One of the most important indicator that affects the housing market in large cities is availability of connection to public transport system.
The aim of the project is to inspect the relationship between the residential land price per square meter and availability of public transport. The state of the housing market reflects the value of assets, including land and buildings. The availability measuring metrics will be determined as the distance to nearest public transport terminal. The transport modes that will be used in the analysis are Metro, Tram, Bus and Train.
Altough Prague’s integrated transport system contains cable car and river boats, these means of transportation are not included in the analysis due to the very low service coverage compared with above mentioned modes. As the aim of the project is to investigate how the transport availability affects the residential land price, the demographic characteristics, such as population density, are not included in the analysis.
To better illustrate the problem, a schematic illustration of the model is depicted below.
