Evaluation of the effects of metro stations on real estate values with the hedonic price model: Cases of Batıkent and Koru

---

Thesis Type: Postgraduate

Institution Of The Thesis: Gazi University, Fen Bilimleri Enstitüsü, Turkey

Approval Date: 2023

Thesis Language: Turkish

Student: Gülsel SATOĞLU

Principal Supervisor (For Co-Supervisor Theses): Fatma Erdoğanaras

Co-Supervisor: Kübra Çamur

Open Archive Collection: AVESIS Open Access Collection

Abstract:

The ability of solution-oriented transportation studies to bring about meaningful changes in the space requires the creation of the right transportation policies and the coordination of the relevant disciplines. In this context, although the development of land, solution-oriented local policy, holistic development plans, a strong economy and the right transportation policies are important, the choice of transportation modes is affected by the socio-economic structure of the users, and the socio-economic structure is voluntarily / involuntarily affected from this process. In this study, the effects of rail systems on the real estate market are evaluated with qualitative and quantitative methods through Ankara Koru and Batıkent Metro stations. Housing and commercial unit prices were analyzed using the Hedonic Price Model, and a survey was conducted to reveal the socio-economic structure of the users. Research findings reveal that rental and sale prices of residential and commercial units are more affected by the distance to the station due to accessibility, especially in Batıkent, where the lower income group lives and private car use is limited. This indicates that metro stations can contribute to reducing the polarization between different income groups in the city by raising property prices and supporting economic development in settlements with low socio economic level in the long run. Thus, it ensures the elimination of social-spatial inequalities by increasing access opportunities and appears as an important tool in reducing urban injustice caused by income differences.

Key Words : Metro stations, real estate prices, hedonic price model, accessibility, use around the station