So minneapolis plans on building a rail line which will connect a lot of outer cities to down town. Will this be a positive for real estate investors or a problem. I'd like to hear your thoughts on the subject. The project is predicted to be completed in 5 to 8 years I believe.
I imagine you are talking about the southwest light rail. Properties within one mile of a station will be very desirable.
@Munira Hassan rail has been shown to increase property values. We are seeing a massive increase of high-end sales in Santa Monica, and the theory is that it's because of the light rail line opening in the spring.
Other metropolitan areas with mass transit might be good to explore.
Chicago Metro, for instance, has commuter rail service (Metra) in the outlying areas while the city has the long-established Chicago Transit Authority (CTA) light rail system. All rail service hubs on the downtown area, and suburb-to-suburb transit options are limited to those suburbs along the rails lines.
Those properties near the stations have the best values.
A key consideration, of course, is the location of centers of employment. Where the jobs are compared to the rail termini and stations will determine the perceived value of rail transit and, thus, rail's impact on property values.
Dunno if this helps...
Can't thank you all enough. Very helpful information.
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