Spatial Analysis of Economic and Transit-Driven Land Value in a District-Level City in Thailand: A Case Study of Ban Pong Municipality, Ratchaburi, Thailand
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This study investigates the differential impacts of rail transit infrastructure on land valuation patterns across Ban Pong Municipality in Ratchaburi, Thailand. Strategic infrastructure projects such as the Bang Yai–Ban Pong Motorway Project and the Southern Double-Track Railway strengthen connectivity between Ratchaburi, Bangkok, and Southern Thailand. These developments support trade and tourism, boost freight and passenger transport efficiency, and have led Ban Pong to evolve into a dynamic urban hub, attracting industrial investment and labor migration and contributing to rising land and property value. This study provides empirical evidence on determinants of land values in secondary cities, extending TOD research beyond metropolitan contexts. A hedonic pricing framework is employed to analyze direct and spillover effects of rail transit facilities, urban amenities, and socioeconomic variables on land values. Spatial lag quantile regression (SLQR) is used in the study to quantify spatial heterogeneity and interdependence effects across the urban landscape. The empirical analysis examines 6,506 land parcels, categorized into commercial, residential, and vacant land, revealing the complex interplay between accessibility factors, economic expansion, and property values. The empirical analysis shows that proximity to rail transit facilities creates statistically significant positive externalities, with effect magnitudes that differ significantly across various land value distribution segments. The benefits of rail proximity are most pronounced for commercial properties in lower to middle value quantiles (Q10-Q50), while high-value residential parcels (Q70-Q90) show diminished or negative responses, indicating a preference for low-density, amenity-rich environments. The study proposes a tiered policy approach: integrated road-transit planning and flexible zoning in mid-tier areas; infrastructure investment and land readjustment based on TOD in low-value zones; and environmental protection and amenity preservation in high-value residential zones. It suggests multimodal integration strategies and highlights the significance of secondary roads in extending the effective catchment of transit investment, particularly for peripheral neighborhoods. Finally, the study shows that transit proximity has less impact on high-value residential zones than environmental quality and amenity access, thereby supporting using policy tools such as zoning overlays, urban conservation districts, and green infrastructure investments to preserve land value and quality of life over the long term.
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