All Aboard Florida caused drop in home sale prices near rail line in Martin County, study shows

All Aboard Florida on Monday disputed the findings: “There is clear concrete evidence from numerous examples where real estate values proximate to passenger rail systems have significantly increased,” the company said in a statement. “Furthermore, we have seen no conclusive data that suggests passenger rail such as All Aboard Florida, which will operate on an existing rail corridor, has any negative effects on nearby property values.” (Source: The Palm Beach Post) 

The study found the value of medium-sized homes dropped after All Aboard Florida unveiled plans for its express-passenger train service in 2012, according to The Palm Beach Post.

Larger homes within 400 feet of the rail line were negatively affected by the project…

The study examined 13,332 residential property sales in Martin County between 2005 and February 2015.  It found sales prices dropped by $16,681 for homes smaller than 1,532-square-feet that were located within 400 feet of the tracks. The drop occurred after All Aboard announced plans for the project.

Homes of that size that were located between 400 feet and 1,000 feet from the tracks saw their sales prices drop by $10,502, the study said.

For the complete story: http://realtime.blog.palmbeachpost.com/2015/06/01/all-aboard-florida-caused-drop-in-sale-prices-for-homes-near-rail-line-in-martin-county-study-shows/

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1 comment to All Aboard Florida caused drop in home sale prices near rail line in Martin County, study shows

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