Empirical Study on the Impact of Urban Rail Transit on House Price——Based on Hedonic Price Model
Lin Wang
Abstract
Lin Wang
Abstract
Taking Urban Rail Transit Line 8 as an example,the paper uses hedonic price model to research the impact of urban rail transit on house price.It concludes that urban rail transit has significant incremental effect on the price of houses within 1to 1.5km distance.However,different station has different impact in both range and intensity.Besides,house price increases most rapidly in years of starting to build and operate,and decreased slightly in the mid-term of building,which is caused by the noise pollution,air pollution and traffic inconvenience during the period of construction.
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Taking Urban Rail Transit Line 8 as an example,the paper uses hedonic price model to research the impact of urban rail transit on house price.It concludes that urban rail transit has significant incremental effect on the price of houses within 1to 1.5km distance.However,different station has different impact in both range and intensity.Besides,house price increases most rapidly in years of starting to build and operate,and decreased slightly in the mid-term of building,which is caused by the noise pollution,air pollution and traffic inconvenience during the period of construction.
Key concepts: Urban rail transit, Hedonic pricing, Rail transit, Transit (satellite), House price, Transport engineering, Noise pollution, Business