A Study of the Metro and Housing Value Interaction with Hedonic Price Model: Comparison of Ankara Batıkent and Koru Metro Stations-Reference-Cited by-同舟云学术

A Study of the Metro and Housing Value Interaction with Hedonic Price Model: Comparison of Ankara Batıkent and Koru Metro Stations

Published:2023-05-26 Issue: Volume: Page:161-177
ISSN:2548-0170
Container-title:Mimarlık Bilimleri ve Uygulamaları Dergisi (MBUD)
language:en
Short-container-title:MBUD

Author:

ERDOĞANARAS Fatma¹^ORCID,CİHANGİR ÇAMUR Kübra¹^ORCID,SATOĞLU Gülsel^ORCID

Affiliation:

1. GAZİ ÜNİVERSİTESİ

Abstract

The effects of urban rail systems on the real estate market were studied by analysing housing prices around Ankara Koru and Batıkent Metro Stations using the Hedonic Price Model. Quantitative data on residential sales were used. The findings reveal that sale values of residences are more elastic in term of metro effect in Batıkent, where middle-lower income groups live, compared to Koru Metro Station, where middle-upper income groups live. As the distance to the metro station decreases in Batıkent, prices increase. These results suggest that subways can help reduce polarization between income groups in cities while increasing accessibility. Providing access to neighbourhoods with both low and high-income individuals by metro increases housing prices more in favour of low-income groups and reduces income polarization between income groups.

Publisher

Mimarlik Bilimleri ve Uygulamalari Dergisi

Subject

General Medicine

Reference78 articles.

1. Abd Aziz, S., Kasim, R. & Masirin, M. I. H. M. (2019). Urban rail system as the basis of transit oriented development for sustainable development of Kuala Lumpur. URL: https://www.researchgate.net/publication/331832546_Urban_Rail_System_as_the_Basis_of_Transit_Orie nted_Development_for_Sustainable_Development_of_Kuala_Lumpur. Access Date: 25.12.2022

2. Açlar, A. & Çağdaş, V. (2008). Taşınmaz Gayrimenkul Değerlemesi. (2nd ed.). Ankara: TMMOB Harita ve Kadastro Mühendisleri Odası. ISBN: 978-9944-89-558- 3.

3. Agampatian, R. (2014). Using GIS to measure walkability: A case study in New York Cit’, (Unpublished master's thesis). School of Architecture and the Built Environment Royal Institute of Technology (KTH), Stockholm, Sweden.

4. Al-Mosaind, M. A., Dueker, K. J. & Strathman, J. G. (1993). Light Rail Transit Stations and property values: A Hedonic Price Approach. Transportation Research Record, 1400, 90-94.

5. Alas, B. (2017). Toplu konutlarda şerefiye düzeltmelerinin regresyon analizi ile incelenmesi. Kent Akademisi, 10(4), 396-412.