The update of the land-use revenues from Vantaa light rail has been completed. Land-use revenues were assessed by a property economics analysis, based on land use compliant with the disposition plan for the light rail.
According to the analysis, the biggest revenues from the light rail are forecast to arise from eastern and southern Aviapolis, Hakunila Center, as well as the vicinity of the Rajakylä stop. The bus option is estimated to generate around €272.8 million from real estate economics, whereas the light rail option would generate revenues amounting to €592.4 million. According to estimate, building the light rail would generate €319.6 million more than the bus alternative. According to the updated analysis, the light rail revenues have risen by around €30 million, while those of the bus option have fallen by €2.7 million.
Newsec Oy conducted the property economics analysis that assessed the revenues from both the bus and the light rail alternatives. The analysis is based on a study where different cities have analyzed the impact of light rail projects on urban development and on the revenues arising from it. The assessment accounts for, for instance, the land the city owns in each area; the predicted impact of the light rail on urban development in different areas; the schedule of land use realization; as well as the temporal development of land and property prices.
In the general plan phase in 2019, building the light rail was estimated to cost Vantaa €267 million including building costs.
Familiarize yourself in more detail with the real estate economics analysis on Vantaa light rail's website.