The Empirical Research Of Impact On Real Estate Value Along Xi’an Metro

Underground railway, as a kind of urban rail road transit, is a new type of publictransport facilities. It has an advantage than the traditional public transport and privatetransport on the operation mode, the speed and capacity. There are characteristics such aslarge volume, low pollution, high punctuality, low accident rate, high speed and othercharacteristics. Now in the world it is generally accepted that it is the main method to solvethe urban traffic problem. The construction and operation of urban rail road transit willcertainly change the traffic network structure, and the change of traffic network structure willalso affect the location of real estate conditions, then resulting in the change of the real estateprice. Therefore, the quantitative research of urban rail transit to real estate price has animportant significance for the reasonable adjustment of city layout, reasonable planning anddevelopment site surrounding real estate and calculation of the land price.On the basis of related research made by scholars at home and abroad, the influencemechanism of urban rail transit to real estate value is analyzed theoretically. Hedonic pricemodel is chose to be the model in this paper through the comparison and analysis. The articletakes Xi’an metro line2as the research object, the residential real estate of Xi’an north city isresearch sample.73residential units’ relevant data is obtained to study the relationship of realestate’s influencing factors and real estate price. It takes the average sale price of each houseas dependent variable and ten characteristic factors as independent variables from the regionalcharacteristics, structure characteristics and neighborhood characteristics three aspects toanalyze the value of real estate. Using software for data regression analysis, we get theempirical research of Xi’an metro line2on surrounding real estate value-added benefits. Theconclusion is as follows: The influencing radius of the residential project value along Xi’anMetro line2is1000meters. And at a distance of500meters the extent of increasing pricereaches maximum, it is12.5%, with the average housing price appreciation amount￥876/m2.