The research of the impact of urban transportation infrastructures on the real estate transaction prices-Take Taipei and Kaohsiung metropolitan public transportation as examples

• Main Authors: Tai-WeiHuang, 黃泰維
• Other Authors: Oliver F. Shyr
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/55943015010839435405

碩士 === 國立成功大學 === 都市計劃學系碩博士班 === 98 === In recent years, the traffic infrastructure is well-developed, whether the completion of the railway or highway has the significant impact to the nearby housing prices. In the example of KMRT, since the beginning of planning in the 1980s, many private real estate investments were revived. The real estate market is poured in a lot of capitals under investors’ expectation. Because of the sunk cost derived from housing products, the expected return of any real estate investment is mostly decided by the precision of previous analysis of market tendency. Transportation constructions would affect the housing development, such as environment quality, use pattern, market value and social structure. The housing price involves with the asset value, thus making it a long-term issue with most attentions. However, since the starting of operation, KMRT has only Red and Orange two lines, causing the land developments near stations to slow down. KMRT Corporation has been unable to use other incomes to compensate for the financial deficit, and therefore it faces financial crises. Comparatively, Metro Taipei relies on other revenues to grow stably. The fact that Kaohsiung’s average land prices were lower than Taipei’s should have been a strength through the development process; yet slow development has become a weakness. This research is applied with hedonic pricing model, followed by literature review, assuring the holistic research price, constructing hedonic housing variables and multiple regression analysis accompanied with correlation coefficient analysis and T testing. The main research topic lies within the change of housing price of the operation of current and anticipated the transportation infrastructure systems nearby houses, and further analyses the impact of each attribute to the housing prices. According to the study, the transaction prices of the High Speed Railway (HSR) station (Taipei Main Station), compared to that of Taipei metropolitan area, increase 97 thousand dollars totally every one kilometer closer to the HSR station, and in the anticipation of operation of rapid transit, the total prices increase 104 thousand dollars every one kilometers closer to the HSR station; In Kaohsiung metropolitan area, the total prices increase 47 thousand dollars every one kilometer closer to the HSR station. The transaction prices of the Metro Taipei stations, compared to that of Taipei metropolitan area, increase 170 thousand dollars every one kilometer closer to the stations. In anticipation of operation of rapid transit, the total prices increase 318 thousand dollars every one kilometer closer to the stations; in Kaohsiung metropolitan area, the total prices increase 108 thousand dollars every one kilometer closer to the rapid transit stations. The transaction prices of the airport, compared to that of Taipei metropolitan area, the total prices increase 69 thousand dollars every one kilometer closer to the airport, and in the anticipation of operation of rapid transit, the total prices increase 41 thousand dollars every one kilometer closer to the airport; yet in Kaohsiung Metropolitan area, the total prices decrease 44 thousand dollars every one kilometer closer to the airport. According to the aforementioned results, either in the current situation or in anticipation, rapid transit increases the accessibility of traffic along the lines, boosting the increase in nearby real estate prices and advancing the competitiveness of other transportation infrastructures and real estate near stations.