ITU Economics cordially invites you to attend the following Economics PricewaterhouseCoopers-İTÜ Economics seminar:
Date & Time: April 28, 2017, Friday, 2:00PM.
Location: Room F235 - ITU Faculty of Management, Maçka 34337 Istanbul
Speaker: Eren Inci (Sabanci University)
Title: Unbundling Curbside Parking Costs from Housing Prices and Rents
This paper empirically shows that at least some of the costs of curbside parking spaces are capitalized in housing prices even though these parking spaces are not formally bundled with housing units. Making use of Istanbul's transition from free and informal curbside parking to paid and formal, we find that housing prices decreased substantially as a response to the city operating curbside parking, while rents remained statistically the same. Thus, although the transition unbundles parking costs from housing prices, the depreciation in house values is not reflected in rents.