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

Shiping Wen,Wei Zhang,Jiangang Shi,Ali Minai

doi:10.1155/2021/8849066

Abstract

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.

Highlights

Urban rail transit increases the supply of public transportation and has significant external effects [1]. erefore, many countries and regions have been willing to develop urban rail transit
To fill these research gaps, this study introduced complex network analysis to establish an urban rail transit network Space-P model and applied mathematical modeling and Complexity empirical research methods to demonstrate the impact of urban rail transit network characteristics on residential and commercial land prices at the macro and dynamic level. e objective of the study was to analyze the influence of the network global characteristics of the urban rail transit network Space-P model on the prices of residential and commercial land and to evaluate the land value uplift effects of an urban rail transit network
The urban rail transit systems studied in this paper include metro, light rail, monorail, maglev, automated people mover systems (APM), and inner-city rapid rail

Summary

Introduction

Urban rail transit increases the supply of public transportation and has significant external effects [1]. erefore, many countries and regions have been willing to develop urban rail transit. Urban rail transit increases the supply of public transportation and has significant external effects [1]. The construction cost of rail transit increases each year. E operating costs are high, and most urban rail transit project investments face significant deficits. As a local public good, the construction funds for urban rail transit mostly depend on financial expenditures by the local government [2]. To alleviate the capital problem and find an alternative option of funding urban rail transit, scholars have proposed the method of value capture and have conducted many studies about the relationship between urban rail transit and land value uplift. Some studies show that urban rail transit can promote land value uplift [5], while others support the opposite view [6, 7]

Methods

Results

Discussion

Conclusion