A Study of the Metro and Housing Value Interaction with Hedonic Price Model: Comparison of Ankara Batıkent and Koru Metro Stations

Year 2023, Volume: 8 Issue: 1 - JASA_2023, 8(1), 161 - 177, 31.07.2023

Fatma Erdoğanaras , Kübra Cihangir Çamur , Gülsel Satoğlu

https://doi.org/10.30785/mbud.1284843

Abstract

The effects of urban rail systems on the real estate market were studied by analysing housing prices around Ankara Koru and Batıkent Metro Stations using the Hedonic Price Model. Quantitative data on residential sales were used. The findings reveal that sale values of residences are more elastic in term of metro effect in Batıkent, where middle-lower income groups live, compared to Koru Metro Station, where middle-upper income groups live. As the distance to the metro station decreases in Batıkent, prices increase. These results suggest that subways can help reduce polarization between income groups in cities while increasing accessibility. Providing access to neighbourhoods with both low and high-income individuals by metro increases housing prices more in favour of low-income groups and reduces income polarization between income groups.

Keywords

Metro stations, housing prices, hedonic price model, accessibility, transportation planning, urban planning

Thanks

We thank the anonymous reviewers and our colleagues for their comments and guidance on the development of the article. The article complies with national and international research and publication ethics. Ethics Committee approval was not required for the study.

Metro ve Konut Değeri Etkileşiminin Hedonik Fiyat Modeli ile İncelenmesi: Ankara Batıkent ve Koru Metro İstasyonlarının Karşılaştırılması

Abstract

Kentsel raylı sistemlerin emlak piyasası üzerindeki etkileri, Hedonik Fiyat Modeli kullanılarak Ankara Koru ve Batıkent Metro istasyonları çevresindeki konut fiyatları analiz edilerek incelenmiştir. Konut satış değerlerine ilişkin nicel veriler kullanılmıştır. Bulgular, orta-alt gelir grubunun yaşadığı Batıkent'teki konutların satış değerlerinin, orta-üst gelir grubunun yaşadığı Koru Metro İstasyonu'na kıyasla metro etkisi açısından daha esnek olduğunu ortaya koymaktadır. Batıkent'te, metro istasyonuna yaklaştıkça fiyatlar artmaktadır. Bu sonuçlar, metroların erişilebilirliği artırırken şehirlerdeki gelir grupları arasındaki kutuplaşmayı azaltmaya yardımcı olabileceğini göstermektedir. Hem düşük hem de yüksek gelirli bireylerin yaşadığı mahallelere metro ile erişim sağlanması, konut fiyatlarını düşük gelirli gruplar lehine artırmakta ve gelir grupları arasındaki kutuplaşmayı azaltmaktadır.

Keywords

Metro istasyonları, konut fiyatları, hedonik fiyat modeli, erişilebilirlik, ulaşım planlaması

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