| Urban rail transit is an effective and convenient, fast and high capacity of serviceurban public transport system that provides a great convenience for the work and life ofcity residents. In recent years, the rapid development of China’s urban rail transitconstruction has had a significant impact on urban housing prices. This effect there aresignificant differences in the location. The housing prices shows the sub-centerphenomenon around the subway in many cities. The existing literatures focus more onthe empirical analysis, lack of theoretical analysis about the functions of urban rail transitand housing price.This study based on the monocentric city model, which is widely used in theanalysis of urban housing price. And this paper extends the model by adding urban railtransit into it to estimate the effect of rail transit station on housing price. Urban railtransit will change the accessibility of the location along the rail station, and will cast thecosts of commuting. The impact of proximity to rail station on residential property valuesdiminishes with increasing distance from the rail station. Because of the effect of railtransit station, the housing prices will rise to a certain extent, and the higher the degree ofthe more recent promotion away from the site. In the empirical study of Xi’an, the paperfirstly introduces of the current situation of the development of urban rail transit in Xi’an,and then analyzes the sample data of measurement correlation to verify the hypothesesof this paper. |
