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Where Do Home Buyers Pay Most for Relative Transit Accessibility? Hong Kong, Taipei and Kaohsiung Compared

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  • Oliver Shyr
  • David Emanuel Andersson
  • Jamie Wang
  • Taiwei Huang
  • Olivia Liu

Abstract

The three cities of Hong Kong, Taipei and Kaohsiung all feature state-of-the-art transit systems, but transit commuting rates are markedly different, ranging from less than 10 per cent in Kaohsiung to about 90 per cent in Hong Kong. This paper looks at the effect of transit station accessibility on housing prices in these three cities, which are all located on the south-eastern edge of the Greater China region. The key finding is that accessibility impacts stand in an inverse relationship to the size and popularity of the transit system. The results illustrate how intraregional variability in overall transit accessibility declines with increases in the spatial coverage of transit systems. The price premium for housing near transit stations is therefore greatest in Kaohsiung and smallest in Hong Kong, with Taipei exhibiting intermediate levels. Conversely, average land values are highest in Hong Kong and lowest in Kaohsiung.

Suggested Citation

  • Oliver Shyr & David Emanuel Andersson & Jamie Wang & Taiwei Huang & Olivia Liu, 2013. "Where Do Home Buyers Pay Most for Relative Transit Accessibility? Hong Kong, Taipei and Kaohsiung Compared," Urban Studies, Urban Studies Journal Limited, vol. 50(12), pages 2553-2568, September.
    • Handle: RePEc:sae:urbstu:v:50:y:2013:i:12:p:2553-2568
    DOI: 10.1177/0042098012474510
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    Cited by:

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    2. 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.
    3. Mitra, Suman K. & Saphores, Jean-Daniel M., 2016. "The value of transportation accessibility in a least developed country city – The case of Rajshahi City, Bangladesh," Transportation Research Part A: Policy and Practice, Elsevier, vol. 89(C), pages 184-200.
    4. Shutian Zhou & Guofang Zhai & Yijun Shi, 2018. "What Drives the Rise of Metro Developments in China? Evidence from Nantong," Sustainability, MDPI, vol. 10(8), pages 1-20, August.
    5. Andersson, David Emanuel & Shyr, Oliver F. & Yang, Jimmy, 2021. "Neighbourhood effects on station-level transit use: Evidence from the Taipei metro," Journal of Transport Geography, Elsevier, vol. 94(C).
    6. Shyr, Oliver F. & Andersson, David Emanuel & Cheng, Yu-Hsuan & Hsiao, Yu-Hsuan, 2017. "What explains rapid transit use? Evidence from 97 urbanized areas," Transportation Research Part A: Policy and Practice, Elsevier, vol. 100(C), pages 162-169.
    7. Cláudia A.Soares Machado & Mariana A. Giannotti & Juliana A. Kolling & Luiz A. Manfré & Eunice Barbosa & José Alberto Quintanilha, 2013. "Transportation System And Land Price: An Investigation About Its Relationship Based On Spatial Analysis," LARES lares_2013_784-1003-1-rv, Latin American Real Estate Society (LARES).
    8. Steven C Bourassa & Martin Hoesli & Louis Merlin & John Renne, 2021. "Big data, accessibility and urban house prices," Urban Studies, Urban Studies Journal Limited, vol. 58(15), pages 3176-3195, November.
    9. Zhilong Chen & Lichang Su & Cheng Zhang, 2016. "Research on the Synergy Degree of Aboveground and Underground Space along Urban Rail Transit from the Perspective of Urban Sustainable Development," Sustainability, MDPI, vol. 8(9), pages 1-22, September.
    10. 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.
    11. Helen XH Bao & Johan P Larsson & Vivien Wong, 2021. "Light at the end of the tunnel:The impacts of expected major transport improvements on residential property prices," Urban Studies, Urban Studies Journal Limited, vol. 58(14), pages 2971-2990, November.
    12. Shutian Zhou & Guofang Zhai & Yuwen Lu & Yijun Shi, 2021. "The development of urban mega-projects in China: A case study of Nantong’s metro project," Environment and Planning B, , vol. 48(4), pages 759-774, May.
    13. Kaida Chen & Hanliang Lin & Lingyun Liao & Yichen Lu & Yen-Jong Chen & Zehua Lin & Linxi Teng & Aifang Weng & Tianqi Fu, 2022. "Nonlinear Rail Accessibility and Road Spatial Pattern Effects on House Prices," Sustainability, MDPI, vol. 14(8), pages 1-24, April.
    14. Lin, Tzu-Chin & Huang, Fang-Hsin & Lin, Siao-En, 2018. "Land assembly for urban development in Taipei City with particular reference to old neighborhoods," Land Use Policy, Elsevier, vol. 78(C), pages 555-561.
    15. Chung-Chu Liu & Jason C. H. Chen & Che-Cheong Poon, 2019. "Perception Types Of Home Buyers By Q Methodology: A Comparative Study Of Hong Kong, Taiwan, And The Usa," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 64(01), pages 235-257, March.

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