The impacts of mass transit on land development in China: The case of Beijing
Land development impacts of mass transit have long been studied in the developed economies. Yet relatively little is known by the outside world about the Chinese experience due to China's rather short history in the development of modern mass transit and land/property market. This paper attempts to fill the gap by presenting evidence from China, with a detailed case study of Beijing. Selecting three newly built suburban transit lines in Beijing, the study examined land development context and estimated hedonic housing price models to measure the proximity premiums associated with these three lines. The empirical evidence in Beijing, one of the first tier mass transit cities in China, shows that investments in mass transit can have significant and positive impacts on land development. Properties with transit proximity enjoy sizable price or value premiums. The study also confirms the international experience: transit impacts on land development are unlikely to occur automatically; they rely greatly on supportive regional and site conditions. Integrated planning and design for mass transit and land development are critical to expand and maximize the return of transit investments.
Volume (Year): 40 (2013)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/620614/description#description|
|Order Information:|| Postal: http://www.elsevier.com/wps/find/supportfaq.cws_home/regional|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- H. William Batt, 2001. "Value Capture as a Policy Tool in Transportation Economics: An Exploration in Public Finance in the Tradition of Henry George," American Journal of Economics and Sociology, Wiley Blackwell, vol. 60(1), pages 195-228, 01.
- Bae, Chang-Hee Christine & Jun, Myung-Jin & Park, Hyeon, 2003. "The impact of Seoul's subway Line 5 on residential property values," Transport Policy, Elsevier, vol. 10(2), pages 85-94, April.
- Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
- Sun Sheng Han, 2004. "Spatial structure of residential property-value distribution in Beijing and Jakarta," Environment and Planning A, Pion Ltd, London, vol. 36(7), pages 1259-1283, July.
- Basu, Sabyasachi & Thibodeau, Thomas G, 1998. "Analysis of Spatial Autocorrelation in House Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 17(1), pages 61-85, July.
- Zheng, Siqi & Kahn, Matthew E., 2008. "Land and residential property markets in a booming economy: New evidence from Beijing," Journal of Urban Economics, Elsevier, vol. 63(2), pages 743-757, March.
- Ghebreegziabiher Debrezion & Eric Pels & Piet Rietveld, 2007. "The Impact of Railway Stations on Residential and Commercial Property Value: A Meta-analysis," The Journal of Real Estate Finance and Economics, Springer, vol. 35(2), pages 161-180, August.
- Cervero, Robert & Day, Jennifer, 2008. "Suburbanization and transit-oriented development in China," Transport Policy, Elsevier, vol. 15(5), pages 315-323, September.
When requesting a correction, please mention this item's handle: RePEc:eee:retrec:v:40:y:2013:i:1:p:124-133. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.