Publication Type
Journal Article
Version
publishedVersion
Publication Date
4-2015
Abstract
Bus Rapid Transit (BRT) has gained increasing popularity worldwide in the last few decades. However, few studies have investigated BRT’s impacts on property values in Chinese cities. This research, taking BRT route 1 (BRT1) and BRT route 3 (BRT3) in Beijing as examples, showed that proximity to BRT3 stops is weakly related to pre-owned home prices along the route, whereas BRT1 has induced a significant price premium. For BRT1, the impact is not linear. Specifically, pre-owned home prices for homes within 5–10 minutes’ walking distance to BRT stations is 5.35% higher than those located closer to or farther away. The difference between the two routes can be explained by resident income differences and BRT route alignments. For homes very close to the subway route, the impacts of BRT vanish.
Discipline
Asian Studies | Economics | Transportation
Research Areas
Integrative Research Areas
Publication
Journal of Public Transportation
Volume
18
Issue
2
First Page
34
Last Page
44
ISSN
1077-291X
Identifier
10.5038/2375-0901.18.2.3
Publisher
Elsevier
Citation
PANG, Hao and JIAO, Junfeng.
Impacts of Beijing bus rapid transit on pre-owned home values. (2015). Journal of Public Transportation. 18, (2), 34-44.
Available at: https://ink.library.smu.edu.sg/cis_research/514
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.5038%2F2375-0901.18.2.3
Included in
Asian Studies Commons, Economics Commons, Transportation Commons