170 / 2016-06-01 10:49:05

The Spatial Effect of Urban Rail Transit on House Rent Based on Spatial Econometric Models

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The spatial effect of urban rail transit on house rent is studied in this thesis. Econometric models of two categories are estimated, one is hedonic price model based on OLS and the other is spatial econometric models, such as SLM, SEM and GWR model, which are increasingly used to capture the effect of the unobserved spatial factors on house valuation. The results of this research indicate that spatial econometric models outperforms OLS model and the proximity to urban rail transit has a positive impact on house rent. Moreover, the house rent along Wuhan Metro Line 2 shows a stronger spatial dependence than spatial heterogeneity.