捷運環狀線營運對周邊住宅價格之影響

The Impact of Circular Line on the Residential Property Prices

林孫農(Sun-Nung Lin)

指導教授 ： 雷立芬

國立臺灣大學/生物資源暨農學院/農業經濟學研究所/碩士(2021年)

https://doi.org/10.6342/NTU202101955

摘要

大眾捷運系統普遍被認為可以有效舒緩大都會區交通運輸問題，過去多數研究皆支持捷運系統對於周邊住宅價格有正面的影響。由於環狀線為首條全線皆位於新北市境內之捷運線，搭乘的需求與其他捷運線較不同，因此本研究探討環狀線營運後對於周邊住宅價格的影響。然而，過去文獻在量化捷運系統所帶來之效益時多採用房屋買賣價格(房價)，較少採用房屋租賃價格(房租)，但是房價包含投資需求在內，房租則單純反應居住需求，本研究同時將兩者做為研究對象，以更精準檢視環狀線對周邊地區帶來的實質效益。
本研究利用差異中之差異法(Difference-in-Differences)分析房屋租賃平台的租屋資訊以及內政部實價登錄系統的房屋交易資訊，在控制空間與時間固定效果下，首先藉由迴歸分析發現住宅價格與環狀線距離間存在顯著的負相關。接著透過圖形化分析，發現環狀線營運後的影響範圍為500公尺，在營運前後，位於捷運影響範圍內之房屋價格並無顯著差異，但房租價格則顯著上升0.86%。除此之外，亦發現非整層住家物件類型(獨立套房、分租套房與雅房)受到環狀線營運的影響較大，而位於原捷運站周邊之民眾可能本身對於捷運的偏好便較高；通車後也因有轉乘服務而享受到較大的便利性，使原捷運周邊之住宅價格在環狀線營運後，呈現顯著上升。

關鍵字

房價 ； 房租 ； 捷運車站 ； 投資需求 ； 居住需求 ； 空間固定效果 ； 差異中之差異法

並列摘要

The Mass Rapid Transit (MRT) system is generally considered to effectively mitigate the problem of the metropolitan transportation. Most of previous studies shows a positive effect of the MRT system on the surrounding residential prices. The circular line as the first MRT line in Metro-Taipei MRT located in Xinbei city, may have different daily usage pattern from the other lines, which would provide us some new perspective on the MRT-residential prices effect. Most of the previous studies quantified the effect of the MRT system on the surrounding residential prices using the house prices. However, since the house prices include the demand for investment, when discussing the MRT-residential prices effect, the rental prices may be more suitable as our research object because it only includes the demand for resident. This study uses the Difference-in-Differences method, the rental informations from the housing rental platform, and the housing transaction informations from the real price registration system of the Ministry of the Interior and controls the spatial and temporal fixed-effects to investigate the impact of cicular line on the residential prices. This study firstly found a significantly negative correlation between residential prices and the distance to the circular line. Then, in order to investigate the causal relationship between the MRT and residential prices through, graphical analysis, which suggests that the range of influence by circular line is 500 meters, and that there is no significant difference in the houses prices, but the rental prices increase significantly by 0.86%. In addition, this study also shows that the types of non-whole-floor homes (suites, studio, and room to share) are greatly affected by the operation of the circular line. And the people near the original MRT station may prefer to stay close to the MRT station so that they could easily transfer between the new and existing lines, which leads to the residential prices around the original MRT increase significantly after the operation of the circular line.

並列關鍵字

House trading prices ； Rentals ； MRT stations ； Demand for investment ； Demand for resident ； Spatial Fixed effects ； DID

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