The impact of metro services on housing prices: a case study from Beijing

Assessment of the impact of metro systems on housing prices is important for financing transport infrastructure via value capture. This paper provides evidence for this relationship, focusing particularly on the effects of metro services, and uses the large city of Beijing, China, as a case study. A spatial error model was applied to 2835 samples of online property sales data obtained in January 2016. Three transport service indicators associated with metro transfers and waiting times were explored: (1) metro headway, (2) access to different metro lines and (3) accessibility to employment opportunities. The results show that areas with more employment opportunities via public transit have higher housing prices than other areas. Shorter metro headways are positively related to housing prices near stations. Housing prices for neighborhoods having access to more than one metro line within 800 m-buffer area are higher than those without access to metro lines, controlling for number of accessible jobs within 30 min. This study sheds light on the importance of metro services on housing prices. It has implications for further research and for the planning policies of metro-dependent cities.

• Record URL:
  • https://doi.org/10.1007/s11116-017-9834-7
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/00494488
• Supplemental Notes:
  • Copyright © 2019, Springer Science+Business Media New York.
• Authors:
  • Li, Shengxiao (Alex)
  • 0000-0002-0698-3509
  • Chen, Luoye
  • Zhao, Pengjun
• Publication Date: 2019-8

Language

• English

Media Info

• Media Type: Web
• Features: References;
• Pagination: pp 1291-1317
• Serial:
  • Transportation
  • Volume: 46
  • Issue Number: 4
  • Publisher: Springer
  • ISSN: 0049-4488
  • EISSN: 1572-9435
  • Serial URL: http://link.springer.com/journal/11116

Subject/Index Terms

• TRT Terms: Case studies; Economic impacts; Housing; Prices; Property values; Rail transit; Subways
• Identifier Terms: Hedonic price method
• Geographic Terms: Beijing (China)
• Subject Areas: Economics; Planning and Forecasting; Public Transportation;

Filing Info

• Accession Number: 01714447
• Record Type: Publication
• Files: TRIS
• Created Date: Aug 22 2019 4:41PM