Research On Effect Of Urban Rail Transit On House Price Nearby

With the rapid development of the economy and up-growing of the level of urbanization in our country, the development of city is faced up with some problems including crowded road, chaos traffic and devastating environment.Urban rail transit, as a new public transit, is convenient and efficient, safe and comfortable,energy saving and environmental protection,which makes it a effective way to cope with those urbanization problems. However, the development of urban rail transit is also faced up with some problems such as capital shortage, inability to make ends meet. While urban rail transit brings much convenience to the residence alongside railway, it also creates external effects,which profoundly improves the accessibility of neighbourhood property , promotes the rapid development of real estates along the line , and increases the value of real estates nearby. Doing quantitative research on the impact of urban rail transit to the real estates nearby is influential and of practical value to realize the internalization of urban rail transit external effects, to promote the joint development of urban rail transit and real estate alongside, besides , it can also provide reference to government , estates developers and consumers.However,to different cities,as a result of its different economy development strategy,urban planning and the implement of infrastructures,therefore the urban rail transit brings different increment benefit to the real estate. This article, based on the construction of ChongQing urban rail transit, applies metro line one to research the impact of urban rail transit to the residential price. and by this way, this research is expected to provide statistics reference to the joint development of urban rail transit and real estate alongside, and also provide reference to government, estates developers and consumers.In this research, based on the summery of related studies both home and abroad, it firstly illustrates the theory of urban rail transit and residential price.Then,on the theoretical research, it explores the mechanism of impact of urban rail transit to neighbourhood residential price from qualitative angle.In the next step, it develops Hedonic Price Model by applying the sample statistics from part of the residential estates alongside metro line one, which analyses influence of urban rail transit on the residential price from quantitative angle, including space effect and time effect.In the end, it makes some proposals about the joint development of urban rail transit and real estate along the line .