Download or read book The Impact of Expected Improvement in Public Transportation on the Housing Price Gradient written by Lai-No Lina Choy and published by Open Dissertation Press. This book was released on 2017-01-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "The Impact of Expected Improvement in Public Transportation on the Housing Price Gradient: a Study of the Ma OnShan Rail in Hong Kong" by Lai-no, Lina, Choy, 蔡麗娜, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: ABSTRACT The improvement of public transportation system in the sub-urban areas will result in the reduction of transportation cost and traveling time to the residents. People's expectations to the improvement of transportation will lead to a decline in the residential price gradient between urban and sub-urban areas even the project is still under construction. There have been very few studies investigating the effect of people's expectation to the improvement of public transportation on the property price gradient. This paper attempts to find out the impact of the expected improvement of public transportation on the residential price gradient through a case study of Ma On Shan Rail in Hong Kong. Ma On Shan Rail is a mass transit railway system specially catered for the 400,000 population in Ma On Shan. It is expected to be commenced at the end of 2004. People may expect there will be an improvement of transportation at Ma On Shan district. This study is to investigate the effect of the expected improvement of public transportation to the price gradient in two areas linked by the improved railway line. Hedonic Pricing Model was adopted to measure the effect of the expected improvement of public transport at Ma On Shan district. The heterogeneous characteristics of residential properties that affect the prices can be controlled by adopting this model. Selection of homogeneous samples can minimize the effects of other factors affecting the price. Two private residential properties near the two stations in which one of them is ii located remotely and will be linked by Ma On Shan Rail while the other is more close to CBD and will not be linked by Ma On Shan Rail were selected during a specified period for analysis. The latter one will be selected and act as a control for the purpose study. Since Ma On Shan Rail is still under construction during this study, the actual effect to the commencement of Ma On Shan Rail is out of our scope of study. Instead, three different periods, (i) before Ma On Shan Rail gazette, (ii) after Ma On Shan gazette and before the commencement of the construction works, (iii) after the commencement of construction works, were identified for the purpose of study. The results of the study indicate that the provision of Ma On Shan Rail tend to reduce the price gradients between Sha Tin and Ma On Shan area. The effect of the expected improvement of transportation tends to increase when the commencement date of Ma On Shan Rail is getting closer. It suggests that people's expectations to the improvement of transportation in Ma On Shan district will lead to a decline in the residential price gradient between urban and sub-urban areas even Ma On Shan Rail is still under construction. iii DOI: 10.5353/th_b3131940 Subjects: Housing - Prices - China - Hong Kong - Case studies Railroads - China - Hong Kong - Case studies Housing - Prices - Ma On Shan Railroads - Ma On Shan
Download or read book The Impact of Expected Improvement in Public Transportation on the Housing Price Gradient written by Lai-no Choy (Lina) and published by . This book was released on 2004 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effects of Expected Transport Improvements on Housing Prices written by Edward Chung Yim Yiu and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Improvements in transport were commonly found to have a positive effect on the price of housing. As the construction of infrastructure often lasts for years, it is plausible to assume that investors will take expected improvements into consideration when pricing and trading neighbourhood properties. However, there have been few investigations of such effects. This paper is an empirical study of whether premiums were paid for the expected benefits offered by a new tunnel before its completion. The results showed that there were positive price expectation effects well before the completion of the tunnel. The expectation effects allow the government to finance infrastructure projects by selling land in the affected districts in advance.
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Download or read book Detection and Estimation of Transportation Impact with Models of Suburban Residential Property Sales Prices written by Fucang Tang and published by . This book was released on 1975 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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