Housing Impact of Long-Distance High Speed Rail

Chapter 4 investigates the impact of long-distance HSR on housing prices in China. The analysis focuses on the 1,016 housing communities in 22 cities along the Beijing-Shanghai HSR line. The tradition of the hedonic pricing model was adopted using three estimation procedures: a robust ordinary-least squares regression, a Box-Cox transformation technique and a spatial econometric model. After controlling for the physical characteristics of housing property, the neighboring environment and locational accessibility, the study finds that the establishment of the Beijing-Shanghai HSR line has a considerable regional impact (including local effects and spillover effects) on housing values in medium and small cities but a negligible impact in larger capital cities.