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2008•Economic GeographyRequires access

THE IMPACTS OF THE RAIL TRANSIT ON PROPERTY VALUES:EMPIRICAL STUDY IN BATONG LINE OF BEIJING

Rui Guo

Open publisher page 8 citations

Abstract

Though most studies confirm the positive impacts of the rail transit on property values,a few studies report the insignificant impacts.It is suggested that the submarket effect is the important factor that causes the mixed conclusions.The article puts forward that the submarket effect is the integration of two opposite effects.The difference between the bid-rent gradients of the commercial and office sector and that of the residential essentially shifts the relative magnitude of these two effects.As for the commercial and office property,the impact of the Effect Ⅰis greater than that of Effect Ⅱ,that causes the value premium higher in CBD than that in suburb.While for the residential,the impact of Effect Ⅱ dominates so the premium in suburb is higher.Our empirical study on Batong line verifies the above idea.

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What this paper is about

Though most studies confirm the positive impacts of the rail transit on property values,a few studies report the insignificant impacts.It is suggested that the submarket effect is the important factor that causes the mixed conclusions.The article puts forward that the submarket effect is the integration of two opposite effects.The difference between the bid-rent gradients of the commercial and office sector and that of the residential essentially shifts the relative magnitude of these two effects.As for the commercial and office property,the impact of the Effect Ⅰis greater than that of Effect Ⅱ,that causes the value premium higher in CBD than that in suburb.While for the residential,the impact of Effect Ⅱ dominates so the premium in suburb is higher.Our empirical study on Batong line verifies the above idea.

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OpenAlex reports 8 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

Though most studies confirm the positive impacts of the rail transit on property values,a few studies report the insignificant impacts.It is suggested that the submarket effect is the important factor that causes the mixed conclusions.The article puts forward that the submarket effect is the integration of two opposite effects.The difference between the bid-rent gradients of the commercial and office sector and that of the residential essentially shifts the relative magnitude of these two effects.As for the commercial and office property,the impact of the Effect Ⅰis greater than that of Effect Ⅱ,that causes the value premium higher in CBD than that in suburb.While for the residential,the impact of Effect Ⅱ dominates so the premium in suburb is higher.Our empirical study on Batong line verifies the above idea.

Key concepts: Property value, Beijing, Residential property, Empirical research, Hedonic pricing, Value (mathematics), Land Values, Line (geometry)

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THE IMPACTS OF THE RAIL TRANSIT ON PROPERTY VALUES:EMPIRICAL STUDY IN BATONG LINE OF BEIJING — Research Paper | ScholarLens