This paper evaluates the impact of the construction of the Metro C line on house prices in the municipality of Rome. The analysis relies on the multiple synthetic control method to build a control group comparable to the one of treated units.
The analysis detects a reduction in average house prices in areas close to the new metro line stations of around 5 per cent three years after the treatment; the effect is mainly due to the fall in the prices of the most expensive properties. An increase in the share of foreign population is also detected in the same areas. Overall, the analysis suggests the metro might be perceived as an amenity by poorer households and as a disamenity by richer ones.
