Heterogeneity Analysis of Urban Rail Transit on Housing with Different Price Levels: A Case Study of Chengdu, China

The impact of urban rail transit on housing prices has attracted the extensive attention of scholars, but few studies have explored the heterogeneous impact of rail transit on housing prices with different price levels. To solve this problem, we adopted the hedonic price model based on ordinary leas...

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Bibliographic Details
Published in:Land (Basel) 2021-12, Vol.10 (12), p.1330
Main Authors: Ren, Pengyu, Li, Zhaoji, Cai, Weiguang, Ran, Lina, Gan, Lei
Format: Article
Language:English
Subjects:
Construction
Decision making
Funding
Heterogeneity
Housing
housing price
Housing prices
inverted-U curve
Least squares method
Noise
Price levels
Public transportation
quantile regression
rail transit
Railroad transportation
Subway stations
Subways
Sustainable development
Traffic congestion
Transportation planning
Urban rail
value capture
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Summary:The impact of urban rail transit on housing prices has attracted the extensive attention of scholars, but few studies have explored the heterogeneous impact of rail transit on housing prices with different price levels. To solve this problem, we adopted the hedonic price model based on ordinary least squares regression as a supplementary method of quantile regression to study the heterogeneous impact of the Chengdu Metro system on low-, middle-, and high-priced housing. The result shows that the housing price rises first, then falls with the distance from the housing to the nearest subway station. Besides, the influence of transportation accessibility on low-, middle-, and high-priced housing decreases progressively. This research can provide a reference for the government’s transportation planning and decision-making.
ISSN:2073-445X
2073-445X
DOI:10.3390/land10121330