Research On The Impact Of Urban Rail Transit On The Value Of Real Estate Along The Line

As an important means of transport in modern society,Urban Rail Transit has the advantages of large traffic volume,low pollution rate,fast security,energy conservation compared with the traditional bus system,and it has been the main means of transportation to ease city traffic congestion and air pollution at present all over the world.At the same time,many scholars at home and abroad have found that Rail Transit can not only provide convenience for urban residents,but also promote the development and prosperity of the real estate,commercial and advertising industries along the region.While in our country,Urban Rail Transit is still invested by the government as a kind of public infrastructure,which has prominent problems such as excessive investment in project construction,serious loss of urban rail operation and difficulties in financial investment.Quantitative analysis of the impact of Urban Rail Transit on the real estate value along the line has a very important significance to promote the internalization of external benefits,open city rail transit financing mode innovation,reduce the financial burden of the government and to promote urban rail transit and real estate developers win-win cooperation.This paper starts from the theoretical analysis and summary of the literature review at home and abroad,taking Xi’an Metro Line 3 as an example,the influence mechanism of urban rail transit on the value of residential real estate along the line is studied and analyzed deeply.1)I have taken Xi’an Metro Line 3 as an example,the qualitative analysis of the impact of urban rail on real estate value is carried out based on the analysis of the current situation of the development of urban rail transit and real estate in Xi’an.The city rail transportation can improve the accessibility of the surrounding real estate projects,change the nature and development intensity of land along the way,and promote regional economic prosperity of the city,in order to stimulate the value rising of the real estate along the track.2)The influence radius of Xi’an Metro Line 3 on the value of housing along the route was calculated and analyzed by using the theory of equal reachability in February,2017.Based on the range of 2.5km,the characteristic price model was used to quantitatively analyzethe effect of subway line 3 on the average value of residential real estate and the effect with different distance from the site.And found that:,the radius of influence of Xi’an Metro Line 3crosses from 0.571 to 2.684 km,and the site which is more close to the city center,its radius of influence is relatively smaller,the curve of radius becomes approximately inverted "U" shaped.The effect of Line No.3 to the commodity housing price mean accounted for 10.62%;in addition,also found that line 3 had remarkable effect on the housing value which is in the area less than 1500 m along the site,and the average appreciation rate of circle 500 m and1000~1500m is about 9% and 8%.3)And based on the above research,this paper puts forward some suggestions on the future investment and financing of urban rail transit construction project in Xi’an.Such as joint development with real estate,the introduction of private capital for PPP project financing,as well as the establishment of rail transportation special fund and other investment and financing methods.Through the establishment of diversified investment and financing innovation mechanism for urban rail transit to help our city to alleviate the difficulties of urban rail transit Construction developmentand,and to promote the sustainable and healthy development of the urban rail transit construction projects.