武汉市轨道交通一号线对沿线住宅价格影响的分市场效应分析
Analyze of Submarket Effect of the Influence of Rail Transit on Nearby Housing Prices：The Case Study of No.1 Line in Wuhan

基于武汉市轨道交通一号线的实证分析，采用特征价格模型，〖JP2〗从空间和时间角度出发，研究了轨道交通对沿线不同区位住宅价格影响的分市场效应．结果表明：（1）轨道交通对沿线住宅价格影响的分市场效应显著，〖JP〗400 m以内，地铁一期周边住房价格增幅大于二期;400 m以外，地铁二期周边住房价格增幅大于一期．（2）轨道交通对周边住宅价格空间增值差异明显．地铁一期（中心城区）0~100 m范围地铁对于住宅价格的增值幅度最大，地铁二期（郊区）300~400 m范围地铁对于住宅价格的增值幅度最大．（3）轨道交通运营期对于周边住宅价格的影响远高于建设期，地铁一号线二期的建设与运营对一期（中心城区）周边住宅价格的影响远高于二期（郊区）沿线住宅．
： The submarket effect of rail transit on surrounding property value increment is analyzed quantitatively based on the investigation of Wuhan Metro Line one using hedonic price model. The results show as follows (1) The submarket effect of the rail transit influencing on nearby housing prices is significant. Within a radius of 400 meters, the growth rate of the surrounding housing prices in phase 1 of the metro project is more than that in phase 2, whereas the growth rate of property value in phase 2 is more than that in phase 1 beyond a radius of 400 meters. (2) The spatial effect of the influence of rail transit on nearby housing prices is different. The property value increment within a radius of 100 meters reaches the summit in phase 1 of Metro Line one (the central city), and the property value increment between a radius of 300 meters and 400 meters is the biggest in phase 2 (suburbs). (3)The surrounding housing prices are largely influenced by the rail transit operation rather than construction. The construction and operation of the Metro Line one in phase 2 bring more impacts on the surrounding housing prices in phase 1 (the central city) than those in phase 2 (suburbs)