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The Impact of the Accessibility to High-Speed Rail Stations on Residential Property Prices in Shanghai

In: Socioeconomic Impacts of High-Speed Rail Systems

Author

Listed:
  • Xinyi Wang

    (Tongji University)

  • Haixiao Pan

    (Tongji University)

  • Xiyin Deng

    (Tongji University)

  • Jingjie Cui

    (Tongji University)

Abstract

This study measured the level of transit and car accessibility using the cumulative opportunity method based on the distribution of employment positions. It then analyzed the spatial distribution characteristics of property prices in Shanghai, as well as the impact of accessibility to high-speed rail (HSR) stations on property prices. The downtown HSR station, Shanghai Railway Station, was reported to have the highest accessibility by both transit and car. It was also found that 64.7% of residents arrived at downtown Shanghai Railway Station faster than the suburban Hongqiao Railway Station, with an average saving of 24.9 min. The Hedonic Pricing Model (HPM) showed that the property price around the downtown HSR station was the most sensitive to the change in accessibility. Each 1% reduction in car and transit accessibility would result in a 0.208% and 0.206% reduction in property prices, respectively. The car accessibility to the suburban station, Hongqiao Railway Station, exhibited the least correlation with the property price, while transit accessibility to Hongqiao Railway Station had a higher correlation. These results showed that without adequate support from transit systems, the performance of suburban HSR stations would be substantially inhibited. It also highlighted the spatial heterogeneity of the impact rules in different areas of Shanghai, and emphasized the importance of connecting the suburban HSR stations to the urban transit systems to eliminate the weakness of the station location.

Suggested Citation

  • Xinyi Wang & Haixiao Pan & Xiyin Deng & Jingjie Cui, 2025. "The Impact of the Accessibility to High-Speed Rail Stations on Residential Property Prices in Shanghai," Springer Proceedings in Business and Economics, in: Francesca Pagliara (ed.), Socioeconomic Impacts of High-Speed Rail Systems, pages 149-169, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-82528-6_8
    DOI: 10.1007/978-3-031-82528-6_8
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