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The Empirical Analysis And Prediction About The Effect Of Metro Line 1 In Nanchang On Surrounding Residential Price

Posted on:2011-07-19Degree:MasterType:Thesis
Country:ChinaCandidate:X Q HuFull Text:PDF
GTID:2189330332966664Subject:Industrial Economics
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Urban rail transit construction can lead to a major change in Urban morphology and Social and economic structure, brings the huge space,social and economic effect. Therefore, the study of urban rail transit projects will be a complex and integrated system. Its research content often involved in economics, sociology, urban planning, etc. Multiple stakeholders needed to be noticed in the research process, including government, developers,there are abundant research achievements of theory in the field in International Especially those developed countries, which provides valuable experience lead and theoretical basis in our late start of metro construction work. In recent years, with the urban rail transit construction, the spread of this topic is on the increasing.Domestic literature on rail transit and real estate related research is maily about the developed city,such as Guangzhou,Shanghai,Beijing. In the central region of nanchang,city subway is a Completely new thing, therefore, there is few research on this area.This thesis discusses the effects of urban rail transportation projects on surrounding house prices with the case of nanchang Metro Line 1.In practice, the research can help to design financing methords of city subway line 1 project, formulate specific urban transportation planning, land use planning and relevant policies.In addition, the research about influence of real estate prices can help real estate developers and consumers to make pricing or other investment strategies; In theory, this article combining the characteristics of nanchang can enrich and perfect the relevant theory of nanchang subway and real estate research system.By summarizing the existing research approaches stated in listed materials,the thesis adopts an approach based on Hedonic Model. This paper also used some other relevant models to make the forecast about nanchang metro line l's complete space effect. The contents includes each site's specific effect area on prices, Specific housing prices increment range and prices growth amplitude of specific properties. The results of the research on Space Effect indicate that Metro Line 1 stations have an effect on areas within a radius of lkm of the stations. Remove the effects of other factors, Unit prices of houses within the radius of 0.5km of a metro station are 400yuan/m2,or 15% higher than those houses within the radius between 0.5-lkm respectively,and the total price are 3 million yuan,or 18% higher. Metro line 1 is already under construction, and the location of each station has no special attraction in living environment, therefore,we can declare that line 1 has formed certain space effect in house prices around the site, the difference on house price showed in the computation result is mainly caused by the expected clear improvement or factors related to linel construction,such as business development and regional environmental improvement. What the hedonic model calculation results reflect is only the space effect when metro line 1 is still in the construction period, As the completion of nanchang metro line 1 project,putting into operation and the further development of the peripheral regions site, the housing price along Metro line will continue to grow. and how willWhat affect will Nanchang metro line 1 bring to the housing price,and how it take place, the predicted results show that:the site for real estate prices range is different, which is maily affected by specific geographical location, traffic and the surrounding commercial development degree etc. The station in hong-gu-tan area has most extensive influence, influence radius of the shi mao road station and the qiu-shui square station are 2.46 and 2.75 km. Other than the site of hong-gu-tan area, the effect radius basically is inversely proportional to the distance from downtown, the farther from the ba-yi square, the bigger influence radius the site has. Such as the Olympic center and shuang-gang road station, they has much biger influence radius than zhong-shan road and wan-shou-gong station. Similar to predict to the influence area of the site, the building around subway stations located in the hong-gu-tan area clarified the most obvious effects of value, prices nearby qiushuisquare station will possiblly risen 1200 yuan/square meters. Prices increment range of Other sites is proportional to the distance from the center, The farther from the center,the larger risen space of the real estate has.Finally,by using the results from the previous studies,the strategy for strengthing comprehensive development of land around the subway stations, increasing bus supporting along the subway, to deepen the research of urban rail transit system is preferd to the strategy of making use of the benefits of increase of property.
Keywords/Search Tags:urban rapid rail transit, nanchang metro line 1, residential price, Hedonic model, prediction models
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