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Inter-city transport infrastructure and intra-city housing markets: Estimating the redistribution effect of high-speed rail in Shenzhen, China by Zheng Chang; Mi Diao is a Social Sciences article available to read on EtoBox.

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This study analyses the changes in intra-city housing values in response to improved inter-city connection brought by high-speed rail (HSR), using the opening of the Hangzhou–Fuzhou–Shenzhen Passenger Dedicated Line (HFSL) in Shenzhen, China, as an example. The opening of the HFSL and its integration into the local metro network at Shenzhen North Station provide exogenous intra-city variations in access to the surrounding economic mass. With a difference-in-differences approach, we find that the HFSL showed a negative local effect as housing values declined by 11.5%–13.3% in the proximity of Shenzhen North Station relative to areas further from the station after the opening, possibly due to the negative externalities of the HFSL. The HFSL effect can spread along the metro network and lead to, on average, a 7% appreciation of housing values around metro stations (network effect). The direction and strength of the network effect vary by metro travel time between Shenzhen North Station and metro stations. Housing values decreased by 7.7% around metro stations within 5–15 minutes of metro travel time but increased by 63.6%, 16.6% and 29.2% around metro stations within 15–25, 25–35 and

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Author

Zheng Chang; Mi Diao

Publisher

SAGE Publications

Published

2021

Language

EN

Field

Social Sciences