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

Estimating the Effects of Light Rail Transit (LRT) System on Residential Property Values Using... 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. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Applied Spatial Analysis and Policy Springer Journals

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

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References (70)

Publisher
Springer Journals
Copyright
Copyright © 2014 by Springer Science+Business Media Dordrecht
Subject
Social Sciences, general; Human Geography; Landscape/Regional and Urban Planning; Regional/Spatial Science
ISSN
1874-463X
eISSN
1874-4621
DOI
10.1007/s12061-014-9117-z
Publisher site
See Article on Publisher Site

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.

Journal

Applied Spatial Analysis and PolicySpringer Journals

Published: Aug 28, 2014

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