Abstract
The impact of urban rail transit on housing prices has attracted the extensive attention of scholars, but few studies have explored the heterogeneous impact of rail transit on housing prices with different price levels. To solve this problem, we adopted the hedonic price model based on ordinary least squares regression as a supplementary method of quantile regression to study the heterogeneous impact of the Chengdu Metro system on low-, middle-, and high-priced housing. The result shows that the housing price rises first, then falls with the distance from the housing to the nearest subway station. Besides, the influence of transportation accessibility on low-, middle-, and high-priced housing decreases progressively. This research can provide a reference for the government’s transportation planning and decision-making.
Highlights
In order to solve the problems of traffic jam and air pollution, many countries begin to invest in the construction of urban rail transit
Based on the least squares regression and quantile regression, this paper analyzes the influence of urban rail transit on the heterogeneity of housing at different price levels
The result shows that the house price first rises and decreases following an increase in the distance to the subway station, which is the result of the positive and negative effects of the subway system on the house price
Summary
In order to solve the problems of traffic jam and air pollution, many countries begin to invest in the construction of urban rail transit. To achieve the sustainable development of rail transit construction, it is necessary to further explore the impact of rail transit accessibility on housing prices to provide evidence and reference for the acquisition of this part of the value. The main contributions of this study are as follows It discusses the nonlinear relationship between rail transit proximity and housing prices in depth. It estimates the hedonic price model by quantile regression to explore the heterogeneity of low-, medium-, and high-priced housing in the vicinity of the metro system. This study will use quantile regression to estimate the hedonic price model of urban housing to analyze the heterogeneity of urban rail transit on different price housing. The second section reviews the relevant literature; the third section describes the data and model; the fourth section gives the research results and discusses them; and, the conclusion is drawn
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