15(5), 699–716 (2000)Īlonso, W.: Location and Land Use: Toward a General Theory of Land Rent. It has implications for further research and for the planning policies of metro-dependent cities.Īdair, A., McGreal, S., Smyth, A., Cooper, J., Ryley, T.: House prices and accessibility: the testing of relationships within the Belfast urban area. This study sheds light on the importance of metro services on housing prices. Housing prices for neighborhoods having access to more than one metro line within 800 m-buffer area are higher than those without access to metro lines, controlling for number of accessible jobs within 30 min. Shorter metro headways are positively related to housing prices near stations. The results show that areas with more employment opportunities via public transit have higher housing prices than other areas. Three transport service indicators associated with metro transfers and waiting times were explored: (1) metro headway, (2) access to different metro lines and (3) accessibility to employment opportunities. A spatial error model was applied to 2835 samples of online property sales data obtained in January 2016. This paper provides evidence for this relationship, focusing particularly on the effects of metro services, and uses the large city of Beijing, China, as a case study. Assessment of the impact of metro systems on housing prices is important for financing transport infrastructure via value capture.
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