Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/80646
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dc.contributorDepartment of Land Surveying and Geo-Informatics-
dc.contributorDepartment of Building and Real Estate-
dc.creatorHiggins, CD-
dc.date.accessioned2019-04-23T08:16:42Z-
dc.date.available2019-04-23T08:16:42Z-
dc.identifier.issn0169-2046en_US
dc.identifier.urihttp://hdl.handle.net/10397/80646-
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.rights© 2018 The Author. Published by Elsevier B.V. This is an open access article under the CC BY license (http://creativecommons.org/licenses/BY/4.0/).en_US
dc.rightsThe following publication Higgins, C. D. (2019). A 4D spatio-temporal approach to modelling land value uplift from rapid transit in high density and topographically-rich cities. Landscape and Urban Planning, 185, 68-82 is available at https://dx.doi.org/10.1016/j.landurbplan.2018.12.011en_US
dc.subjectDifference-in-differencesen_US
dc.subjectHedonic price modelen_US
dc.subjectLand value captureen_US
dc.subjectPedestrian accessibilityen_US
dc.subjectRapid transiten_US
dc.subjectSpatio-temporal econometricsen_US
dc.titleA 4D spatio-temporal approach to modelling land value uplift from rapid transit in high density and topographically-rich citiesen_US
dc.typeJournal/Magazine Articleen_US
dc.identifier.spage68en_US
dc.identifier.epage82en_US
dc.identifier.volume185en_US
dc.identifier.doi10.1016/j.landurbplan.2018.12.011en_US
dcterms.abstractThe land value uplift effects of rapid transit infrastructure provide evidence of willingness to pay for more sustainable forms of development and suggest a rationale for land value capture. The present research utilizes spatio-temporal methods in a quasi-experimental research design to examine changes in property values associated with pedestrian accessibility to the West Island Line heavy rail extension in Hong Kong. Several innovations in methods and techniques are proposed that respond to the econometric challenges involved in conducting research in high density, topographically-rich cities. Of these, the paper incorporates landscape topography throughout its estimation process, including the calculation of slope-aware measures of walkable accessibility on a 3D pedestrian network and proposes a new Spherical Distance Weights method for capturing horizontal and vertical spatial association among observations in 3D space. Finally, these weights are combined with measures of temporal distance for a 4D approach that accounts for relations among observations in space and time. Spatio-temporal difference-in-differences results reveal a significant change in the value of pedestrian access to the new transit stations of between 26% and 41% after opening. Interestingly, uplift occurred across both the new stations as well as for properties around the previous terminus, highlighting the network effects associated with changes in accessibility. Beyond demonstrating that rail transit is valued, these findings confirm the assumptions behind the city's Rail + Property value capture approach, suggesting it remains a viable model for sustainable finance and urbanism in other high-density and transit-oriented cities.-
dcterms.accessRightsopen accessen_US
dcterms.bibliographicCitationLandscape and urban planning, 2019, v. 185, p. 68-82-
dcterms.isPartOfLandscape and urban planning-
dcterms.issued2019-
dc.identifier.isiWOS:000463125400007-
dc.identifier.scopus2-s2.0-85060492144-
dc.description.validate201904 bcmaen_US
dc.description.oaVersion of Recorden_US
dc.identifier.FolderNumberOA_IR/PIRAen_US
dc.description.pubStatusPublisheden_US
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