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 How Does Urban Rail Transit Influence Residential Property Values? Evidence from An Emerging Chinese Megacity

2019 ◽  
Vol 11 (2) ◽  
pp. 534 ◽  
Author(s):  
Dongfang Zhang ◽  
Jingjuan Jiao
Keyword(s):  
Real Estate ◽  
Positive Impact ◽  
Property Values ◽  
Urban Rail Transit ◽  
Residential Property ◽  
Rail Transit ◽  
Data Set ◽  
Real Estate Markets ◽  
Urban Rail ◽  
Residential Property Values

Urban rail transit (URT) plays crucial economic, social, and environmental roles and may generate positive externalities that can influence the residential property values (RPVs) in real estate markets. Little attention has been given to exploring the impacts with respect to both the spatial and temporal perspectives. This paper explores the impacts of URT on the RPVs of 480 gated communities with respect to the spatial and temporal dimensions using the hedonic price model and a panel data set from Zhengzhou for 2012–2016. The results show the following: (1) URT does have a significant positive impact on the RPVs in all the selected years from 2012 to 2016, and the influencing strength was a “U-shape” with the increased travel time to the nearest URT stations in most of the selected years. Specially, there is quite some interaction between the temporal and spatial dimensions. (2) The influencing strength of URT during its early stages of planning and construction was higher than that during the operation periods, which is quite different from previous research that uses these first-tier cities such as Beijing and Shanghai in China. (3) Regarding the operating period, the influencing strength reached its peak point after two years of the URT line operating. The results of this paper could provide some new ideas for policy-makers, real estate developers, and even the consumers in real estate markets.

scholarly journals The impact of urban light rail transit on double-story terraced property values in the Greater Kuala Lumpur, Malaysia

2021 ◽  
Vol 53 (1) ◽  
Author(s):  
Mohd Faris Dziauddin
Keyword(s):  
Property Values ◽  
Urban Rail Transit ◽  
Urban Region ◽  
Residential Property ◽  
Light Rail ◽  
Rail Transit ◽  
Light Rail Transit ◽  
Kuala Lumpur ◽  
Residential Property Values ◽  
The Impact

Introducing a rail transit system into an urban region is expected to increase land values, and subsequently, residential property values. Despite this general belief, there has been limited research on the impact of proximity to urban light rail transit stations in developing countries setting. This study, therefore, investigates the impact of proximity to urban light rail transit on double-story terraced property values in the Greater Kuala Lumpur, Malaysia, using hedonic pricing model. The findings suggest urban light rail transit has a positive and significant impact on surrounding double-story terraced residential property values – estimated at a premium of 12.3% and 9.8% for properties located up to 1000 m and 1001 – 2000 m to the nearest light rail transit station respectively. The findings of the study are useful for investors and developers, namely to build more houses near urban rail transit infrastructure since they lead to significant appreciation in value.

The impact of senior house developments on surrounding residential property values

2016 ◽  
Vol 34 (5) ◽  
pp. 415-433 ◽  
Author(s):  
Antti Tapio Kurvinen ◽  
Tanja Tyvimaa
Keyword(s):  
Positive Impact ◽  
Property Values ◽  
Hedonic Pricing ◽  
Residential Property ◽  
Content Type ◽  
Senior Housing ◽  
Housing Developments ◽  
Matching Procedure ◽  
Residential Property Values ◽  
The Impact

Purpose Even as many countries are facing changes in demographic profile and new types of senior housing developments are becoming more important, there is limited evidence for the development impact of a senior house on surrounding residential property values. The purpose of this paper is to address the void in knowledge, investigating the impact of senior house developments on apartment values in Tampere, Finland. Design/methodology/approach To specify valuation effects of proximate senior house development projects, advanced research design combining propensity score matching procedure and hedonic pricing models is used. Findings The results show that a senior house development has a significant positive impact on proximate residential property values within a 500 metre radius. The impact is found to be the highest in underdeveloped neighbourhoods. Nevertheless, in neighbourhoods where property values and demand for housing units are higher and senior house developments fall into the criteria of infill development, a premium is lower, but still statistically significant and notable in magnitude. Research limitations/implications This paper studies apartment values only in Tampere, Finland, and it is important to notice that local regulations and market conditions may have a notable impact on the outcomes from senior house developments. Originality/value This study is the first of its kind to address a number of empirical issues and provide with statistically significant evidence for positive impacts from senior house developments – encouraging investors and developers to build senior houses.

scholarly journals Impact of light rail line on residential property values – a case of Sydney, Australia

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rotimi Boluwatife Abidoye ◽  
Felice Fam ◽  
Olalekan Shamsideen Oshodi ◽  
Abiodun Kolawole Oyetunji
Keyword(s):  
Property Values ◽  
Hedonic Pricing ◽  
Residential Property ◽  
Light Rail ◽  
Broad Perspective ◽  
Content Type ◽  
Residential Properties ◽  
Residential Property Values ◽  
The Impact ◽  
Sydney Australia

Purpose The construction of new transportation infrastructure tends to affect the adjoining properties, economy and environment. In particular, studies have investigated the change in the value of properties due to increased access to transportation facilities. The purpose of this paper is to examine the impact of the recently completed light rail on residential property values in Sydney, Australia. Design/methodology/approach Sales data of residential properties was extracted from the CoreLogic’s RP database. The hedonic pricing model was used to assess the effect of proximity to the light rail stops. Two models were developed for the announcement and construction phases of the light rail project. Findings It was found that during the announcement phase, properties located within the 400 m radius from the station were 3.3% more expensive than those within the 400–800 radius. At the construction stage, the properties within the 0–400 m radius from the stops sold at 3.1% more than those within the 400–800 m radius. This study concludes that a positive relationship exists between the values of residential property and proximity to light rail stations. Practical implications These findings would be useful for policymakers to develop land value capture programs for infrastructure funding and to real estate professionals and investors for investment in future transit-oriented development. Originality/value Previous studies that aimed at examining the impact of light rails on residential properties values around universities are limited. Hence, this study provides a broad perspective on the impact of light rail on residential properties values.

Sign in / Sign up

Export Citation Format

Share Document