Helsingin pikaraitiolinjan vaikutukset ympäröivien asuntojen hintoihin

This thesis measures the impact of the Helsinki Light Rail Transit (LRT) Line 15 on surrounding housing prices on different housing types during the anticipation phases and post-opening phase. The study uses a spatial differences-in-differences model and data from the Central federation of Finnish Real Estate Agencies between the years 2010 – 2025. The results show that on average the official announcement led to a 2% increase in housing prices that are less than 800 meters from the closest LRT stop, compared to houses that are 1000 – 3000 meters from the closest LRT stop. The effect increased, on average, to 3 – 4% during the construction phase. After the Helsinki Light Rail Transit line opened in October 2023, the effect with the full housing sample decreased to zero. This study found that non-apartment properties responded more drastically to the Jokeri LRT line compared to apartment properties. Ultimately, this study enhances our understanding about the effect of public transport expansions and the comparison between anticipation effect and post-opening effect and their effect of different housing types, giving foundation to future research.