The Spatial Effect Study Of Urban Rail Transit On Real Estate Values

With the acceleration of urbanization process and the increasing urban population in China, urban transport faces the problem of congested roads and chaotic traffic. Because of its fast, punctual,transport volume, accident rate, green and other features, urban rail transit has become the primary methods to relieve urban traffic pressure. Many scholars have noted that urban rail transport not only brings convenient transportation to the residents along, but also lead to the economic development along the route, especially prominent in the effect on real estate prices along the route. It’s essential for quantitative analysis of the impact of urban rail traffic on real estate prices to promote urban rail transportation along the win-win cooperation of real estate developers. And it also provides decision-making reference for government departments, buyers or investor.Due to the different degree of completeness of each city’s economic development, urban planning and layout, transportation, etc., the price impact of different cities along the rail traffic on real estate should also be different. In this paper, Hangzhou rail traffic as a backdrop, Metro Line1, for example, the impact of Hangzhou Metro Line1along the line of real estate prices.The first chapter introduces the research background and significance of this paper. The second chapter describes the research achievements in related fields, and summarise the current shortcomings of current researches. The third chapter bring qualitative analysis of the urban rail transport in the mechanism of action along the real estate prices and the introduction of four spatial price models, including general linear model (OLS), spatial lag price model (SLM), the spatial error model price (SEM) and spatial Durbin model (SDM), and introduced four models of the comparative method. The fourth chapter places the sample data along the Hangzhou Metro Line1some residential real estate, for example, to build a spatial price model, from a quantitative point of view to study the spatial effects of urban rail transport on the surrounding real estate prices, and concludes with the surrounding urban rail transit quantitative real estate prices affect the conclusions. The fifth chapter will summarize the research conclusions and relevant suggestions on the basis of empirical and policy inspiration, and put forward some shortcomings of this paper.