Nonlinear Rail Accessibility and Road Spatial Pattern Effects on House Prices

Abstract

The continuous change process in the impact of differences in public transport accessibility has not been explained specifically in previous studies. This study reveals that the interaction between two continuous explanatory variables has a significant impact on the explained variable in the hedonic model. The study takes the accessibility variable in the house price model as an instance, dividing the accessibility variable of the residential community into two parts. The first part is the rail accessibility defined by the Euclidean distance from the residential community to the nearest rail transportation station. The second part is the road accessibility defined by two Space Syntax indicators, connectivity and carrying capacity, according to the spatial pattern of the road network. As demonstrated by the spatial interactive regression model, this research finds that road connectivity has a significant regulating effect on the impact of the distance to the closest rail station on house prices based on the empirical evidence from Fuzhou, China.