Housing and Real Estate I

[005] The Study of Housing Price Change Alongside the Elevated Railway in Taichung City

Yi-Hsuan Chu, Zheng Yu, Jen-Te Pai

Keywords:Railway Grade Separation, Housing prices, Difference-in-Differences, Difference-in-Difference-in-Differences

The purpose of railway grade separation contains improving the city’s traffic condition, urging the city’s development of the nearby area of the station and the railway, promoting urban suture, and building a more public transportation-friendly environment, which may result in the change of housing price. This study focuses on the housing price change between four years before and after the completion of the project “Railway Elevation in Taichung City,” and uses the difference-in-differences method, the difference-in-difference-in-differences method, the even study, and the conditional quantile regression to handle the annual housing price changes of the nearby areas of the elevated railway, analyzing the price changes and spatial effect of the railway elevation toward the nearby areas. The result shows that the housing price increased significantly alongside the nearby areas of the elevated railway and largely increased from the second year of the operation. Especially, low, low-mid, and high housing prices are largely impacted by the elevated railway. Front stations are also significantly and positively affected by the elevated railway. However, only mid, mid-high, and high housing prices increase.