• the research carried out in Malaysia utilizes a single technology whereas this paper combined four different technologies
  • all other research carried out shows a positive relationship between house price and proximity to TOD which this also confirmed
  • more variables were considered and added to the model, in comparison to other research carried out in Malaysia and elsewhere, a new model was developed
The idea of Transit Oriented Development (TOD) was to foster urban development around railway networks and has been strategically built and applied since the late 19th and early 20th centuries. Previous studies reported positive, negative, or irrelevant impact of TOD on prices of surrounding real estate. The study aims to evaluate the impact of TOD on property prices in Kuala Lumpur. It utilizes secondary data obtained from the National Property Information Centre (NAPIC), Malaysia, after data cleaning, Nine Thousand Five Hundred and Forty-Nine (9549) Housing Transactions between the periods 2009 and 2018 were used. The research design was quantitative, and the Hedonic Price Model (log-log model) was used for data analysis. The model revealed a multiple correlation coefficient (R) of 0.891 and an adjusted R2 value of 0.794, indicating that 79.4% of the house price variation is explained by the model. The F value of 996.921, which is statistically significant, indicates that the predictors significantly combine to predict the price of TOD areas in Kuala Lumpur. The coefficient for LnTrainsta is 0.056, indicating that there was a positive relationship between residential house prices and TOD in Kuala Lumpur; this explains that house prices increase by 5.6% for every 100 meter closer to the rail transit station.
Communication of this research is made possible through monetary assistance by Universiti Tun Hussein Onn Malaysia and the UTHM Publisher’s Office via Publication Fund E15216”. The authors would also like to thank the Ministry of Higher Education in Malaysia for supporting this research under the Fundamental Research Grant Scheme No. FRGS/1/2019/SS08/UTHM/02/1. In addition, the authors gratefully acknowledge NAPIC and JPPH for providing the data used in this research.
Fundamental Research Grant Scheme No. FRGS/1/2019/SS08/UTHM/02/1
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