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Non-linear Relationships Between Bus Rapid Transit and Property Prices

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Property Price Impacts of Environment-Friendly Transport Accessibility in Chinese Cities

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Abstract

The adoption of bus rapid transit (BRT) systems has gained worldwide popularity over the past several decades. China is no exception as it has long been aiming at promoting public transport and holds the top rank globally in terms of the BRT system expansion rate. Prior studies have provided extensive evidence that BRT has substantial effects on property prices with traditional econometric techniques, such as hedonic pricing models. However, few of those investigations have discussed the non-linear relationship between BRT and property prices. Using the Xiamen data, this study employs a machine learning technique, namely the gradient boosting decision tree (GBDT), to scrutinize the non-linear relationship between BRT and property prices. This study documents a positive association between accessibility to BRT stations and property prices and a negative association between proximity to the BRT corridor and property prices. Moreover, it suggests a non-linear relationship between BRT and property prices and indicates that GBDT has more substantial predictive power than hedonic pricing models.

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Authors and Affiliations

  1. Department of Urban and Rural Planning, School of Architecture, Southwest Jiaotong University, Chengdu, China

    Prof. Linchuan Yang

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  1. Prof. Linchuan Yang
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Correspondence to Linchuan Yang .

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Yang, L. (2021). Non-linear Relationships Between Bus Rapid Transit and Property Prices. In: Property Price Impacts of Environment-Friendly Transport Accessibility in Chinese Cities. Springer, Singapore. https://doi.org/10.1007/978-981-16-8833-1_6

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  • DOI: https://doi.org/10.1007/978-981-16-8833-1_6

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  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-16-8832-4

  • Online ISBN: 978-981-16-8833-1

  • eBook Packages: Social SciencesSocial Sciences (R0)

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