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The Effects of Expected TransportImprovements on Housing Prices and Price Spatial Distribution
Title:  The Effects of Expected TransportImprovements on Housing Prices and Price Spatial Distribution
Author: GU    JIE
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Organization:  浙江工商大学
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Conference presentation:  2009 CES Nanning Conference
Abstract:  Improvements in public transport were commonly found to have a positive effect on the price of housing. However, there have been few investigations of expected transport improvements. This paper is an empirical study of whether premiums were paid for the expected benefits offered by Hangzhou rail transit before its completion. Based on a large sample of housing transactions intertemporal pooling data, using extended hedonic pricing model, our empirical study showed there were positive price expectation effects in the suburb well before the completion of the line, but no significant effects in the town. House prices in the suburb were being affected by proximity to the stations after the plans for the line were well known. So this affected the price gradient of properties along the transportation line.
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