Accessibility, urban form, and property value: A study of Pudong, Shanghai
The effects of metro system development and urban form on housing prices highly depend on the spatial temporal conditions of the urban neighborhoods. However, scholars have not yet comprehensively examined these interactions at a neighborhood-scale. This study assesses metro access, urban form, and property value at both district- and neighborhood-levels. The study area is in Pudong, Shanghai where metro system development coincides with rapid urban growth. 279 neighborhoods are systematically and randomly selected for the district-level investigation and 31 neighborhoods selected from Pudong for neighborhood-level investigation. The analysis of variance shows that metro access is more positively correlated to property price in Pudong. The Pearson correlation, principle component, and ordinary least square regression analyses find that while accessibility attributes have positive influence on housing prices, neighborhood characteristics also exhibit pronounced impact on property price change over time. This study extends our knowledge on how metro system development interacts with land use efficiency; discusses planning policies corresponding to development stage that produce more sustainable urban form.