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The impact of high-speed railway on urban housing prices in China: A network accessibility perspective

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  • Liu, Xueli
  • Jiang, Chunxia
  • Wang, Feng
  • Yao, Shujie

Abstract

Applying the social network analysis (SNA) approach, this paper investigates the impact of high-speed rail (HSR) on urban housing prices from the perspective of network accessibility. Based on a sample of 285 cities in China over 2009–2017, we find a positive effect of HSR network accessibility on urban housing prices. An increase in HSR network accessibility (i.e., degree point or closeness centrality) by one standard deviation causes about a 10.3% increase in average housing prices. Evidence also suggests that this effect varies across regions and housing types. Our results are robust to different model specifications and alternative measures of HSR accessibility. The findings offer insights into the space–time economic laws with important policy implications regarding spatial disparities and regional economic convergence in China.

Suggested Citation

  • Liu, Xueli & Jiang, Chunxia & Wang, Feng & Yao, Shujie, 2021. "The impact of high-speed railway on urban housing prices in China: A network accessibility perspective," Transportation Research Part A: Policy and Practice, Elsevier, vol. 152(C), pages 84-99.
    • Handle: RePEc:eee:transa:v:152:y:2021:i:c:p:84-99
    DOI: 10.1016/j.tra.2021.08.006
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    Cited by:

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    3. Li, Zekun & Chen, Zhenhua, 2023. "Predicting the future development scale of high-speed rail through the urban scaling law," Transportation Research Part A: Policy and Practice, Elsevier, vol. 174(C).
    4. Di Matteo, Dante & Cardinale, Bernardo, 2023. "Impact of high-speed rail on income inequalities in Italy," Journal of Transport Geography, Elsevier, vol. 111(C).
    5. Wu, Shuping & Han, Dan, 2022. "Accessibility of high-speed rail (HSR) stations and HSR–air competition: Evidence from China," Transportation Research Part A: Policy and Practice, Elsevier, vol. 166(C), pages 262-284.
    6. Bo Yang & Yaping Yang & Yangxiaoyue Liu & Xiafang Yue, 2022. "Spatial Structure Evolution and Economic Benefits of Rapidly Expanding the High-Speed Rail Network in Developing Regions: A Case Study in Western China," Sustainability, MDPI, vol. 14(23), pages 1-20, November.
    7. Bingjie Niu & Ping Yin & Pengxia Shen, 2023. "Industrial Spatio-Temporal Distribution of High-Speed Rail Station Area from the Accommodation Facilities Perspective: A Multi-City Comparison," Land, MDPI, vol. 12(2), pages 1-16, January.
    8. Chen, Fanglin & Chen, Zhongfei, 2023. "High-speed rail and happiness," Transportation Research Part A: Policy and Practice, Elsevier, vol. 170(C).
    9. Han, Dan & Wu, Shuping, 2023. "The capitalization and urbanization effect of subway stations: A network centrality perspective," Transportation Research Part A: Policy and Practice, Elsevier, vol. 176(C).
    10. Jin, Mengjie & Gu, Ruyue & Li, Kevin X. & Shi, Wenming & Xiao, Yi, 2024. "Heterogeneous impacts of the high-speed railway network on urban–rural income disparity: Spatiotemporal evidence from Yangtze River Delta of China," Transportation Research Part A: Policy and Practice, Elsevier, vol. 183(C).
    11. Štěpán Mikula & Peter Molnár, 2022. "Expected Transport Accessibility Improvement and House Prices: Evidence from the Construction of the World’s Longest Undersea Road Tunnel," MUNI ECON Working Papers 2022-05, Masaryk University, revised Feb 2023.

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    More about this item

    Keywords

    Network accessibility; High-speed railway; Urban housing price; Social network analysis;
    All these keywords.

    JEL classification:

    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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