The Impact of the Accessibility to High-Speed Rail Stations on Residential Property Prices in Shanghai

Xinyi Wang, Haixiao Pan (), Xiyin Deng and Jingjie Cui
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Xinyi Wang: Tongji University
Haixiao Pan: Tongji University
Xiyin Deng: Tongji University
Jingjie Cui: Tongji University

A chapter in Socioeconomic Impacts of High-Speed Rail Systems, 2025, pp 149-169 from Springer

Abstract: Abstract This study measured the level of transit and car accessibility using the cumulative opportunity method based on the distribution of employment positions. It then analyzed the spatial distribution characteristics of property prices in Shanghai, as well as the impact of accessibility to high-speed rail (HSR) stations on property prices. The downtown HSR station, Shanghai Railway Station, was reported to have the highest accessibility by both transit and car. It was also found that 64.7% of residents arrived at downtown Shanghai Railway Station faster than the suburban Hongqiao Railway Station, with an average saving of 24.9 min. The Hedonic Pricing Model (HPM) showed that the property price around the downtown HSR station was the most sensitive to the change in accessibility. Each 1% reduction in car and transit accessibility would result in a 0.208% and 0.206% reduction in property prices, respectively. The car accessibility to the suburban station, Hongqiao Railway Station, exhibited the least correlation with the property price, while transit accessibility to Hongqiao Railway Station had a higher correlation. These results showed that without adequate support from transit systems, the performance of suburban HSR stations would be substantially inhibited. It also highlighted the spatial heterogeneity of the impact rules in different areas of Shanghai, and emphasized the importance of connecting the suburban HSR stations to the urban transit systems to eliminate the weakness of the station location.

Keywords: Accessibility; High-speed rail station; Urban rail transit; Property prices; Hedonic pricing model (HPM) (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-82528-6_8

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DOI: 10.1007/978-3-031-82528-6_8

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