The impact of shared mobility services on housing values near subway stations

Abstract

With the rapid development of smart phones and mobile internets, shared mobility services have become increasingly popular among travellers, and may influence housing values through their effects on people's demand on subway services. This paper makes one of the first attempts to investigate the aggregate impact of different shared mobility services on housing values near subway stations, by conducting an empirical analysis on a dataset of apartment resale records in Beijing. We find that, the on-demand ride service offered by transportation network companies (like Didi) is more of a substitute than a complement to subway, leading to a reduction in house price in the vicinity of subway stations. In contrast, dockless bikesharing service brings about a greater complementary effect than substitution effect on subway usage, resulting in house price appreciation in the proximity of subway station. The effects are found to be heterogenous at different temporal and spatial scales.