The Impact Study On Value Of The Surrounding Real Estate By URRT

It has a 140-year-long history in development of urban rail transit so far. With the development of urbanization, the building of URRT has been in the stage of high-speed development in China. About 10 cities include Beijing, Shanghai, Guangzhou, Tianjin, Shenzhen, Dalian, Changchun, Wuhan, Chongqing, and Nanjing which URRT lines have come into operation. The advantages of URRT, such as huge capacity of transportation, little need of land, high speed, etc, become a most useful method to solve traffic problems in big cities. At the same time the URRT from the beginning construction to operational, which stimulate the intensity of land development and improve land use for the surrounding religions, bringing great added value to the surrounding real estate. The URRT construction investment is enormous, most of the funds are provided by the government. It is a tremendous burden for government. But the government and the URRT company have not given its proper receipts and most of growth profit that caused by the externality of URRT has gone to the developers and owneres of surrounding real estates.This paper analyze the value-added mechanism that URRT bring to surrounding real estate by use of related theory of URRT and real estate value. Next focus on dummy data of surrounding real estate along before and after the Beijing URRT 13th line construction, and further validation of added value effect of surrounding real estate that brought by URRT which through apply Transportation-Cost model. In the paper, it is stressed on analysing the development history of URRT and some of its characteristics besides introduce some main factors that impact on the real estate value. Next the paper makes an intensive study of some related theories of the URRT and real estate value. Then I expound impact mechanism that URRT to real estate value through these theories. Following takes data of some surrounding real estate before and after Beijing URRT 13th line built into generalized Transportation-Cost model, arrival at the conclusion that there is an obvious added value effect of surrounding real estate by Beijing URRT 13th line.In the end, for the investment and financing condition of URRT construction in china, proposing rationalization proposal that joint development URRT and surrounding land.