The Impacts Of The Rail Transit To The Price Of House

It has been recognized that the urban rail transit(URT) system can impact theprice of the real estate. Through qualitative analysis and quantitative analysis, makingthe metro line 1,2 and 3 as the case, this paper analyzes the different rules that theshanghai URT impact on the price of the house.Firstly, through the qualitative analysis, this paper proves that the house aroundthe metro station can benefit from the URT, and the impact radius of the URT isdifferent in different region, from the center to the suburb, the impact radius isextending, and try to explain the rules. This paper also find that the impact degree isdifferent for the house in different ring, from the inner ring to the outer ring, thedegree of benefits from the URT is increasing. And the impact degree is different fordifferent kinds of metro station, the node is highest, the suburb is second, and thecenter is lowest. This paper also finds that the impact degree is different for differentlines, and points out that the reason is that different line go through different regionsand had been open in different times.Secondly, this paper introduces the methodology framework, hedonic pricemethod, and using this model, this paper calculate the different impacts of URT onreal estate property values, finding the main factor that impacts the price of housearound metro station, testing the rules that come from the qualitative analysis, andexplaining the reason of these rules.Finally, the problems requiring further studies are discussed...