Urban Mass Transit and Housing Price in China: An Exploratory Analysis of Guangzhou, Wuhan and Chengdu

16 Pages Posted: 28 Jul 2015

See all articles by Zhenhua Chen

Zhenhua Chen

The Ohio State University-City and Regional Planning

Kingsley E. Haynes

Schar School of Policy and Government, George Mason University

Date Written: April 1, 2015

Abstract

This study investigates the spatial impact of urban transit systems on housing prices with a focus on three Chinese metropolitan areas -- Guangzhou, Wuhan and Chengdu. Based on a dataset of 7,348 housing properties located in 14 cities, a spatial hedonic modeling approach is adopted to assess the accessibility impact of three different types of urban mass transit systems -- bus, metro and intercity passenger rail -- on housing values. After controlling for physical characteristics of housing property, characteristics of the neighboring environment and locational accessibility, our study finds that the spatial impact of urban transit systems vary substantially across different metro areas as well as by different types of service. While a developed metro system in cities such as Guangzhou, tends to have a positive impact on housing prices, a negative impact is also confirmed in cities like Chengdu, where major metro networks are still under development. Conversely, the impact of the newly deployed intercity passenger rail services on housing prices are confirmed to be significant, although varied across different regions.

Keywords: Urban mass transit, housing price, spatial hedonic model, China

JEL Classification: C23, R11, R42, R53

Suggested Citation

Chen, Zhenhua and Haynes, Kingsley E., Urban Mass Transit and Housing Price in China: An Exploratory Analysis of Guangzhou, Wuhan and Chengdu (April 1, 2015). Available at SSRN: https://ssrn.com/abstract=2636379 or http://dx.doi.org/10.2139/ssrn.2636379

Zhenhua Chen (Contact Author)

The Ohio State University-City and Regional Planning ( email )

275 West Woodruff Avenue
Columbus, OH 43210-1138
United States

HOME PAGE: http://u.osu.edu/chen.7172/

Kingsley E. Haynes

Schar School of Policy and Government, George Mason University ( email )

Founders Hall
3351 Fairfax Dr.
Arlington, VA 22201
United States

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