Accessibility, urban form, and property value: A study of Pudong, Shanghai

Abstract

The effects of metro system development and urban form on housing prices are highly depend on the spatial temporal conditions of the urban neighborhoods. However, scholars have not yet comprehensively examined these interactions at a neighborhood-scale. This study assesses metro access, urban form, and property value at both district- and neighborhood-levels. The study area is Pudong, Shanghai where metro system development has coincided with rapid urban growth. Two hundred and seventy-nine neighborhoods from 13 districts of Shanghai are randomly selected for the district-level investigation and 31 neighborhoods from Pudong are selected for neighborhood-level investigation. The analysis of variance shows that metro access is more positively correlated to property price in Pudong than other districts. The Pearson correlation, principle component, and ordinary least square regression analyses show that while accessibility attributes have positive influence on housing prices, neighborhood characteristics also exhibit pronounced impact on property price change over time. The present study extends our knowledge on how metro system development interacts with land use efficiency and discusses planning policies that correspond to different stages of development.