| Urban Rapid Metro Transit (URMT) is a safe,comfortable, convenient, fast, effective, environment-friendly urban infrastructure system that provides mass Public transportation services with subsidies from the Government. URMT plays an active and key role to reduce problems such as shortage of land resources traffic congestions and air pollution that many cities are facing. Meanwhile, the value of real estate around metro stations is dramatically increased due to the development of URMT. So it is imperative to analyze the quantified effects of URMT development on the adjacent property and establish a complementary relationship between URMT development and the use of the adjacent land.In this paper, based on literature review, we firstly analyzes the URMT properties and the influence factors of real estate value and further explores the principles of real estate value increment. Moreover, we elaborate the hedonic price model (HPM), one kind of economic model for quantitatively analyzing the effects of URMT on the real estate value, then examine this model's effectiveness and applicability, and eventually choose HPM model as the basic model to solve the problem brought by this paper. Finally, according to the data of real estate around Shenzhen Metro line-1 and Metro line-4 and an analysis instrument SPSS, the relationship between URMT and round real estate value was confirmed by HPM model.The results show that: (1) HPM model could be used to analyze the relation between URMT and the adjacent real estate value. (2) Shenzhen Metro line-1 and Metro line-4 underground train has strong influence on the real estate value with the radius of 1.5km. Inside the radius of 0.2km, 0.2km-0.4km, 0.4km-0.6km, 0.6km-0.8km, 0.8km-1km, 1km-1.2km, and 1.2km-1.5km, the real estate there was increased by 29.2%, 32.7%, 28.9%, 30.5%, 24%, 21%, 11.2%, respectively. |
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