Research On The Impact Of Urban Rail Transit On The Value Of Real Estate Along The Line

Urban rail transit in China is developing vigorously.Compared with the traditional mode of public transport,urban rail transit is more green,efficient and convenient,and has gradually become the "mainstay" of urban public transport.With the aggravation of urbanization,the boundaries of cities in our country are gradually expanding to the suburbs.A large number of rural population pour into cities,which leads to the increase of urban population density,the deterioration of urban traffic and air quality.Urban rail transit has become a magic weapon to solve these urban problems.However,problems such as high construction funds and Unbalanced Income and expenditure after operation restrict the development of urban rail transit.While these problems exist,the real estate prices along the rail transit are rising.Therefore,it is necessary to constantly explore the "external effects" of rail transit and study the impact of urban rail transit on real estate value.Therefore,taking Hefei Metro Line 2 as an example,this paper makes a quantitative study on the impact of Metro Line 2 on the value of real estate along the line,which is conducive to the internalization of the external benefits of rail transit,provides a reference for the government to raise funds,and guides the decision-making of real estate developers and consumers.This paper takes Hefei Metro Line 2 as the research object,starting with theoretical analysis,summarizes a large number of relevant literature at home and abroad,and understands the theoretical principles and research ideas of the impact of urban rail transit on the value of real estate along the line.Then the advantages and disadvantages of various methods such as traffic cost model,time virtual variable and characteristic price index method are compared,and the mixed time virtual variable method is finally determined as the method model in this paper.After determining the research model,the dependent and independent variables of this study are selected and confirmed.In order to unify the research variables and ensure the accuracy of the conclusions,this paper takes the newly built residential buildings along Hefei Metro Line 2 as the research object,takes the sample house price as dependent variable,and takes the location,neighborhood and structural characteristics as independent variables.The reliability and accuracy of the original data are important factors affecting the accuracy and reasonableness of the conclusions.The focus and difficulty of this paper is the collection of the original data.The research period of this paper is from 2011 to 2018,including the planning period,construction period and operation period of Metro Line 2.By means of Internet search and field survey,usingXin'an Real Estate Network,Hefei Price Network,Hefei Real Estate Market Information Platform,Baidu Map and other Internet means,this paper collects the price of new residential buildings and related characteristic variable values within 2km of 24 metro stations of Hefei Metro Line 2.And with the help of SPSS24.0 and other software to screen independent variables,the factors affecting housing prices are eliminated,and then linear regression processing is carried out to get the corresponding characteristic variable parameters,and further get the price index,ring ratio and fixed-base price change rate,thus drawing the following conclusions:(1)The effect of Hefei Metro Line 2 on housing prices along the line is longer in operation than in construction.(2)The initial construction of Hefei Metro Line 2 has a negative impact on the housing prices along the line,which shows a negative growth effect on the housing prices.(3)Before 2013,the value-added effect of Hefei Metro Line 2 on housing prices is not significant,but in 2014,housing prices will increase significantly,and the value-added effect will reach the maximum when the Metro is opened and operated in 2018.(4)The radiation range of the value-added effect of Hefei Metro Line 2 on house prices along the line is 1.5 km,and when the radiation range exceeds 1.5 km,the value-added effect is not significant.(5)The average value of house prices along Hefei Metro Line 2 is 639.76 yuan per hectare within the effective radiation range of 1500 m.