Abstract
This study investigates the ex post impact of the Beijing–Shanghai high speed rail (BJHSR) on housing values. A dataset including 1016 housing communities from the 22 cities along the BJHSR line are analyzed in the tradition of the hedonic pricing model using three estimation procedures: a robust ordinary-least square regression, a Box-Cox transformation technique and a spatial econometric model. After controlling for physical characteristics of housing property, neighboring environment and locational accessibility, the study finds that the establishment of the BJHSR service has a considerable regional impact (including local effects and spillover effects) on housing values in medium and small cities but a negligible impact in larger capital cities. This may be the results of the competitive nature of housing market in Chinese capital cities.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.