捷運系統對不同區位房價影響分析──以以營運階段為例

THE IMPACTS OF SUBWAYS ON METROPOLITAN HOUSING PRICES IN DIFFERENT LOCATIONS─AFTER THE OPENING OF THE TAIPEI SUBWAY SYSTEM

本文以 2004 ~ 2007 年臺北捷運紅線通過行政區的3,905 筆住宅交易資料，探討在捷運系統已正式營運相當時間後，都會區中不同區位（市中心、市郊、郊區）捷運站對其周邊（捷運站區、捷運周圍區、非捷運區）房價的影響差異，獲得幾點有趣的發現。首先，就整體都會區而言，捷運站區房價較捷運周圍區增加44萬元，較非捷運區房價較則增加109萬元。其次，市中心、市郊、以及郊區捷運站對其周邊房價的影響範圍並不相同，郊區車站對房價影響的範圍會大於市中心與市郊。此外，就房地產景氣復甦期間的房價增值幅度而言，依序為市中心、市郊、郊區，此與以往認為交通改善會使郊區房價增值潛力高於市中心的觀點不同，但不論在市中心、市郊、或郊區捷運站，捷運站區、捷運周圍區，以及非捷運區之間的房價漲幅差異均不明顯。

This study employs the data from 3,905 house transactions near the RedLine of the Taipei subway system, during 2004 to 2007 to examine the impact ofsubway system on metropolitan housing prices in different locations. We classifylocations of the samples into CBD, CBD fringe, and suburbs in the metropolitanarea, and then divide the distance to subway stations into station area, nearstation area, and non-station area. The empirical results reveal severalinteresting findings. Firstly, housing prices of the station area increasesignificantly by NT$ 440,000 and 1,090,000 respectively, compared to the nearstation area and non-station area of all the samples. Secondly, the impacts ofsubway stations on housing prices among station area, near station area, andnon-station area are different, and the impact scale of suburb stations arefurther than CBD and CBD fringe. Finally, housing price appreciation rates inCBD are much higher than CBD fringe and suburbs during the real estatemarket recovery period. However, housing price appreciation rates are notsignificant among station area, near station area, and non-station area nomatter whether in CBD, CBD fringe, or suburb stations.