IDEAS home Printed from https://ideas.repec.org/a/ibn/masjnl/v6y2012i3p58.html
   My bibliography  Save this article

The Impact of Urban Rail Transit on Surrounding Residential Prices--Line 1 of Chengdu Metro as an Example

Author

Listed:
  • Xin Wei
  • Wei Zhang
  • Cheng Wang
  • Guang Xu

Abstract

This article aims to build a hedonic price model of the research region by making a summary of relevant research in this field, and taking the running Line 1 of Chengdu Metro as an example. To be specific, the research discusses the influence of Line 1 of Chengdu Metro on surrounding residential prices taking samples of the estates within 2 km of Line 1 within a spatiotemporal perspective. The results shows that- after the operation of Line 1 (from July in 2010 to June in 2011), the growth rate of the residential prices has been increased by 5.89%, 9.44%, 12.45% and 11.03% from 1st ring to the third ring respectively, reaching at an average rising rate of 9.51%. Besides, the residential prices far away from the downtown area were more likely to be found ahead than those around the city center and represented a far more sensitivity to the metro operation. By quantitative calculating, it finds that- regions that are closer to subway stations per meter from 1st ring to the third, the residential prices increased 0.91 Yuan/m2, 1.16 Yuan/m2 and 1.21 Yuan/m2, respectively. At the same time, Line 1 of Chengdu Metro has been increased a total number of 7.814 billion Yuan up to now of surrounding residential value.

Suggested Citation

  • Xin Wei & Wei Zhang & Cheng Wang & Guang Xu, 2012. "The Impact of Urban Rail Transit on Surrounding Residential Prices--Line 1 of Chengdu Metro as an Example," Modern Applied Science, Canadian Center of Science and Education, vol. 6(3), pages 1-58, March.
    • Handle: RePEc:ibn:masjnl:v:6:y:2012:i:3:p:58
    as

    Download full text from publisher

    File URL: https://ccsenet.org/journal/index.php/mas/article/download/15071/10237
    Download Restriction: no
    File URL: https://ccsenet.org/journal/index.php/mas/article/view/15071
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bae, Chang-Hee Christine & Jun, Myung-Jin & Park, Hyeon, 2003. "The impact of Seoul's subway Line 5 on residential property values," Transport Policy, Elsevier, vol. 10(2), pages 85-94, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zhang, Ming & Wang, Lanlan, 2013. "The impacts of mass transit on land development in China: The case of Beijing," Research in Transportation Economics, Elsevier, vol. 40(1), pages 124-133.
    2. Becky Loo, 2007. "The role of paratransit: some reflections based on the experience of residents’ coach services in Hong Kong," Transportation, Springer, vol. 34(4), pages 471-486, July.
    3. Kazak Jan K. & Simeunović Nataša & Hendricks Andreas, 2019. "Hidden Public Value Identification of Real Estate Management Decisions," Real Estate Management and Valuation, Sciendo, vol. 27(4), pages 96-104, December.
    4. Eun Jung Kim & Hyunjung Kim, 2020. "Neighborhood Walkability and Housing Prices: A Correlation Study," Sustainability, MDPI, vol. 12(2), pages 1-18, January.
    5. Arthur Grimes & Chris Young, 2010. "Anticipatory Effects of Rail Upgrades: Auckland’s Western Line," Working Papers 10_11, Motu Economic and Public Policy Research.
    6. Cao, Xinyu (Jason) & Porter-Nelson, Dean, 2016. "Real estate development in anticipation of the Green Line light rail transit in St. Paul," Transport Policy, Elsevier, vol. 51(C), pages 24-32.
    7. He, Sylvia Y., 2020. "Regional impact of rail network accessibility on residential property price: Modelling spatial heterogeneous capitalisation effects in Hong Kong," Transportation Research Part A: Policy and Practice, Elsevier, vol. 135(C), pages 244-263.
    8. Helen X. H. Bao & Doris Ka Chuen Mok, 2020. "A Link between East and West: How the Guangzhou-Shenzhen-Hong Kong Express Rail Link Affects Property Prices in Hong Kong," International Real Estate Review, Global Social Science Institute, vol. 23(3), pages 993-1021.
    9. Vifill KARLSSON, 2010. "Modern Industrial Structure and Development of House PriceÂ’s Spatial Disparity: A General Case for Iceland; a Large but Thinly Populated European Country," Regional and Urban Modeling 284100023, EcoMod.
    10. Dziauddin, Mohd Faris, 2019. "Estimating land value uplift around light rail transit stations in Greater Kuala Lumpur: An empirical study based on geographically weighted regression (GWR)," Research in Transportation Economics, Elsevier, vol. 74(C), pages 10-20.
    11. Chun-Chang Lee & Chi-Ming Liang & Hui-Chuan Hong, 2020. "The Impact of a Mass Rapid Transit System on Neighborhood Housing Prices: An Application of Difference-In-Difference and Spatial Econometrics," Real Estate Management and Valuation, Sciendo, vol. 28(1), pages 28-40, March.
    12. Julie Bulteau & Thierry Feuillet & Rémy Le Boennec, 2018. "Spatial Heterogeneity of Sustainable Transportation Offer Values: A Comparative Analysis of Nantes Urban and Periurban/Rural Areas (France)," Post-Print hal-04362203, HAL.
    13. Diao, Mi & Leonard, Delon & Sing, Tien Foo, 2017. "Spatial-difference-in-differences models for impact of new mass rapid transit line on private housing values," Regional Science and Urban Economics, Elsevier, vol. 67(C), pages 64-77.
    14. Mathur, Shishir, 2019. "An evaluative framework for examining the use of land value capture to fund public transportation projects," Land Use Policy, Elsevier, vol. 86(C), pages 357-364.
    15. Amarin Siripanich & Taha Hossein Rashidi & Emily Moylan, 2019. "Interaction of Public Transport Accessibility and Residential Property Values Using Smart Card Data," Sustainability, MDPI, vol. 11(9), pages 1-24, May.
    16. Yunxi Bai & Jusheng Song & Shanshan Wu & Wei Wang & Jacqueline T. Y. Lo & S. M. Lo, 2020. "Comparing the Impacts of Location Attributes on Residents’ Preferences and Residential Values in Compact Cities: A Case Study of Hong Kong," Sustainability, MDPI, vol. 12(12), pages 1-23, June.
    17. Kuo-Cheng Hsu, 2020. "House Prices in the Peripheries of Mass Rapid Transit Stations Using the Contingent Valuation Method," Sustainability, MDPI, vol. 12(20), pages 1-21, October.
    18. Cervero, Robert & Kang, Chang Deok, 2011. "Bus rapid transit impacts on land uses and land values in Seoul, Korea," Transport Policy, Elsevier, vol. 18(1), pages 102-116, January.
    19. Hui Sun & Yuning Wang & Qingbo Li, 2016. "The Impact of Subway Lines on Residential Property Values in Tianjin: An Empirical Study Based on Hedonic Pricing Model," Discrete Dynamics in Nature and Society, Hindawi, vol. 2016, pages 1-10, September.
    20. Chen, Zhenhua & Haynes, Kingsley E., 2015. "Impact of high speed rail on housing values: an observation from the Beijing–Shanghai line," Journal of Transport Geography, Elsevier, vol. 43(C), pages 91-100.

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ibn:masjnl:v:6:y:2012:i:3:p:58. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Canadian Center of Science and Education (email available below). General contact details of provider: https://edirc.repec.org/data/cepflch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.