Research on the Impact of URRT on Real Estate Value:the Case of Wuhan Metro Line2
|School||Central China Normal University|
|Course||Management of land resources|
|Keywords||Urban rail transport Real estate value Geographic WeightedRegression|
With the development of the urbanization process in China, the rise in population density, the traditional transport system has been completely unable to meet the travel needs of people in Western developed countries as early as the design and construction of the late urban rail transit system in the19th century, China started relativelylate.Played a very important role in urban rail transit to relieve traffic congestion and solve the people’s growing travel demand. The same time, the convenience of traffic or not also become an important factor for consumers to buy real estate. How to quantify the impact of the analysis of urban rail transit on property prices, rational planning of the city’s transportation network for the reasonable development of land prices reasonable adjustment of urban space layout of guiding significance. Analysis of the impact mechanism of urban rail transit system for the real estate value in the reading of the scholars of literature, theory, domestic scholars generally used is the hedonic price model of the linear regression estimation, but they are ignored urban rail transit for the space of the real estate prices affect the non-stationary.Wuhan Rail Transit Line2, for example, were constructed hedonic price model OLR and Geographically Weighted Regression Model of the GWR, the overall local effect to analyze the role of rail transit system along the real estate prices. And the following conclusions1. Housing prices is affected by many factors. According to the OLR hedonic price model namely the global model to estimate the results, the distance from the CBD, the orientation, which floor, Loudong total number of layers, renovation, commercial facilities set, science, education, and to track site distance bus lines of the nine variables housing prices of the main city of Wuhan has a significant impact.2. Urban rail transit system had a significant impact on real estate prices. Distance and bus lines from the CBD, the impact of these two variables for the real estate prices are very significant, followed by the variable is to rail transit stations also have a significant effect on housing prices, specifically for Wuhan Rail Transit Line Ⅱ to the distance of the rail transit stations is reduced by one kilometer residential average price rose731RMB/m2.3. The space of urban rail transit system on the impact of real estate prices of non-stationary. The distance of the sample to the rail transit site for the impact of real estate prices there is a certain space for non-stationary, for example, in the residential sample near the Jianghan Road, Minsheng Road, Nanjing Road and close to the Panlongcheng, Gold and Silver Lake near the sample compared to, the smaller the distance to the CBD closer the contrary, to the distance of the rail transit site characteristic variables for the residential real estate prices, a decrease of one kilometer per residential unit price rose by only about554RMB/m2; in the dragon City, Gold and Silver Lake near the sample affect the residential unit price increased by about1331RMB/m2.