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|Title:||The Impact of the Mass Rail Transit Systemon Rent and Value of Condominiumsin the Bangkok Metropolis||Authors:||Pongpairoag, Kittipong||Issue Date:||2013||Publisher:||Chulalongkorn University Printing House
University of the Thai Chamber of Commerce
|Source:||Kittipong Pongpairoag (2013) The Impact of the Mass Rail Transit Systemon Rent and Value of Condominiumsin the Bangkok Metropolis. University of the Thai Chamber of Commerce Journal Vol.33 No.2.||Abstract:||The objective of this project was to find the impact of the Bangkok Mass Transit System (BTS) and the Mass Rail Transit (MRT) on the rent and value of condominiums located along their routes in the Bangkok Metropolis. This study is based on the "Hedonic Price Method theory" with the purpose of finding the advantageous factors influencing the equilibrium of condominium rents, namely value of travel time, nearby facilities (exogenous amenities), urban economic environment, and implicit price (features and facilities of each condominium). "Maximum likelihood estimation" is used to estimate the effects, of which the independent variables were created by the factor analysis method. The analysis shows that the Double-log model is the best for explaining the empirical phenomena. Hedonic Price Modeling is used for selecting the most appropriate model. The results indicate that the elasticity of distance from the BTS station to the value of condominiums (rental rate) is 0.1184. This implies that the prices of similar condominium with a 1% increase in the distance from the BTS station, will be reduced by 0.1184%. Moreover, this study also found that many factors had a positive influence on the prices of the condominiums, namely exogenous amenities, urban economic environment, and implicit price (features and facilities of each condominium).||URI:||https://scholar.utcc.ac.th/handle/6626976254/332||ISSN:||0125-2437||Rights:||This work is protected by copyright. Reproduction or distribution of the work in any format is prohibited without written permission of the copyright owner.|
|Appears in Collections:||JEO: Journal Articles|
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