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.

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.

A financing mode of Urban Rail transit based on land value capture: A case study in Wuhan City

2017 ◽  
Vol 57 ◽  
pp. 59-67 ◽  
Author(s):  
Jun Sun ◽  
Tian Chen ◽  
Zuchen Cheng ◽  
Cynthia C. Wang ◽  
Xin Ning
Keyword(s):  
Urban Rail Transit ◽  
Rail Transit ◽  
Land Value ◽  
Wuhan City ◽  
Value Capture ◽  
Financing Mode ◽  
Urban Rail

scholarly journals Developing Mobile Application for Land Value Capture Scheme to Finance Urban Rail Transit Projects

2021 ◽  
Vol 12 (7) ◽  
pp. 1448
Author(s):  
Mohammed Ali Berawi ◽  
Nyoman Suwartha ◽  
Agatha Vania Salim ◽  
Gunawan Saroji ◽  
Mustika Sari
Keyword(s):  
Mobile Application ◽  
Urban Rail Transit ◽  
Rail Transit ◽  
Land Value ◽  
Value Capture ◽  
Urban Rail

scholarly journals Impact of Urban Rail Transit Network on Residential and Commercial Land Values in China: A Complex Network Perspective

Complexity ◽  
2021 ◽  
Vol 2021 ◽  
pp. 1-11
Author(s):  
Shiping Wen ◽  
Jiangang Shi ◽  
Wei Zhang
Keyword(s):  
Complex Network ◽  
Urban Rail Transit ◽  
Clustering Coefficient ◽  
Rail Transit ◽  
Value Capture ◽  
Effective Measure ◽  
Transit Network ◽  
Land Prices ◽  
Urban Rail ◽  
Urban Rail Transit Network

Urban rail transit can improve a city’s accessibility. However, high construction and operation costs restrict the development of urban rail transit. Value capture recoups the additional value that the investments of urban rail transit confer to local land and is considered to be an effective measure to alleviate this financial problem. Understanding the land value uplift effects of urban rail transit is essential for understanding value capture. This study applied a Space-P model of urban rail transit network based on complex network theory and demonstrated the influence of urban rail transit network characteristics on residential and commercial land prices. The model was tested with eight metropolises in China, using the 2003 to 2022 timeframe as the context. The results showed a significant positive correlation between the number of nodes and the land prices, the average clustering coefficient was highly positively correlated with the land prices, and there was a significant negative correlation between the average path length and the land prices. This study provides theoretical support for value capture, is beneficial for urban rail transit planning, and supports improvements in the development quality of urban rail transit networks.

Effect of Urban Rail Transit Lines Linking the New Towns on Land Value Uplift in the Megacity Based on Difference-in-Difference Model

2020 ◽  
Vol 2674 (11) ◽  
pp. 317-328
Author(s):  
Junfang Li ◽  
Zhigang Liu ◽  
Jie Yu ◽  
Hua Hu
Keyword(s):  
Urban Rail Transit ◽  
Rail Transit ◽  
Land Value ◽  
Difference In Difference ◽  
Difference Model ◽  
Time Saving ◽  
New Towns ◽  
Business District ◽  
The Impact ◽  
Over Time

There already exist some rail transit lines linking the new towns to the center business district (LTC) in megacities. However, few lines between the new towns (LTT) exist. The paper examines whether, when, and how LTT cause land value uplift with LTC as the benchmark, which in turn can be used for feasibility analysis for value capture financing for the implementation of LTT. Evaluate the value in catchment and control area over time to confirm uplift. Difference-in-difference model (DID) is used to analyze when and how LTT raise the uplift. In the case study of Tokyo, DID estimators show the following homogenous results: firstly, the implicit land value (ILV) of LTT is all lower than LTC except that related to time saving to the center business district (CBD) in the announcement period, implying LTT are expected significantly to link to CBD then; secondly, ILV goes down over time sharply for LTT than LTC, implying the impact of LTT on the uplift is less sustainable than that of LTC; thirdly, sustainability of ILV as to time saving to the capital of the new town is more than that to CBD for LTT; lastly, ILV in the announcement period presents significantly distance-decay performance for both lines. Heterogeneity among the stations is detected for both lines; for LTT, the impact of proximity to the huge interchange station on land value uplift is slight. These results provide an evidence base for policy-makers to quantify the potential to raise financial funding for LTT.

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