Rail and property development in Hong Kong : Experiences and extensions
Research output: Journal Publications and Reviews (RGC: 21, 22, 62) › 21_Publication in refereed journal › peer-review
Author(s)
Detail(s)
| Original language | English |
|---|---|
| Pages (from-to) | 2019-2043 |
| Journal / Publication | Urban Studies |
| Volume | 46 |
| Issue number | 10 |
| Publication status | Published - Sep 2009 |
| Externally published | Yes |
Link(s)
Abstract
Hong Kong has aggressively pursued transit value capture to finance railway infrastructure through its 'Rail + Property' development programme, or R+P. More than half of all income to the railway operators comes from property development. Most R+P projects focus on housing although all have some commercial development. Recent generation R+P projects have stressed pedestrian quality. This research shows this has in turn increased ridership and housing prices. An R+P station with a transit-oriented design averages 35 000 additional weekday passengers. Housing price premiums in the range of 5-30 per cent were found. Hong Kong's R+P model, it is suggested, is well suited for financing rail infrastructure and advancing transit-oriented designs in the rapidly growing cities of mainland China. © 2009 Urban Studies Journal Limited.
Citation Format(s)
Rail and property development in Hong Kong : Experiences and extensions. / Cervero, Robert; Murakami, Jin.
In: Urban Studies, Vol. 46, No. 10, 09.2009, p. 2019-2043.Research output: Journal Publications and Reviews (RGC: 21, 22, 62) › 21_Publication in refereed journal › peer-review
