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Quantitative Research on the Spatial and Temporal Effects of Rail Transit on Urban Housing Price：A Case Study of Shanghai Metro Line 8

Fang Xu, Jiangang Xu

Abstract

Taking the transaction data listed for the sale of sexond-hand homing around Shanghai Metro Line 8 through internet as sample data,this paper defines the areas impacted by Line 8,and screens characteristic variables impacting housing price,and analyzes spatial and temporal effects of Line 8 on housing price around it by applying hedonic price model．The results show that,Line 8 has a positive effect on homing price around it,the closer housing gets from the MTR station,the higher housing price is,and the impact gradually gets weaker when housing is farther and farther away from the MTR station．Additionally,opening Shanghai Metro Line 8 has an obvious temporal effect,with the result of growing housing price around it,and different rising rate in different locations．

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Key concepts: Sample (material), Rail transit, Database transaction, Transaction data, Rapid transit, Metropolitan area, Line (geometry), Transit (satellite)