鐵路地下化通車後對鄰近房價的影響— 以高雄市區鐵路地下化為例The Impact of the Opening of the Railway Underground Project on Housing Prices: A Case Study of Kaohsiung

高雄市鐵路地下化(railway underground)已於2018年10月14日全面下地營運通車，本研究 主要探討高雄市鐵路地下化之後對鐵路沿線周圍住宅價格的影響。樣本資料來源為實價登錄 提供的住宅交易資料，採用期間為鐵路地下化營運通車前後2年自2016年10月14日至2020年10 月13日止。首先，採用傾向分數配對方法(propensity score matching, PSM)找出實驗組與控制組 兩組相似的樣本，再透過差異中之差異方法(difference-in-differences method, DID)進行分析。 實證結果顯示，高雄鐵路地下化營運通車後，位於鐵路沿線影響範圍150公尺以內之住宅價格 會增加10.1%。我們採取PSM配對後再進行DID迴歸分析，其估計數據應較為符合真實與穩健 之特性。

關鍵詞：差異中之差異法、傾向分數配對、地理資訊系統、鐵路地下化、住宅價格

The railway underground in Kaohsiung City has been fully opened to traffic on October 14, 2018. This research is mainly due to the phenomenon of housing prices shrinking due to the implementation of the underground railway in Kaohsiung City. The impact of housing prices, the sample period is 2 years before and after the opening of the underground railway operation, from October 14, 2016 to October 13, 2020, using the internal attribute data provided by the real price login and the geographic information system to collect the path distance, using propensity score matching (PSM) find two similar sample groups. Thereafter, the difference-in-differences (DID) method was applied and estimations were made using traditional OLS. Housing units located within and outside the Kaohsiung railway underground range of influence were sorted into the experimental group and control group, respectively, so as to compare the residential prices before and after the underground operation of the Kaohsiung Railway. The results indicated housing prices increased by 10.1%, for units located within the line’s range of influence (within 150 meters) after the opening of the underground railway operation. We adopted PSM and then conducted DID regression analysis, and the estimated results should be more in line with the reality and robust.

Key words: difference-in-differences method, propensity score matching, geographic information system, railway underground, housing prices