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

Pengyu Ren, Zhaoji Li, Weiguang Cai, Lina Ran and Lei Gan
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Pengyu Ren: College of Architecture and Urban Planning, Chongqing Jiaotong University, Chongqing 400074, China
Zhaoji Li: School of Management Science and Real Estate, Chongqing University, Chongqing 400044, China
Weiguang Cai: School of Management Science and Real Estate, Chongqing University, Chongqing 400044, China
Lina Ran: School of Management Science and Real Estate, Chongqing University, Chongqing 400044, China
Lei Gan: School of Management Science and Real Estate, Chongqing University, Chongqing 400044, China

Land, 2021, vol. 10, issue 12, 1-15

Abstract: 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.

Keywords: rail transit; value capture; housing price; inverted-U curve; quantile regression (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2021
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