Value-added effects of transit-oriented development: The impact of urban rail on commercial property values with consideration of spatial heterogeneity

2017 ◽  
Vol 97 (4) ◽  
pp. 1375-1396 ◽  
Author(s):  
Haitao Yu ◽  
Hao Pang ◽  
Ming Zhang
Keyword(s):  
Spatial Heterogeneity ◽  
Property Values ◽  
Value Added ◽  
Transit Oriented Development ◽  
Commercial Property ◽  
Urban Rail ◽  
The Impact

Mechanism Analysis of the Impact on Chinese Urban Rail Transit Construction on the Surrounding Real Estate Prices

2012 ◽  
Vol 178-181 ◽  
pp. 1866-1869
Author(s):  
Jian Liang Lv ◽  
Ying Jiang
Keyword(s):  
Real Estate ◽  
Land Development ◽  
Value Added ◽  
Urban Rail Transit ◽  
Rail Transit ◽  
Mechanism Analysis ◽  
The Real Estate ◽  
Urban Rail ◽  
Real Estate Prices ◽  
The Impact

This paper first studies the real estate prices and and its effecting factors, and point out the construction of urban rail transit effects large on its surrounding real estate prices. Then, the paper clarifies the theoretical basis of its effects, and finally analyzes mechanism that construction of rail transit can make its surrounding real estate value-added. The urban rail transit construction can improve surrounding property accessibility, the residents travel convenient, increasing the intense of land development, changing nature of land use, adjusting industrial layout, accelerating expanded urbanized areas, raising employment opportunities, promoting socio-economic prosperity and development. It provides reference for the reasonable allocation of late-stage value-added benefits, and people can get a comprehensive and systematic understanding of the impact of urban rail transit construction and its surrounding real estate prices.

scholarly journals Evaluation of the land value-added benefit brought by urban rail transit: The case in Changsha, China

2021 ◽  
Vol 14 (1) ◽  
pp. 563-582
Author(s):  
Wenbin Tang ◽  
Qingbin Cui ◽  
Feilian Zhang ◽  
Hongyan Yan
Keyword(s):  
Impact Strength ◽  
Value Added ◽  
Urban Rail Transit ◽  
Strategy Development ◽  
Rail Transit ◽  
Land Value ◽  
Value Capture ◽  
Urban Rail ◽  
Added Benefit ◽  
The Impact

Accurate evaluation of land value-added benefit brought by urban rail transit (URT) is critical for project investment decision making and value capture strategy development. Early studies have focused on the value impact strength under the assumption of the same impact range for all stations. However, the value impact range at different stations may vary owing to different accessibilities. Therefore, the present study releases this assumption and incorporates the changed impact range into the land value-added analysis. It presents a method to determine the range of land value-added impact and sample selection using the generalized transportation cost model, then spatial econometric models are further developed to estimate the impact strength. On the basis of these models, the entire value-added benefit brought by URT is evaluated. A case study of the Changsha Metro Line 2 in China is discussed to demonstrate the procedure, model, and analysis of spatial impact. The empirical analysis shows a dumbbell-shaped impact on the land value-added benefit along the transit line with a distance-dependent pattern at each station. In addition, the land value-added benefit from Changsha Metro Line 2 reached 12.099 billion USD. Lastly, two main value-added benefit capture modes are discussed, namely, land integration development and special land tax.

Impact of Urban Rail Transit on Residential Property Values in Hangzhou

2014 ◽  
Vol 580-583 ◽  
pp. 1306-1310
Author(s):  
Lian Fa Ruan ◽  
Jing Ping Yin
Keyword(s):  
Property Values ◽  
Positive Influence ◽  
Hedonic Pricing ◽  
Urban Rail Transit ◽  
Residential Property ◽  
Rail Transit ◽  
Transit System ◽  
Urban Rail ◽  
Residential Property Values ◽  
The Impact

This research investigates the impact of the first metro line (Line 1) in Hangzhou on its station-area residential property values. A hedonic pricing model shows that Line 1 had a statistically significant and positive effect on residential prices in its operation period. Compared with its construction phase, the impact did not change significantly, indicating that metro rail transit had a long-term positive influence on the station-area property values. These findings suggest that such capitalization is likely to lead to high-density and transportation-oriented development. While planning the urban rail transit system, such impact should be fully considered.

scholarly journals Analyzing the Influence of Metro Stations on Commercial Property Values in Delhi: A Hedonic Approach

2021 ◽  
Vol 29 (4) ◽  
pp. 10-22
Author(s):  
Shaleen Singhal ◽  
Yogesh Tyagi
Keyword(s):  
Property Values ◽  
Commercial Real Estate ◽  
Hedonic Price ◽  
Transit System ◽  
Commercial Property ◽  
Hedonic Price Analysis ◽  
Before And After ◽  
Blue Line ◽  
Planning And Construction ◽  
The Impact

Abstract The effect of proximity to a transit system on property values has become a key issue of debate regarding public infrastructure and economic development. This article aims to examine the impact of selected stations along the Blue line of Delhi Mass Rapid Transit System (MRTS) on commercial property prices. The research analyzed 1,413 commercial property parcels sold before and after the commissioning of Blue line in 2005. Hedonic Price Analysis (HPA) was used to estimate the effects of proximity to the metro rail on commercial property values. The method was applied to two time periods, i.e., from 2000-2004 and 2005-2008, coinciding with planning and construction (pre-commissioning phase and the operation phase (post-commissioning phase) of metro rail using actual sale prices of commercial units. The results indicate that a station node shows a negative trend during the planning and construction period. However, the operation period has produced a significant price premium associated with commercial properties, connected with improved accessibility. The coefficients indicate that MRTS has induced an increase in prices from INR 732.80 to INR 246.19, and its radius of impact covers an area of approximately 1/2 km from the stations. The methodology and results provide insight with a specific focus on commercial real estate values in other metropolitan cities developing and expanding MRTSs.

Impact of Transit-Oriented Development on Residential Property Values around Urban Rail Stations

2020 ◽  
Vol 2674 (4) ◽  
pp. 362-372
Author(s):  
Yang Jiang ◽  
Peiqin Gu ◽  
Zhejing Cao ◽  
Yulin Chen
Keyword(s):  
Regression Models ◽  
Property Values ◽  
Local Property ◽  
Transit Oriented Development ◽  
Multilevel Regression ◽  
Urban Rail ◽  
Catchment Areas ◽  
Residential Properties ◽  
Indicator Framework

Few previous studies have linked transit-oriented development (TOD) patterns and property values at the station level in the Chinese context. Using Shanghai as a case study, we obtained 21,094 transaction records within the 800 m radius catchment areas of 280 urban rail stations from a local property agency. A performance-based TOD indicator framework was established to capture built-environment features for density, diversity, and design dimensions. Using open-source geospatial data, we generated a series of TOD indicators for each station catchment area and further developed a composite TOD index with information entropy weighting. The results of multilevel regression models showed that within urban rail station catchment areas, residential properties with higher TOD levels were positively associated with higher value. In addition, increasing pedestrian and bike accessibility and integrating diversified urban functions around stations could create more value for nearby residential properties.

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