The Aspect of Time Dimension for New Transportation Infrastructures Impacts on Property Prices：Empirical Studies of National Freeway 5 and Yilan Area in Northeastern Taiwan

• Main Authors: Yeun-Touh Li, 李元拓
• Other Authors: Oliver F. Shyr
• Format: Others
• Language: zh-TW
• Published: 2009
• Online Access: http://ndltd.ncl.edu.tw/handle/79725182849220752636

碩士 === 國立成功大學 === 都市計劃學系碩博士班 === 97 === The opening of Freeway 5 which constructed over 15 years, halved the travel time between Yilan county and Taipei from 90 to 45 minutes. This improvement changes the efficiency of transportation systems and accessibilities across the northeastern Taiwan and its capital city. Furthermore, it also affects the land use and housing prices along the passing region. Many studies stated the housing price and land values were significantly affected by accessibilities changes with new transportation and its improvement. By considering the implied attributes of accessibilities for housing prices in Yilan area, the models were built by choosing different time section during construction and opening of Freeway 5 to compare with the coefficient of housing price attributes. Estimated hedonic price functions confirm that relative accessibility to downtown Taipei has no effect during the beginning of constructions but shows a positive effect on residential property prices within Yilan County 2 years before the opening of Freeway 5. The results show that the construction of the Freeway 5 has significantly enlarged the Taipei Metropolitan Area to encompass most of Yilan County.