A Study Of The Influence Of Urban Transport Upon Residential Land Price

This paper uses Beijing as a case study, measures the accessibility of land by defining the"commuting time distance", uses commuting time as the independent variable to simulate the residential land price curve, and reveals the spatial pattern of residential land price caused by the differentiation of accessibility. The possible changes of the spatial pattern of residential land price caused by the expected improvement of transport conditions was also discussed in this paper, through the empirical study of the influence of No.4 & No.10 Beijing Subway's construction upon the spatial pattern of residential land price. The main content and conclusions are as follows.Firstly, through the analysis of the land market of Beijing, we may find the distribution patterns of land transaction points are changing with time, but it is strongly connected with circuit roads and highways.Secondly, this paper estimates the commuting time of"travel by road"and"travel by both road and train"separately, and uses physical distance and commuting time separately as independent variables to stimulate the residential land price curve. The result shows that when commuting time from the city center is within 1 hour or 1.5 hours, residential land price declines with the increment of distance. And the result also shows that r, residential land price declines much quicker with the increment of commuting time than with the increment of physical distance from the city center.Thirdly, based on the Hedonic Price Model, this paper analysis the changes of the spatial pattern of residential land price caused by the construction of No.4 & No.10 Beijing Subway. The result shows that residential land price goes up much higher in the suburban area than in the downtown area, and the residential land price would be flatter. The results also show that residential land price goes up higher within the expected influencing area of the rail stop which is still under construction.This study provides useful test for theories of urban land price and the relationship between transportation and land values. In practice, the result of this paper also provides useful information for the decision-making process of governors, investors and individuals.