The Impacts of the Urban Rail Transit on Property Values: Empirical Study in Line One of Chengdu Metro

摘要

Along with the accelerated process of urbanization, urban rail transit (URT) developed rapidly. The rapid growth of URT improves the regional traffic and has an impact on property values. In order to analyze the impact of URT on property values along the Line lof Chengdu Metro, the hedonic price model (HPM) is applied. The results show that URT has an effort on real estate values along the rail traffic within certain limits, and enhances the value of the property within the limits.