Study On The Influence Of Urban Transportation Infrastructure On Adjacent Property Value

Except improving the road structure and increasing transportation efficiency, urban transportation infrastructure can bring a great amount of economic benefit, and its effect on property value is one part of it. With the rapid development of the urbanlization in China, the benefit of real estate value increment brought by the transportation infrastructure, which was not emphasized in the past, attracts more and more attention now.The thesis first discuses the influences of urban transportation infrastructure on land value, land use function and intensity, and urban economic development, and analyses the mechanism on how transportation infrastructure boosts the value of adjacent properties. Secondly, traditional Hedonic Price Model and Analysis of Variance Model are modified, based on which special analysis models for studying the effect of transportation infrastructure on the price of different properties are developed. Thirdly, the thesis takes Nan Ni Wan Viaduct as an example to further explain the employment method in empirical analysis. The calculation outcome shows that the influence of the viaduct on housing price in nearby area is tremendously large. In addition, the deficiency within current mechanism for utilizing the economic benefit of transportation infrastructure is pointed out, and improvement suggestions are proposed by introducing the incoming property tax system. Finally, a combined planning of urban transportation infrastructure construction and land use is suggested, and four key operation points are studied.The thesis employs both quantitative analysis and qualitative analysis to systematically investigate how and to which degree urban transportation infrastructure affects the property value, and proposes strategies to realize the potential economic benefit. It is conducive to improving current post-evaluation system for urban transportation infrastructure and providing design guidelines to make full use of the benefits of property value increment, which has an important role of increasing government income and relieve the pressure of construction financing.