Next Article in Journal
A Study on Location-Based Priority of Soil and Groundwater Pollution Remediation
Next Article in Special Issue
Towards Equitable and Sustainable Urban Space: Introduction to Special Issue on “Urban Land and Sustainable Development”
Previous Article in Journal
The Impact of Urbanization on Energy Intensity in Saudi Arabia
Previous Article in Special Issue
How Does Land Development Promote China’s Urban Economic Growth? The Mediating Effect of Public Infrastructure
Article Menu

Export Article

Open AccessArticle
Sustainability 2016, 8(4), 380; doi:10.3390/su8040380

Do Urban Rail Transit Facilities Affect Housing Prices? Evidence from China

1
School of Economics and Management, Southeast University, Nanjing 211189, China
2
School of Economics and Management, Jiangsu Maritime Institute, Nanjing 211170, China
*
Author to whom correspondence should be addressed.
Academic Editor: Yehua Dennis Wei
Received: 28 January 2016 / Revised: 12 April 2016 / Accepted: 14 April 2016 / Published: 18 April 2016
(This article belongs to the Special Issue Urban Land and Sustainable Development)
View Full-Text   |   Download PDF [580 KB, uploaded 18 April 2016]   |  

Abstract

Urban rail transit facilities play a critical role in citizen’s social activities (e.g., residence, work and education). Using panel data on housing prices and urban rail transit facilities for 35 Chinese cities for 2002 to 2013, this study constructs a panel data model to evaluate the effect of rail transit facilities on housing prices quantitatively. A correlation test reveals significant correlations between housing prices and rail transit facilities. Empirical results demonstrate that rail transit facilities can markedly elevate real estate prices. Quantitatively, a 1% increase in rail transit mileage improves housing prices by 0.0233%. The results highlight the importance of other factors (e.g., per capita GDP, land price, investment in real estate and population density) in determining housing prices. We also assess the effects of expectations of new rail transit lines on housing prices, and the results show that expectation effects are insignificant. These findings encourage Chinese policy makers to take rail transit facilities into account in achieving sustainable development of real estate markets. View Full-Text
Keywords: rail transit; housing price; expectation; panel data rail transit; housing price; expectation; panel data
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

Scifeed alert for new publications

Never miss any articles matching your research from any publisher
  • Get alerts for new papers matching your research
  • Find out the new papers from selected authors
  • Updated daily for 49'000+ journals and 6000+ publishers
  • Define your Scifeed now

SciFeed Share & Cite This Article

MDPI and ACS Style

Zhang, X.; Liu, X.; Hang, J.; Yao, D.; Shi, G. Do Urban Rail Transit Facilities Affect Housing Prices? Evidence from China. Sustainability 2016, 8, 380.

Show more citation formats Show less citations formats

Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Related Articles

Article Metrics

Article Access Statistics

1

Comments

[Return to top]
Sustainability EISSN 2071-1050 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
Back to Top