The Impact Study On Price Of The Surrounding Real Estate By Urban Rail Transit

With the rapid development of the urban rail transit in the world, there are variousforms and systems which are improved constantly. Although the urban rail transit inChina started late compared with other developed counties, its development is ratherfast. Due to high-speed economical development and accelerating the process ofurbanization, it is not rare to find the problems of traffic congestion, and deterioration ofthe ecological environment. As a result, the urban rail transit becomes the most effectiveway to solve the problems caused by urbanization which has a great deal of advantages,such as the giant ability of transportation, fast running, safety, comfort, energyconservation,environmental protection and so on. And the operation of urban rail transitincreases the utilization rate of the surrounding land as well, promoting the rise in thesurrounding real estate prices. However, the pre-construction of urban rail transit needshuge investment. In terms of China’s current situation, most of the construction funds ofurban rail transit are provided by government, but the government has not gained fromthe operation of urban rail transit. And because of the limited financial capability oflocal government, it restricts the development of urban rail transit in big cities withlarge populations. The study of this article helps to form a mechanism in which hugeeconomic benefits coming from urban rail transit return to programs, which promotingsustainable development of urban rail transit. To take No.2Line of Xi’an subway forexample, this article analyzes the impact of urban rail transport on the surrounding realestate price using the method of qualitative combining with quantitative analysis andexplores the development mode of urban rail transit and the real estate along lines. On the premise of explicating the research findings of relevant fields at home andabroad, this paper analyzed correlative factors on the change of real estate price andstudied the effects of urban rail transit on the surrounding real estate prices with amethod of correlative theory. Then, based on the construction of urban rail transit in thecity of Xi’an, this article analyzed qualitatively distribute regulation of surrounding realestate prices of No.2line subway using the method of spatial analysis of geographicalinformative system, and analyzed quantitatively effects on the change of real estateprice applying to hedonic price model. Based on this, this paper analyzed thedevelopment mode of urban rail transit and the real estate along lines, and proposedsome related recommendations on the joint development about construction of urbanrail transit and surrounding real estate. The study may offer some references for thegovernment of Xi’an, the department of public transit planning and construction, realestate development companies and some purchasers, which is benefit for promotinggood development of urban rail transit.