The Impact Analysis Of Rail Transit Construction On Real Estate And Residential Location Choice

With the great strides in rail transportation technology and the big lift of the economic level,the development of rail transit in China comes into a new stage.By 2020,first-tier cities are expected to possess perfect rail transit network,while second-tier cities will accomplish fundamental rail transit network.Other cities could also enter a rapid development stage.As high efficient urban transport infrastructure,the construction of the rail transit could have a significant impact on the trip mode choosing,which influences the commuting time of residents directly.And then the city pattern and the real estate market along the rail transit will be changed simultaneously.In the previous prediction research,the state of the road traffic after the construction of rail transit was often assumed directly without considering the varying process,while the resident's selection state and housing prices forecast were also obtained immediately.Actually after the operation of the rail transit,the whole traffic system will be changed gradually.With the variation of the road traffic flow,residents will choose the highest time value commuting tools and the highest aggregate utility residential location in the process of measuring every means of transport and every site area,eventually making the traffic system and the housing market reach equilibrium.This paper first establishes a customer surplus model with residential income level,housing price and transportation accessibility,and then sets up a residential location choice model in a Logit manner to determine the residential location distribution,thus to investigate how the rail transit construction affects the residential location choice.In the combined model of residential location choice and self-drive travel mode,the road traffic flow variation is calculated,and then the residential location choices for residents with different income levels are obtained,which is caused by the travel cost variation after rail transit construction.Additionally,the prediction of the housing price appreciation after rail transit operation is calculated based on Alonso's Residential Location Theory,and then gets the residential location choice with the secondary effect.The last part takes the transit line l in Fuzhou City as an example,analyzing its 12 sites along it.The numerical result indicates that the residents move away from the city center with the effect of rail transit construction.Because of the lower time value,the residents with lower salary are scarcely affected,while the residents with higher salary move forward to the city center obviously.With the improvement of the operation speed,the proportion of residents who move to the city center will be more significant.It also shows that the impact of the Fuzhou transit line 1 on the price appreciation is from 1559.38 yuan/m2to 2953.63 yuan/m2,while the residents with higher salary will be affected to move forward to the city center.