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Estimating the Effects of Light Rail Transit (LRT) System on Residential Property Values Using Geographically Weighted Regression (GWR)
[Zeitschriftenartikel]
Abstract This study assesses the effect of light rail transit system (LRT) on residential property values in Greater Kuala Lumpur, Malaysia, where traffic congestion has been a major issue since the mid 1990s. A relatively new technique namely Geographically Weighted Regression (GWR) is employed to estimate ... mehr
This study assesses the effect of light rail transit system (LRT) on residential property values in Greater Kuala Lumpur, Malaysia, where traffic congestion has been a major issue since the mid 1990s. A relatively new technique namely Geographically Weighted Regression (GWR) is employed to estimate the increased value of land in the form of residential property values as a result of improved accessibility owing to the construction of the LRT systems. Using the Kelana Jaya LRT Line, located in Greater Kuala Lumpur, Malaysia as a case study, this paper reveals that the improvement of accessibility to employment and other amenities provided by the LRT system added premiums on residential property values but with spatial variation over geographical area indicates that the existence of the LRT systems may have a positive effect on residential property values in some areas but negative in others. The use of the GWR in this study is identified as a better approach to investigate the effect of the LRT system on residential property values since it has the capability to produce meaningful results by revealing spatially varying relationship.... weniger
Thesaurusschlagwörter
Malaysia; Immobilien; Markt; Wohnwert; Verkehr; Infrastruktur; regionale Faktoren; Preispolitik; regionaler Unterschied; Wohnumgebung; Analyse; Wohnungsmarkt; Ökonometrie; Gewichtung; Modellentwicklung; Messinstrument; Öffentlicher Personennahverkehr
Klassifikation
Raumplanung und Regionalforschung
Freie Schlagwörter
Light rail transit; LRT; Hedonic pricing; Geographically weighted regression; Land value capture; Greater Kuala Lumpur
Sprache Dokument
Englisch
Publikationsjahr
2015
Seitenangabe
S. 1-25
Zeitschriftentitel
Applied Spatial Analysis and Policy, 8 (2015) 1
DOI
https://doi.org/10.1007/s12061-014-9117-z
ISSN
1874-4621
Status
Postprint; begutachtet (peer reviewed)
Lizenz
Deposit Licence - Keine Weiterverbreitung, keine Bearbeitung