Acta Geographica Sinica ›› 2009, Vol. 64 ›› Issue (2): 167-176.doi: 10.11821/xb200902004

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Temporal-spatial Impacts of the Shanghai South Railway Station on Housing Prices

SHI Yi-shao1, GUO Hui-ning2   

  1. 1. Department of Surveying and Geo-Informatics, Tongji University, Shanghai 200092, China;
    2. Department of Land Resources Management, Renmin University of China, Beijing 100872, China
  • Received:2008-03-26 Revised:2008-10-15 Online:2009-02-25 Published:2009-02-25
  • Supported by:

    National Natural Science Foundation of China, No.40371034


The impact of large transport infrastructure on real estate prices has become an interesting theme. But the impact of a large-scale comprehensive transportation system on real estate prices has seldom been studied, and the empirical study of integrating temporal effects with spatial effects is rare too. In the present study, exemplified by the Shanghai South Railway Station, a large-scale comprehensive transportation system, the authors analyze its temporal and spatial impacts on housing prices at different stages and in various directions by means of modified hedonic price models and multi-regression method based on the nine-year long housing transaction data. The results show: (1) the construction of the Shanghai South Railway Station has highly stimulated economic growth in this area, and also leads to the appreciation of residential property values; (2) effects on peripheral housing prices seldom occurrs before its construction; a little reaction on peripheral housing prices during its construction; after its opening, the housing prices obviously fall as the distance increases away from the Shanghai South Railway Station; and (3) the average impact range of the Shanghai South Railway Station on housing prices is within 1.85 km. However, its effects differentiate in different directions. Along the Humin Road, its impact range is within 2.2 km; around the Shanghai Arboretum, its impact range is within 1.45 km, and along the Middle Ring Line, its impact is not marked.

Key words: the Shanghai South Railway Station, housing price, hedonic price model, temporal effect analysis, spatial effect analysis