Investigation On The Impact Of Xi'an Metro On Residential Price Along The Line

The development of the subway can effectively relieve the pressure of urban public transportation and improve the value of real estate along the line,and it is also necessary to build a high efficient service to the subway network for many years.In the process of forming the network,the performance of the subway to the real estate value along the line is different.The metrology basis for the premium recovery of the subway can be provided through quantitative analysis of the changes in the premium effect of the subway in the process of network operation.The foundation for the formulation of relevant policies can also be laid and the support for the rapid and sustainable development of the subway can be provided as well.First of all,the impact mechanism of the subway on the premium effect of the housing along the theoretical level is analyzed in this paper.Secondly,through the characteristic price model and the spatial econometric model,the sample data of Xi'an Metro Line 3 are compared and analyzed,and a more suitable measurement model is selected.At last,the change of the premium effect of Xi'an Metro Line 1 and line 2 on the two time points of the subway line 3 before and after the opening of the subway line3 is studied,and the change law of the premium effect of the existing subway in the network operation of the subway in Xi'an is summarized.The results of the empirical study on the premium effect of residential buildings along the metro network operation are below.(1)The Moran's I test was used to analyze the sample data of residential buildings along the No.1 and No.2 subway lines in Xi'an after Metro Line 3 was opened.The results show that the residential prices along the subway are not randomly distributed in the spatial distribution but spatial related.(2)The spatial econometric model is superior to the hedonic price model after comparing the model's R-squared,Loglikelihood,Akaikeinfo criterion and Schwarz criterion.LM tests were also conducted,and Lagrange Multiplier(error)Robust LM(error)and Robust LM(lag)passed the significance test while Lagrange Multiplier(lag)did not pass the significance test.Therefore the spatial error model is most suitable for the study of this problem.(3)The changes in the premium effect of Metro Lines 1 and 2 to residential houses along the line before and after the opening of Metro Line 3 were compared.It is found that the scope of the premium impact on residential houses along the route is gradually expanding and the intensity is gradually increasing in the process of networked operation of Xi'an Metro.