Hedonic pricing analysis finds varying impacts of rail transit on property values in Tianjin, suggesting important insights for urban planning.
The hedonic price model and the quantile regression method are employed to estimate the capitalisation influence of rail transit on residential property in relation to the proximity of stations and different phases. The value lift effect occurred after the formal planning was announced and increased gradually, with the highest premium found during the operation phase. A rail transit proximity premium is lowest in high-priced segments, and highest in low-priced segments where public transportation matters most for residents. The study contributes an enhanced understanding of the spatio-temporal variations in the proximity premium of rail transit in a developing country setting.
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Wang et al. (2025) studied this question.
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