(Yicai Global) Dec. 13 -- Shanghai's bike-sharing sector provides local residents with better accessibility to the city's public transport system, which could lead to growth in rental prices in areas close to the city's most frequently used subway stations, says new research from DTimes and bicycle-sharer Ofo.
Bike-sharing could expand the urban core residential areas around metro stations in the city to a radius of at least 1000 meters from 500 meters at present, making it more likely that rents will rise in areas close to 52 of the city's key stations, the report said.
The distance to subway stations in Shanghai heavily influences rental prices, with residences becoming cheaper if they are further away from stations. Riding shared-bikes shortens the time needed for people to travel back and forth to metro stations, thereby increasing the number of houses included in areas with direct access to metro stations. The disparity in rental rates between houses of different distances from stations may become less pronounced as a result, said the report named Discovering the Future Core Living Areas in Cities.
Residential areas around 90% of Shanghai's metro stations have expanded as bike-sharing has emerged. Bicycle coverage surrounding 275 of 304 metro stations already exceeds 500 meters. These areas are increasingly expanding, especially in areas within the city's outer ring road, the report added.