old fashion trains became suddenly trendy. Hope the same will happen in the states.

  2. Is it going to make that much of a difference?
    The price of the AVE train is approximately between 50 – 70 euro
    surely flying is far cheaper now adays?

  3. Definitely agree with what you stated. Your explanation was certainly the easiest to understand. Property prices in Spain are surely going to increase with high speed..

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June 2008


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