Study on the Influence of Metro on the Housing Price Around the Line - A Case Study of Luoyang Metro Line 2

Abstract

This paper takes Luoyang Metro Line 2 as an example to study the impact of the metro line on the surrounding house prices. Combining with the hedonic price model, the paper uses the linear model and the semi-logarithmic model to analyze the impact of the metro line on the surrounding house price. The results show that the surrounding house price of the metro is affected by many characteristics. The value-added benefit of the subway is the most obvious in the range of 2000 meters around the subway station, and the subway station is beneficial to the value-added of the surrounding land. At the same time, neighborhood characteristics, other location characteristics and architectural features also have a certain impact on housing prices. Finally, combined with these effects, the government and real estate developers put forward some suggestions to promote the better implementation of urban planning around the subway.