Space-time Effect Of Urban Rail Transit On House Prices

With the development of society and the progress of urbanization, large crowds of people are moving to cities, these have brought great pressure to the urban traffic. With advantages such as large capacity, low pollution, high speed, high punctuality, comfort, and higher convenience degree, Urban Rail Transit has became one of the main tools of public transport, and it can effectively alleviate the pressure of urban traffic. Meanwhile, the utilization of surrounding land resources was partly increased by the Urban Rail Transit, and it will have a great role in promoting the development of the real estate. By analyzing the influence of Urban Rail Transit on the housing price, the win-win co-operation of Urban Real Transit and real estate developer will be promoted, and the government departments, buyers or investor will be provided decision-making reference. So that it has great positive practical significance.Based on the present domestic and overseas production, the influence of Urban Rail Transit on real estate prices from construction to operation was chosen as the research, and the geostatistics method and spatial econometrics method were combined used to study the changes of the effects that Urban Rail Transit have on their surrounding house prices at the whole stage that from construction to operation of Urban Rail Transit.The GIS software was used to analyze the spatial interpolation, and draw contour map plotting to analyze the influence of the Urban Real Transit on the house price at every year during its operation of the project. Meanwhile, the spatial lag model was used to calculate the influence of the Urban Real Transit on the house price, and analyze the changes of the influence. Then model formula of the space-time effect of Urban Rail Transit on the urban house price was be built based on the spatial lag model difference-in- differences model, and the variables of the model were be selected. The impact of the operation of Urban Real Transit on house price will be calculated by the model. Finally, the space-time effect of Urban Rail Transit model was validated by taken Xi’an Metro Line 1 for example. The results show that the model can be applied in the study of the space-time effect of Urban Rail Transit on the urban house price.