| dc.description.abstract | The objective of this study is to verify the influence of Taipei Metro’s Luchou Line on local housing prices since its opening in November 3, 2010, and to examine the influence of transportation convenience on housing price. Three years and seven months’ morths of data was collected for the period between January of 2008 and July of 2001. We employed housing prices data of New Taipei City’s Zhonghe, Xizhi, and Luchou Districts. Three districts, during the research period, New Taipei City’s Zhonghe District was an area with metro transportation. However, New Taipei City’s Xizhi District did not provide metro transportation access during the data sampling period. A metro line opened in November, 2010 in New Taipei City’s Luchou District during the time that this study was conducted. The selected sample observations were existing residential houses (excluding new houses), which comprised of apartments and condominiums equipped with elevators.
By employing difference-in-difference, we empirically investigate the impact of metro access and other housing attributes on housing price. Our empirical results showed that an increase in local metro access results in a significant increase of housing price. Therefore, transportation convenience is positively correlated to housing price. Especially, the opening of the metro line in Luchou District has caused a housing price increase surpassing that of Xizhi District.
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