Research On Influence Of Peripheral Residence Price Affected By Xi’an No.2Metro Using Hedonic Price Model

Current research conditions home and abroad related to this area are described inthis paper, research significance and purpose are also formulated. Theories on urban railtransit and real estate value are discoursed, discussing the influence on urban spacesetting affected by urban rail transit. And influencing mechanism on peripheral realestate value affected by urban rail transit is also under discussion. Research methods onrail transit and real estate price are systematically introduced, including TransportationCost Model, Hedonic Model and Linear Expenditure System Hedonic Model. Based onthe comparisons of such three models, consider their applicability and effectiveness tothe target research subject, Hedonic Model is chose as the basic model. Take referenceto documents home and abroad to find out the descriptions on residence hedonicvariables, combining with the realities of Xi’an real estate market, hedonic variables arethen determined. Linear Model, Log-linear Model, Log Model and Semi-Log Model inHedonic Model are compared. Linear Model and Log-linear Model are chose to do theprimary calculations, and linear model is determined finally as the main method to dothe case analysis.Xi’an residence market is viewed as the segment market, and peripheral residenceof Xi’an No.2Metro is the sample, qualitative analysis and quantitative analysis areemployed to do the research on different laws of the influence on peripheral residenceprice affected by Xi’an No.2Metro. At the beginning, some conclusions can be madethrough qualitative methods. There is great influence on the peripheral residence priceof Xi’an No.2Metro indeed. The price of peripheral residence is obviously higher thanaverage residence all around the city. At the same time, the influencing result is least inthe inner city. On the other hand, the influencing aftermath is relatively great in northern and southern parts of the city. Furthermore, linear form of hedonic price model isapplied in the paper, and EViews is employed to do the regressive calculations. Then,influence on peripheral residence price affected by Xi’an No.2Metro can bequantitatively analyzed on space and time perspectives. The influence on the residenceprice is obvious in the first year of beginnings of No.2metro constructions and the yearson the verge of completions. On the other side, there aren’t great fluctuations in theother years. As the distance between residence and metro stations rises, the price isdescending gradually and presenting linearity. And such descending trend is slowerinner city than in southern and northern parts of city. Customers who prefer inner cityresidence would think a lot of the convenience of living environment, while people whochoose residence in south and north part of the city would emphasize more ontransportation convenience and living environment comfort.Finally, the weakness in the paper is indicated as well as above principalconclusions, and following outlook is also formulated.