Acta Geographica Sinica ›› 2011, Vol. 66 ›› Issue (8): 1055-1062.doi: 10.11821/xb201108005

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Influence of Rail Transit on Nearby Commodity Housing Prices: A Case Study of Beijing Subway Line Five

FENG Changchun, LIWeixuan, ZHAO Fanfan   

  1. College of Urban and Environmental Science, Beijing 100871, China
  • Received:2010-07-15 Revised:2011-03-13 Online:2011-08-20 Published:2011-08-20
  • Supported by:

    President Fund in Peking University; China Educational Foundation for Undergraduate Students of Sciences, No.J0630531

Abstract: The paper, taking the Subway Line Five in Beijing as an example, studies the effect of rail transit on adjacent commodity housing prices. Firstly, based on results of previous studies and field study of Beijing Subway Line Five, our study areas are confined to a 2-km radius from subway line. Moreover, through analyzing commodity housing prices and their influences, a system of impact factors that could most possibly make a difference on commodity housing prices is set up. Those ten influencing factors include the shortest distance from housing project to the nearest subway station, distance from housing project to city-level commercial center, the number of bus lines within 1 km of the project, floor area ratio of the project, whether there is a key primary and secondary schools within 1 km of the project, whether there is a regular primary and secondary schools, whether there is a hospital, whether there is a park and its decoration condition as well as property type. Secondly, through conducting mean difference significant test on the dummy variables, we can exclude three of them which prove to have no significant impact on housing prices, including the number of key primary and secondary schools, ordinary schools, and parks within 1 km of housing projects. Thereafter, a multiple regression model is built to make correlation analysis of commodity housing price and the other seven influencing factors. Finally, after dealing with a total of 193 sample data, the result of the regression model shows that rail transit has the greatest effect on adjacent commodity housing price. Based on this result, we propose that real estate development along rail transit should fully consider the great effect that rail transit has on commodity housing price.

Key words: commodity housing price, rail transit, Subway Line Five, Beijing