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《Journal of Beijing Normal University(Social Sciences)》 2009-04
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Commuting Cost and Space Distribution of Housing Price in Areas near Rail Transit:An Empirical Analysis of Residential Market near No.5 Line Subway in Beijing

DONG Fan1,DING Hong1,ZHAO An-ping2 (1.School of Management,BNU,Beijing 100875,China; 2.Department of Economics and Finance,City University of Hong Kong,China)  
The commuting cost exerts an important impact on housing prices. With the worsening of traffic and expanding of city scale in Beijing,customers and investors pay growing attention to the commuting cost when making decisions. This paper selects 895 housing data from 20 business districts near No.5 Line Subway in Beijing,registered between February and March in 2008. It applies the hedonic price model and defines the commuting cost as commuting distance by main transportation means and the convenience of searching for substitute transportation means. Empirical results show that housing prices decrease with the increase of commuting distance from CBD and from subway stations.
【CateGory Index】: F572;F293.3;F224
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【Citations】
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