Housing Price Forecast of a District along a Rail Transit Line Based on a Residential Location and Transportation Model

摘要

This paper proposes an integrated residential location and transportation model to calculate the housing price. First, according to the population distribution, we determine the operation parameters of a newly planned rail transit line in a profit-maximization model (i.e., site location, headway and fare, etc.). Then, the generalized transportation cost is calculated for each site. An integrated residential location and transportation model is subsequently defined in Logit form with the variability of the average housing price and the generalized transport cost. Finally, the equilibrium average housing prices at each site are calculated based on the condition of housing supply and demand being in balance.