 High-speed rail expansion and housing prices in the "forgotten corners": Sub-City Level Evidence from Jiangsu Province in ChinaShiyu Cheng, Chenxu Hu and Yaxiang Song Economic Analysis and Policy, 2025, vol. 86, issue C, 1787-1800 Abstract: This paper investigates the impacts of high-speed rail (HSR) expansion on housing prices at the sub-city level. Using monthly sales data of newly built residential complexes in Jiangsu Province, China, from 2015 to 2018, and a generalized difference-in-differences approach, we compare housing price changes in areas with improved HSR accessibility from new station openings to those where accessibility remained unchanged. The results indicate a significant 20 % relative reduction in housing prices in areas with better accessibility due to new HSR stations located outside city boundaries, while no significant effect is found for areas gaining better accessibility from stations within city boundaries. These findings suggest the existence of "forgotten corners," where the administrative border fails to align with economic spillovers, leading to inefficiencies in infrastructure development. The results are robust across various distance ranges and are not mitigated by the availability of alternative transportation modes. Keywords: High-speed rail; Housing prices; Sub-city level analysis; Accessibility; Urban development (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ecanpo:v:86:y:2025:i:c:p:1787-1800 DOI: 10.1016/j.eap.2025.05.020 Access Statistics for this article Economic Analysis and Policy is currently edited by Clevo Wilson More articles in Economic Analysis and Policy from Elsevier |
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