TY - JOUR
T1 - Comparison of housing price elasticities resulting from different types of multimodal rail stations in kaohsiung, taiwan
AU - Chen, Yen Jong
AU - Hsu, Cheng Kai
N1 - Funding Information:
The authors thank to the funding from Taiwan Ministry of Technology (MoST) for project MOST 106-2410-H-006-090.
Funding Information:
The authors thank to the funding from Taiwan Ministry of Science and Technology (MoST) for project MOST 106-2410-H-006-090.
Publisher Copyright:
© 2020, Global Social Science Institute. All rights reserved.
PY - 2020/9/1
Y1 - 2020/9/1
N2 - Constructing multimodal stations is one of the considered ways to implement transit-oriented development (TOD), with the goal of synergizing land use and transportation to promote both greater transit accessibility and sustainability in urban areas. Improvements in such accessibility have led to an uplift in land value and housing prices. These price changes have been primarily studied by analyzing the effects of proximity to stations of a single line or multi-line mass rapid transit (MRT) system. However, little attention has been paid to investigating the effects of different types of multimodal MRTs and railway joined stations. The aim of this study is to investigate the different types of multimodal stations in Kaohsiung City, Taiwan. We use publicly available housing transaction data to construct hedonic price models. The results show that in the Kaohsiung MRT stations, an increase of 100 m in distance from the stations results in a TWD 258,0001 decrease in the average housing price. The housing price elasticity with respect to a 1% increase in distance from these stations is −0.067%.
AB - Constructing multimodal stations is one of the considered ways to implement transit-oriented development (TOD), with the goal of synergizing land use and transportation to promote both greater transit accessibility and sustainability in urban areas. Improvements in such accessibility have led to an uplift in land value and housing prices. These price changes have been primarily studied by analyzing the effects of proximity to stations of a single line or multi-line mass rapid transit (MRT) system. However, little attention has been paid to investigating the effects of different types of multimodal MRTs and railway joined stations. The aim of this study is to investigate the different types of multimodal stations in Kaohsiung City, Taiwan. We use publicly available housing transaction data to construct hedonic price models. The results show that in the Kaohsiung MRT stations, an increase of 100 m in distance from the stations results in a TWD 258,0001 decrease in the average housing price. The housing price elasticity with respect to a 1% increase in distance from these stations is −0.067%.
UR - http://www.scopus.com/inward/record.url?scp=85095720194&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85095720194&partnerID=8YFLogxK
M3 - Article
AN - SCOPUS:85095720194
SN - 2154-8919
VL - 23
SP - 1043
EP - 1058
JO - International Real Estate Review
JF - International Real Estate Review
IS - 3
ER -