Impact of high speed rail on housing values: an observation from the Beijing–Shanghai line

Zhenhua Chen and Kingsley E. Haynes

Journal of Transport Geography, 2015, vol. 43, issue C, 91-100

Abstract: This study investigates the ex post impact of the Beijing–Shanghai high speed rail (BJHSR) on housing values. A dataset including 1016 housing communities from the 22 cities along the BJHSR line are analyzed in the tradition of the hedonic pricing model using three estimation procedures: a robust ordinary-least square regression, a Box-Cox transformation technique and a spatial econometric model. After controlling for physical characteristics of housing property, neighboring environment and locational accessibility, the study finds that the establishment of the BJHSR service has a considerable regional impact (including local effects and spillover effects) on housing values in medium and small cities but a negligible impact in larger capital cities. This may be the results of the competitive nature of housing market in Chinese capital cities.

Keywords: High speed rail; China; Hedonic pricing model; Box-Cox transformation; Spatial econometrics (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (70)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jotrge:v:43:y:2015:i:c:p:91-100

DOI: 10.1016/j.jtrangeo.2015.01.012

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