Research On A Cross Market Study On Spatio-Temporal Effect Of Urban Rail Transit Premium

As the urbanization rate of China grows rapidly,the traffic problem and short of house supply is becoming worse.Urban rail transit system is a good way to solve traffic problem in large cities,due to its mass Carrying capacity and less pollution.However,urban rail transit system also cause huge raise of house price and rent which locates near the stations.Due to the urban rail transit system,the rent seems to raise more than house price.Therefore,this paper studies how the plan?construction and operation of urban rail transit system affects the price and rent of those properties near the line.Based on the current research abroad and domestic,this paper studies the time and space effects of house price and rent caused by urban rail transit system.Under the structure of hedonic model,this paper use difference in difference method to build space effect model and time effect model.The space effect model studies how the distance from properties to station affects house price and rent.The time effect model studies how the different time spot of urban rail transit system affects house price and rent.According to the data of Guangzhou metro line 6,the result shows that both house price and rent appears to raise more as the distance between station and properties declines.The rise of rent is much higher than house price's.When it goes to the time effect,rent and house price have many differences.Rent is not sensitive to the expectation of traffic situation improvement,but it is more sensitive to real traffic situation changes than house price.During planning period,house price rises 16.02%,while rent has no significant change.During construction period,both house price and rent declines,but rent declines much more.During operation period,both house price and rent rise,but rent rises much more.