The Empirical Analysis About The Effect Of Metro Line1 In Nanchang On Surrounding Housing Prices

With the rapid urbanization process in China, the urban population increased dramatically, increasingly congested city traffic has brought great inconvenience to people’s daily travel life. Metro rail as the most common mode of transport, its fast,punctual, safe, large volume, pollution, etc. to become an important way to solve traffic problems, transportation convenience has increasingly become the focus of the purchase consideration for consumers, so the subway, which can improve traffic congestion from the essence has been becoming one of the important factors that affect real estate prices.How to quantify the extent of the impact of science on the site surrounding metro real estate prices,which is important to a reasonable estimate of the surrounding land prices,a comprehensive development plan for real estate projects, adjust the layout of urban space.This paper summarizes the relevant researches, analyze the impact of the mechanism of urban rail transit to the site surrounding real estate prices, discusses the applicability and scientific research of several commonly used model, select Hedonic model, use STATA software, Analyze the spatial effects and time effects of Nanchang Metro Line 1 to the estate price in Empirical way。In terms of total rail traffic along the spatial effects impact on house prices, the current domestic research has been a lot, this article focuses on the study of rail traffic classification standards for various spatial effects affect prices, and clearly shows the differences by way of illustration。"Spatial effects" indicate that the Radiation radius of Nanchang Metro Line 1 is about 1.5 km, the most significant area is along the perimeter of 500 m radius, followed0.5-1km and 1- 1.5km radius of the area. compared to 1.5-2km radius area, the rates flexible in 500 m radius area, 0.5-1km radius area, 1-1.5km radius region is higher,17%、2.5% and 10.2%, respectively; study the effect of spatial properties of the different functional areas as follows: the degree of influence in decreasing order is park district,commercial and educational area; for different categories of real estate property types,Metro Line 1 project had no significant influence on Villa, had obvious effect on the commercial and residential real estate, whos elasticity is 29% and 6%,respectivity, and the impact on the commercial real estate than for ordinary residential;To different Area residential real estate, the degree of metro influence is Honggutan, Jingkai, Gaoxin,Qingyunpu, Xihu,and the Donghu district, on the whole,the influence to the new districe or old suburban area if higer than the old city."timeeffect" resultsshowthatbetween2009and2011,themetroline1 hasapositiveinfluenceinthehouseprice,andtheaffecteddegreeisdecreasing,butin2012,therehasbeenanegativeinfluence.inaddition,residentialpricehasbeenreflectedstrongestison "officialstart" node,followedbythe "publishsite" event,andfinally "allstarted" event.finally,thefindingsdidtherobusttestandhadacomprehensivesummaryofthecontents.accordingtotheresearchfindings,wegavepolicyrecommendationstorelatedsubjectrespectively,government,realestatedevelopersandhomebuyers..howmoreefficientuseofsubwayconstructionopportunitytoachievebetterefficiencyinresourceallocation,promotesocialharmony,isthedirectionofthejointeffortsofvarioussocietysubject.