Do hospital and rail accessibility have a consistent influence on housing prices? Empirical evidence from China

Abstract

This study investigates the interaction between the accessibility of various urban public facilities and the price of urban space by analysing the influence of urban hospitals and rail accessibility on housing prices. In recent years, with the development of social civilisation and the influence of COVID-19, people have become increasingly interested in the quality of hospitals in their living environment. This makes medical convenience (hospital accessibility) a crucial element in determining housing prices. At the same time, people regard rail as one of the important means to access hospitals. Therefore, demonstrating the intrinsic value of accessibility to hospitals and rail in residential areas is essential. As a point of reference, this paper presents an empirical analysis of Fuzhou, Fujian Province, China, a city in a developing nation with relatively widespread access to hospitals during a significant rail construction period. The study demonstrates the interaction between hospital and rail accessibility and their moderate influence on housing prices, which is geographically heterogeneous. The study also determines the optimal metric model for assessing geographical interaction based on the significance and stability of the interaction in geographic space. It concludes with a discussion of the findings and social recommendations.