scholarly journals The impact of urban rail transit on commercial property value: New evidence from Wuhan, China

2016 ◽  
Vol 91 ◽  
pp. 223-235 ◽  
Author(s):  
Tao Xu ◽  
Ming Zhang ◽  
Paulus T. Aditjandra
Keyword(s):  
Urban Rail Transit ◽  
Rail Transit ◽  
Property Value ◽  
Commercial Property ◽  
Urban Rail ◽  
The Impact ◽  
New Evidence

Mechanism Analysis of the Impact on Chinese Urban Rail Transit Construction on the Surrounding Real Estate Prices

2012 ◽  
Vol 178-181 ◽  
pp. 1866-1869
Author(s):  
Jian Liang Lv ◽  
Ying Jiang
Keyword(s):  
Real Estate ◽  
Land Development ◽  
Value Added ◽  
Urban Rail Transit ◽  
Rail Transit ◽  
Mechanism Analysis ◽  
The Real Estate ◽  
Urban Rail ◽  
Real Estate Prices ◽  
The Impact

This paper first studies the real estate prices and and its effecting factors, and point out the construction of urban rail transit effects large on its surrounding real estate prices. Then, the paper clarifies the theoretical basis of its effects, and finally analyzes mechanism that construction of rail transit can make its surrounding real estate value-added. The urban rail transit construction can improve surrounding property accessibility, the residents travel convenient, increasing the intense of land development, changing nature of land use, adjusting industrial layout, accelerating expanded urbanized areas, raising employment opportunities, promoting socio-economic prosperity and development. It provides reference for the reasonable allocation of late-stage value-added benefits, and people can get a comprehensive and systematic understanding of the impact of urban rail transit construction and its surrounding real estate prices.

scholarly journals Evaluation of the land value-added benefit brought by urban rail transit: The case in Changsha, China

2021 ◽  
Vol 14 (1) ◽  
pp. 563-582
Author(s):  
Wenbin Tang ◽  
Qingbin Cui ◽  
Feilian Zhang ◽  
Hongyan Yan
Keyword(s):  
Impact Strength ◽  
Value Added ◽  
Urban Rail Transit ◽  
Strategy Development ◽  
Rail Transit ◽  
Land Value ◽  
Value Capture ◽  
Urban Rail ◽  
Added Benefit ◽  
The Impact

Accurate evaluation of land value-added benefit brought by urban rail transit (URT) is critical for project investment decision making and value capture strategy development. Early studies have focused on the value impact strength under the assumption of the same impact range for all stations. However, the value impact range at different stations may vary owing to different accessibilities. Therefore, the present study releases this assumption and incorporates the changed impact range into the land value-added analysis. It presents a method to determine the range of land value-added impact and sample selection using the generalized transportation cost model, then spatial econometric models are further developed to estimate the impact strength. On the basis of these models, the entire value-added benefit brought by URT is evaluated. A case study of the Changsha Metro Line 2 in China is discussed to demonstrate the procedure, model, and analysis of spatial impact. The empirical analysis shows a dumbbell-shaped impact on the land value-added benefit along the transit line with a distance-dependent pattern at each station. In addition, the land value-added benefit from Changsha Metro Line 2 reached 12.099 billion USD. Lastly, two main value-added benefit capture modes are discussed, namely, land integration development and special land tax.

scholarly journals Study on the Influence of Urban Rail Transit on the Value of Real Estate Based on Information System

2015 ◽  
Vol 9 (1) ◽  
pp. 73-80
Author(s):  
Jiao Lichao
Keyword(s):  
Information System ◽  
Real Estate ◽  
Real Estate Market ◽  
Urban Rail Transit ◽  
Rail Transit ◽  
Market Information ◽  
The Real ◽  
The Real Estate ◽  
Urban Rail ◽  
The Impact

Urban rail transit has strong transportation capability, but little environmental pollution. Besides, it also saves land resource. These advantages make the urban rail transit gradually becomes an effective measure to solve city traffic problems. In order to analyze the impact of the scope and extent of urban rail transit on the real estate, this paper first introduces the composition of real estate market information system, explains the process of how the urban rail transit influences the value of real estate by taking the 1st project of line 1 of Zhengzhou urban rail transit in Henan province for example, finds the semi logarithmic model which has the best regression effects with three hedonic price models and the collected data from the real estate market information system, and finally works out the added value of real estate generated by the above urban rail transit.

Impact of Urban Rail Transit on Residential Property Values in Hangzhou

2014 ◽  
Vol 580-583 ◽  
pp. 1306-1310
Author(s):  
Lian Fa Ruan ◽  
Jing Ping Yin
Keyword(s):  
Property Values ◽  
Positive Influence ◽  
Hedonic Pricing ◽  
Urban Rail Transit ◽  
Residential Property ◽  
Rail Transit ◽  
Transit System ◽  
Urban Rail ◽  
Residential Property Values ◽  
The Impact

This research investigates the impact of the first metro line (Line 1) in Hangzhou on its station-area residential property values. A hedonic pricing model shows that Line 1 had a statistically significant and positive effect on residential prices in its operation period. Compared with its construction phase, the impact did not change significantly, indicating that metro rail transit had a long-term positive influence on the station-area property values. These findings suggest that such capitalization is likely to lead to high-density and transportation-oriented development. While planning the urban rail transit system, such impact should be fully considered.

Determine the Radiation Zone of Urban Rail Transit Stations

2014 ◽  
Vol 556-562 ◽  
pp. 799-802
Author(s):  
Luan Ying Sun ◽  
Xiang Jun Zhang ◽  
Bo Yu
Keyword(s):  
Great Influence ◽  
Radial Distance ◽  
Urban Rail Transit ◽  
Impact Factors ◽  
Rail Transit ◽  
Surrounding Environment ◽  
Urban Rail ◽  
Radiation Zone ◽  
The Impact ◽  
Radiation Area

Taking urban rail transit stations’ passenger direct attracting scope as the research object, selecting three types of station in Nanjing Metro Line 1 to field survey respectively from traveler's basic information, traveler’s travel conditions and site surrounding environment to find out the impact factors having great difference among the sites and having great influence as independent variables, radial distance of urban rail transit station’s walking radiation area as dependent variable, establishing a linear equation used to determining the scope of radiation. This formula applied to determine the site practical walking radiation range has reference significance and certain rationality.

Research on the Common Rail Transport System Building in Integration System of Urban Rail Transit in Hohhot

2014 ◽  
Vol 599-601 ◽  
pp. 599-602 ◽  
Author(s):  
Cheng Bing Li ◽  
Yi Zhang ◽  
Rui Xue Guo
Keyword(s):  
Product Design ◽  
Transport System ◽  
Rail Transport ◽  
Urban Rail Transit ◽  
Common Rail ◽  
Rail Transit ◽  
Characteristic Analysis ◽  
Passenger Flow ◽  
Urban Rail ◽  
The Impact

Based on the impact analysis of common rail transportation on urban rail transit and comprehensive consideration of Hohhot, including passenger flow characteristic analysis and related product design principle, this paper studies the impact of common rail transport system on the urban rail transit and describes the product design of common rail transport system of Hohhot in two aspects: common rail train stop plan and the nature of the passenger flow, which is dedicated to provide relevant theoretical basis for the rail transit planning and construction of Hohhot in the future. Key words: the integration of urban rail transit; common rail transport; product design; Hohhot

scholarly journals Urban Rail Transit in Bangkok: Chronological Development Review and Impact on Residential Property Value

2021 ◽  
Vol 14 (1) ◽  
pp. 284
Author(s):  
Varameth Vichiensan ◽  
Vasinee Wasuntarasook ◽  
Yoshitsugu Hayashi ◽  
Masanobu Kii ◽  
Titipakorn Prakayaphun
Keyword(s):  
Urban Development ◽  
Traffic Congestion ◽  
Historical Review ◽  
Economic Loss ◽  
Urban Rail Transit ◽  
Rail Transit ◽  
Urban Structure ◽  
Hedonic Price ◽  
Property Value ◽  
The Impact

Bangkok suffered from the world’s worst traffic congestion in the 1990s due to rapidly increasing car ownership, reflecting the economic growth and road-dependent transport policy beginning in the 1960s. Due to its monocentric but scattered urban structure, traffic congestion is severe, causing tremendous economic loss, deteriorating air quality, and badly affecting the quality of life. A historical review reveals that the urban and transport plan and development were not efficiently coordinated, resulting in unorganized suburbanization and progressively more severe traffic congestion. It is important to reveal the impact of the transportation project on the housing market in order to incorporate the policies for transportation and urban development. To define the impact, the OLS hedonic price model and the local multiscale geographically weighted regression (MGWR) model were estimated, along with the condominium sales data. The results revealed that the impact of rail transit on a rise in property value significantly varied across the study area. It was estimated that, for the area along the major rail transit corridor in the city center, a premium of a location 100-m closer to the station would be more than 200 USD per square meter. At the same time, the value would be less than 80 USD for the area along the rail corridor in the suburb. These findings provide policy insights for future urban and railway development, including the proper coordination of rail transit development and urban development with subcenters, transit-oriented development, and improved pedestrian flow around transit stations.

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