Extracting Area and Period of Influence of New Rail Service on Real Estate Market Using Fused-MCP
2019-09-15T14:09:39Z (GMT) by
It is often said that the announcement of new urban rail opening affects real estate prices since the market speculates on the future enhancement of accessibility. Many empirical studies confirm that the prices have increased even before the rail openings. However, few investigate when and where price increments begin. This study proposes an analysis approach to extract the area and period of influence of rail opening on real estate market using Fused-MCP on the new subway opening in Sendai, Japan. The results show that the prices have increased sharply after the opening, and the announcement effect has been minimal.