期刊
PAPERS IN REGIONAL SCIENCE
卷 96, 期 3, 页码 495-+出版社
WILEY
DOI: 10.1111/pirs.12203
关键词
Capitalization effect; subway; housing price
This paper analyses the relationship between community attributes and the subway home-price capitalization effect, asking whether the magnitude of the subway proximity premium is affected by neighbourhood economic status and location. Using longitudinal data from Beijing, the paper estimates that decreasing a community's distance to a subway station by 10 per cent increases the housing price per square metre by 0.2 per cent similar to 0.9 per cent. The paper also shows that, subway capitalization effect is around 0.1 per cent similar to 0.2 per cent lower for communities that have higher quality and charge a 1 Yuan higher property management fee. Moreover, the analysis also reveals that the subway capitalization will decrease by around 0.08 per cent as a community's distance to the central business district (CBD) increases by 1km.
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