How much impact does the subway have on housing prices?

The value of subway to suburban real estate and suburban real estate increased by 25% and 15% respectively.

After the opening of the subway, the value of real estate around Beijing, Shanghai and Guangzhou has been greatly improved. Specifically, the value of suburban real estate at a distance of 0-500m from the subway station has increased by 20%-25%, and the value of suburban real estate has increased by 10%- 15%.

Especially in the non-core area, the residence is highly dependent on the subway, and the residence will generally be concentrated in the market before and after the subway is opened to traffic. At the same time, the subway promotes the rapid increase of residential value in non-core areas. It is found that the closer to the subway station, the higher the house price; Within 3 km, for every 1 km of outward radiation, the housing price will drop by 6%-9%. Take the citizen core station of the transfer station as an example, the rent around it is nearly twice as fast as that of the one-way station.

There is a set of standards in the industry about what is a "subway house". Generally speaking, the houses that can be reached within 200 meters of the subway station are called "positive subway houses"; Walking within 500 meters is called "quasi-subway house"; Those within 1 km are called "near the subway house".

The closer to the subway, the more expensive the house is, and one of the reasons behind it is the convenient transportation of the subway. However, the subway is not a rare way to travel, and both private cars and subways are alternative means of transportation. If driving a private car to work in a city is as convenient as traveling and taking the subway, and the cost is similar, then there is no advantage for the house to be close to the subway, and the premise that the subway affects the house price is greatly reduced. The more inconvenient private transportation is (high cost of car purchase, crowded roads and high oil price), the lower the substitution of private transportation for subway, and the greater the influence of subway on house prices.