01516282

Component

https://doi.org/10.3141/2452-05

An effective transport system can increase access and raise land values; thus, governments should be able to capture part of this price premium for transit access. These revenues could be used to fund further investments in public transit or other projects. Reliable measures of the price premium for transit access can help guide governments in setting policies to capture value. Guangzhou, China, has an extensive metro rail system and the highest-capacity bus rapid transit line in China. This study examines the effects of these two public transport systems on the prices of apartments in the city by using a unique set of data collected from a mainstream Chinese real estate website. Ordinary least squares, spatial regression models, and quantile hedonic regression were used to estimate the price premium for transit access. The findings suggest that proximity to the metro and the bus rapid transit line has a substantial and statistically significant effect on apartment prices that varies by district and the amenities provided.

01556363

14-5661

English

pp 36–45

2014

Transportation Research Record: Journal of the Transportation Research Board

9780309295390

Print

Figures (2) ; Maps; References (19) ; Tables (4)

Apartment buildings; Bus rapid transit; Light rail transit; Property values; Real property; Regression analysis

Guangzhou (China)

Economics; Policy; Public Transportation; Society; I10: Economics and Administration

TRIS, TRB, ATRI

Jan 27 2014 3:59PM

• Accessibility for Low-Income Workers in New Orleans, Louisiana, After Hurricane Katrina
• Assessing Mediators in the Relationship Between Commute Time and Subjective Well-Being: Structural Equation Analysis
• Assessments of Health Impacts of Transportation Projects in an Urban Indian Context
• Commuting, Job Clusters, and Travel Burdens: Analysis of Spatially and Socioeconomically Disaggregated Longitudinal Employer–Household Dynamics Data
• Dispersion Modeling of Traffic-Related Air Pollutant Exposures and Health Effects Among Children with Asthma in Detroit, Michigan
• Evolving Connection of Transit, Agglomeration, and Growth of High-Technology Business Clusters
• Impact of Attitudes and Life Stage on Decline in Rates of Driver’s License Acquisition by Young People in Melbourne, Australia
• Impact of Highway Investment on the Economy and Employment Across U.S. Industrial Sectors: Simultaneous Equations Analysis at the Metropolitan Level
• Rural Communities and Transportation Equity in California’s San Joaquin Valley
• Travel Behavior of the Poor After Welfare Reform
• Use of Health Impact Assessment for Transportation Planning: Importance of Transportation Agency Involvement in the Process
• Willingness-to-Pay Method to Estimate Effect of Accessibility on Property Prices
• Workplace Neighborhoods, Walking, Physical Activity, Weight Status, and Perceived Health: Assessing the Built Environment