Effects On The Subway For Housing Price Hedonic Model

Urban rail transit project has been a concern in the field of social groups.Thegroups include decision-makers representing the interests of society as a whole, andto rail transit project investors, real estate developers and the general public. Widecoverage of urban rail project research system, mainly covers the urban economics,urban planning, real estate economics, such as traffic engineering disciplineknowledge. Urban rail transit can enhance the accessibility of surrounding property,life, business, entertainment and other facilities to the site, the populationagglomeration. Site around the buildings housing conditions improved, causing pricesto rise. The research of real estate premium effect of urban rail transit, is conduciveto promoting harmonious and stable development of urban rail transit and real estatemarket.Based on a large number of Literature collection and study found that, manyscholars use Hedonic features on real estate premium effect of urban rail transit. Inour country,the study of Urban rail transit impact on site surrounding house prices isless.In China,discussing characteristics of price factors, considering not enoughcomprehensive factors, from two aspects of space and time validity analysis of theimpact is less. Kunming urban rail transit development is just beginning. the lack ofan empirical analysis of the real estate premium effect of rail transit.The author based on Hedonic model for metro line1and2, the site surroundingthe impact of housing prices has carried on the empirical analysis.I attempts throughthe empirical analysis, calculate the kunming subway line1and2to site surroundingresidential property prices. In the "planning","construction" period of sitesurrounding residential prices have the degree of impact and influence,and putsforward relevant policy Suggestions. In the empirical analysis in the process ofcollecting data related prices,and by use of GIS software as a tool software for theestablishment of the spatial database and access to data to relevant characteristics.Data collected by the SPSS statistical software for all line of quantitative research.The results of the study are as follows:(1).The results of spatial effect on Research showed that,Nearest subway stations0-0.5km,0.5to1.0km,1-1.5-2.0km and1.5km,2-2.5km circle area of residentialprices showed a trend of decline. Site from0to0.5km range of residential houseprices2.93%higher than the price range of0.5to1.0km. Site from0.5to1.0kmrange of residential house prices3.98%higher than the price range of1.0to1.5km.Site from1.0to1.5km range of residential house prices2.64%higher than the pricerange of1.5to2.0km. At1.5km to2km subway impact factors for housing pricetend to be1basically remain unchanged. Preliminary determination of subway’ssphere of influence on surrounding housing price at about1.5km.1.5km away hasbeen not well reflect the effect of metro station. (2)The results showed that the time effect,during2008-2009, the subway havetime effect on housing price is not clearly. After the Kunming metro "planning"and"construction" information disclosure, Both in terms of Set the base rate of pricechange or month-on-month price rate of change, In2010,it is a positive rate ofchange and in this year to reach the highest gain. This to some extent reflects themetro line1and2,"planning" and "construction" of information disclosure onsurrounding real estate has a good effect on Kunming city metro line1and2. The sitefor the construction of surrounding residential prices are obvious positive effect.