Investigates the evolution of mass rapid transit MRT in relationto the Hong Kong market and analyses the effect of surrounding landvalues. Outlines the unique features of Hong Kong which make an urbanrailway system ideal and discusses the changes brought about by MRT.Summarizes the growth of commercial development on Hong Kong island andgives case studies on the Admiralty, Sheung Wan and TaikooshingKornhillareas in respect of their development with the advent of MRT. Notes thatthe shortening of travelling time for workers has increased demand for,and hence the price of, sites immediately adjacent to MRT stations.
Journal of Valuation – Emerald Publishing
Published: Jan 1, 1990