Impacts Of Chongqing Rail Transit Line 3 On Surrounding Residential Land Prices

With the progress of urbanization, the population pour into the city, the increase of the vehicle ownership, traffic congestion is more and more serious in Chinese cities. In order to solve this problem, many cities in China has planned or are planning to build rail transit systems. In terms of relative highway, rail transit has three advantages which are faster, more timely and more energy saving. At the same time of relieving traffic congestion, rail transit construction also can improve the accessibility and promote the development of the station surrounding areas, thus affecting the land price surrounding the stations. Research on the impact of rail transit on its surrounding residential land prices is of important significance for the participants of rail transport and urban construction. This thesis takes the Chongqing rail transit line 3 as the object, and explores the impacts of rail transit on surrounding residential land prices.First of all, the thesis reviews the main research status of the impact of rail transit on real estate prices at home and abroad, combs the methods and results, induces the theory of the land price. This thesis mainly discusses the spatial stability of the impact of rail transport and other factors on land price, then chose the geographical weighted regression model which is suitable for explaining this instability as the research method.Second, the independent variables of the regression model are determined, and the samples are selected. The independent variables are quantified from the influence factors. Because the study is based on a specific time and specific macro conditions, so it excludes the general factors which are affecting the land price. The study only considers the location and individual factors. When elected to the land transaction case, in order to avoid partial area of the sample is too sparse, so it expands the time range of the selected. On the other hand, trading cases should avoid the impact of other rail lines.Third, the regression analysis of the data was carried out by using the geographically weighted regression model. The result of the analysis is related to F-test, which means that the result can explain the relationship between the variables. At the same time, according to the analysis of the variance, the spatial weight function and the bandwidth function of the geographically weighted regression model are determined.In the end, the thesis uses the software to mapping the influence coefficient of rail transit stations and other factors on land price. According to the analysis of the map, the impacts of rail transit on surrounding residential land prices is related to the level of the whole land price in the region. If the overall land prices in the region is lower, the land price will increase with the decrease of the distance from the rail transit station. If the overall land prices in the region is higher, the land price will decrease with the decrease of the distance from the rail transit station. After analysis the influence of other factors on residential land price, it is considered that people have higher demand for environment in higher land price area, and those people are more inclined to take cars instead of rail transit. Based on the analysis above, the thesis concludes that the premium of rail transit on residential land price have timeliness and upper limit. Then some suggestions are put forward in the thesis for the participants in rail transport and urban construction.