Estimating the Effects of Light Rail Transit (LRT) System on Residential Property Values Using Geographically Weighted Regression (GWR)

Dziauddin, Mohd Faris, Powe, Neil and Alvanides, Seraphim (2015) Estimating the Effects of Light Rail Transit (LRT) System on Residential Property Values Using Geographically Weighted Regression (GWR). Applied Spatial Analysis and Policy, 8 (1). pp. 1-25. ISSN 1874-463X

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Official URL: http://dx.doi.org/10.1007/s12061-014-9117-z

Abstract

This study assesses the effect of light rail transit system (LRT) on residential property values in Greater Kuala Lumpur, Malaysia, where traffic congestion has been a major issue since the mid 1990s. A relatively new technique namely Geographically Weighted Regression (GWR) is employed to estimate the increased value of land in the form of residential property values as a result of improved accessibility owing to the construction of the LRT systems. Using the Kelana Jaya LRT Line, located in Greater Kuala Lumpur, Malaysia as a case study, this paper reveals that the improvement of accessibility to employment and other amenities provided by the LRT system added premiums on residential property values but with spatial variation over geographical area indicates that the existence of the LRT systems may have a positive effect on residential property values in some areas but negative in others. The use of the GWR in this study is identified as a better approach to investigate the effect of the LRT system on residential property values since it has the capability to produce meaningful results by revealing spatially varying relationship.

Item Type: Article
Additional Information: Published online 28 August 2014.
Uncontrolled Keywords: land value capture, Greater Kuala Lumpur
Subjects: L700 Human and Social Geography
Department: Faculties > Engineering and Environment > Geography
Depositing User: Ay Okpokam
Date Deposited: 09 Sep 2014 08:15
Last Modified: 24 Sep 2015 09:02
URI: http://nrl.northumbria.ac.uk/id/eprint/17550

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