?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.title=Impacts+of+rail+transit+and+BRT+on+property+values%3A+evidence+from+Beijing&rft.creator=Ma%2C+L&rft.creator=Ye%2C+R&rft.creator=Titheridge%2C+H&rft.description=This+research+investigates+the+capitalization+effects+of+proximity+to+rail+transit+and+BRT+in+fast+growing+Beijing.+Few+related+studies+have+been+conducted+for+Chinese+cities+because+the+real+estate+market+was+not+established+until+recently.+Data+were+collected+on+apartment+homes+sold+in+the+Beijing+metropolitan+area+during+2011%2C+and+hedonic+price+modelling+was+employed+to+gauge+the+price+premiums+or+discounts+associated+with+proximity+to+transit+stations.+Overall%2C+we+identified+an+average+price+premium+of+around+5%25+for+properties+near+rail+transit+stations%2C+but+no+statistically+significant+effects+are+detected+at+BRT+station+areas.+Moreover%2C+we+found+that+station+proximity+effects+increase+both+in+magnitude+and+spatial+extent+at+stations+further+away+from+the+city+centre+and+at+stations+surrounded+by+low-+and+middle-income+neighbourhoods%3B+for+example%2C+the+price+premium+is+as+high+as+10%25+in+some+suburban+and+low-income+station+areas.+We+concluded+that+rail+transit+investment+is+an+effective+strategy+for+Beijing+to+reshape+its+urban+spatial+structure%2C+and+local+governments+in+China+may+consider+a+Rail+%2B+Property+Development+model+as+a+future+financing+solution+for+rail+transit+investment.+This+study+contributes+to+the+evidence+of+capitalization+effects+of+public+transit+from+a+booming+and+transitional+economy.&rft.subject=BRT%2C+property+values%2C+land+value%2C+rail%2C+transit%2C+China&rft.date=2013-07-15&rft.type=Proceedings+paper&rft.source=+++++In%3A+++(Proceedings)+13th+World+Conference+on+Transport+Research.++++(2013)+++++&rft.format=application%2Fpdf&rft.identifier=https%3A%2F%2Fdiscovery.ucl.ac.uk%2Fid%2Feprint%2F1414446%2F1%2F2201.pdf&rft.identifier=https%3A%2F%2Fdiscovery.ucl.ac.uk%2Fid%2Feprint%2F1414446%2F&rft.rights=open