An Alternative Entry and Exit Route's Influence on Land Prices: A Case Study

Abstract

Land prices in a residential subdivision soared after an access road to a central business district (CBD) in southern Metro Manila opened initially in early 2013 and for good in December 2014, improving the subdivision’s accessibility. The CBD in Muntinlupa City happens to host not only an interchange of a toll expressway and ramps of an elevated toll road, but also passenger transport terminals. Before the City Alternative Route Entry and Exit System came into service the subdivision could be reached only via an often-congested national road. Sales data show that access and proximity to the alternative route boosted property values in the subdivision, as it saw bigger price increases than those in a community with no access to the new road network.